An undeveloped 8.5 acres west of East Grand that is part the Hollywood/Santa Monica conservation district will become about 60 new single-family homes, according to a press release we just received from Henry S. Miller Brokerage.
The land was purchased from Henry S. Miller for an undisclosed amount, and includes the north and south sides of Shadyside Lane, just east of Lindsley Park and just south of the Santa Fe Trail. (Click the image on the left for a larger view of the land.) Publisher Rick Wamre believes this is the same land that used to be home to Dallas Housing Authority apartments before they were torn down.
The press release calls it “one of Dallas’ largest and last remaining tracts of infill land.” It also identifies its location as in the “increasingly popular Lakewood area of Dallas, Texas,” as well as ” less than a mile from White Rock Lake … and up the street from the Dallas Arboretum.”
The new property developer, Megatel Homes, is based in Plano and appears to have built mostly in the suburbs up to this point. Megatel “came to the table with the best offer,” according to Henry S. Miller. The conservation district guidelines would allow for “the development of Tudor style single family homes or up to 100 townhomes,” the release says. Megatel plans to build the 60 homes in three phases, with prices starting at $500,000. Henry S. Miller says it “will be a lucrative investment for the purchasers.”