Lakeside. Rendering courtesy of Meyer Real Estate Group.
The East Dallas neighborhood has continued to evolve for its growing population. With an implementation of new facilities, real estate, supermarkets and education, residents can expect a progression in development that could make significant revisions for the historic neighborhood.
Here is what we know about the neighborhood development so far based on the recent 2023 Economic Report from the Greater East Dallas Chamber of Commerce.
Gaston Avenue
Construction has begun for a 106-townhome project on Gaston Avenue with completion expected in 2024.
In addition, the 5-acre Lakeside property with both two and three bedroom townhomes will start pricing at $500,000. The real estate is located next to the Arboretum Village Shopping Center.
Old East Dallas
Kiva East, an 87-unit multifamily development is offering affordable and market-rate housing. The site is currently under construction in Old East Dallas at 4806 Eastside Ave. In addition, the building and Bezos Academy have united for a 10-year lease agreement to provide a tuition-free, Montessori-inspired pre-K at the development. It is anticipated to be completed late this year.
Far East Dallas
A slight shift from housing, in Far East Dallas an El Rio Grande Latin Market opened for business recently. As part of the public and private economic development, the 59,200-square-foot grocery store is part of an economic development with Vista Property Co. As part of the $1.3 economic development initiative, included in the deal was an investment of $7.4 million to improve the shopping center that anchors the supermarket.
Deep Ellum
August Real Estate Co., a dallas-based real estate company that owns the Wells Fargo Lakewood Tower located at Gaston and Abrams, as well as the Continental Gin Building, acquired 17 buildings in Exposition Park. The newly purchased properties between Deep Ellum and Fair Park are approximately 400,000 square feet.Â
Now, the amount of property owned and managed by August Real Estate in East Dallas is up to 650,000 square feet.
White Rock Bluffs
An assortment of 34 single-family homes, starting at 5,000 square feet for both four and five bedroom homes will begin construction late this year.Â
While some construction begins, another single-family home, StoryBuilt, located near White Rock Trail and Walnut Hill, is facing development delays due to funding issues. The site, soon to be called Goose at White Rock Valley, was purchased by the Richardson Independent School District (RISD). The purchase was intended to help construct a new White Rock Elementary School, however, parents disapproved of the location.
As a response to the private and public funding partnerships, including the $7.4 million Vista Property deal, new businesses and neighbors are continuing to enter the area.Â
