One Hot 'Hood

This affordable Dallas neighborhood has it all, real estate experts say

Lake Cliff, Historic District, Cadillac Heights, Dallas

The South Dallas neighborhood encompasses the Lake Cliff Historic District.

Photo courtesy of Heritage Oak Cliff

Prospective homebuyers in search of a neighborhood that "has it all" should look no further than Dallas' Cadillac Heights. That's according to Redfin's 2018 list of the 25 neighborhoods in the U.S. that have everything a buyer wants: affordable homes, lots of inventory, good schools, an easy commute, and low crime.

To determine the rankings, the real estate website's analysts looked at ZIP codes with a median home sale price below $291,700 (the national median) and selected those with homes on the market for at least 46 days. Redfin required a GreatSchools rating of 5 or higher and a transit score of 50 or more, and the ranking "favored places with lower reported violent crime."

Cadillac Heights ranks No. 21 on the list. The 75203 ZIP code has a median sales price of $205,000 — more affordable than nearby Kessler Park or Bishop Arts. As of December 2017, there were only 11 homes for sale, but the median days on the market was 54.

The South Dallas neighborhood, which encompasses the Lake Cliff Historic District, has a school ranking of 6.33, transit score of 52.8, and crime rate of 80 (among the higher ones on the list).

Cadillac Heights isn't the only Texas neighborhood that "has it all," according to the study. Also on the list are Houston's Independence Heights (No. 13), San Antonio's Lafayette Place (No. 19), and Fort Worth's 76102 ZIP code — all that's missing is a hip Austin 'hood.

While Texas fares well, Illinois shines with 14 neighborhoods on the list — 11 in the Chicago area alone.

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Anna Land Buy

Cox Family sells 116 acres in Anna for mixed-use development

Courtesy photo

Anna, Texas

A major land sale in Anna is paving the way for new mixed-use development. According to a release, Frisco-based Rockhill Capital & Investments struck a deal with the Cox Family to acquire 116 acres at County Road 371 and SH-5, approximately two miles east of US-75.

Younger Partners Executive Managing Director John St. Clair, Vice President Tyler Hemenway, and Associate Davis Willoughby represented the seller in the transaction. The sales price was not disclosed.

Rockhill will sell fully entitled tracts of land to homebuilders, multifamily, and commercial developers.

The single-family portion will be built in phases with development of 325 single-family lots, says Rockhill Chief Development Officer Brent Libby in a statement.

“Construction will likely begin early in Q2 2025,” Libby said. “We’ve already sold 82 of the 116 acres to homebuilder Taylor Morrison and they should break ground first.”

The remaining acres are already being snapped up including 9.5 acres on SH 5 that is under contract to a commercial developer, and interest from a user/developer on the remaining 24 acres, which is zoned for multifamily.

The Cox Family owned the land for decades and had received multiple offers on the property over the years, but were never ready to sell.

“Ultimately, the family wanted to capitalize on the land market before unforeseen market factors took place,” said St. Clair of Younger Partners. “This deal took place at the right time with the right buyer.”

The acquisition nvolved a lengthy zoning process to acquire the land. Rockhill created a Public Improvement District (PID) on the single-family portion of the land, which helped the deal move forward.

Rockhill already has land holdings in nearby high-growth cities of Howe, Van Alstyne, and Sherman, and it ain't stopping here.

“We’ll continue to source and acquire land in the area where we can add value through entitlements, and either develop the property or hold it for some time and exit to another developer or end user,” Libby says.

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