New Dallas Hot Spot

Ballyhooed Preston Hollow Village reveals first round of restaurants and shops

Preston Hollow Village, the much chattered-about, mixed-use development at the northwest corner of Walnut Hill and Central Expressway, has released an official list of phase 1 restaurants and retail stores that will open in early 2015, including Trader Joe's and Orangetheory Fitness.

Trader Joe's will occupy a 14,000-square-foot space that will anchor the retail center. It is expected to open in February 2015.

Restaurants include the following:

Blue Sushi Sake Grill, the second location in Texas, following the first in Fort Worth.
Modmarket, the first Dallas branch of the Colorado-based chain, following Flower Mound, Plano and Southlake. Modmarket is scheduled to open by the end of 2014.
Pakpao, the second location of the Thai restaurant in the Dallas Design District, also opening by the end of 2014
Vertskebap, the Austin-based wraps concept, will open its second North Texas location here, also by the end of 2014.

Preston Hollow Village will have two salons: Eighteen Eight Fine Men's Salon and Tangerine Salon. It's the second Dallas location for the former and the fourth North Texas location for the latter.

Orangetheory Fitness features interval training backed by excess post-exercise oxygen consumption. There are branches in Allen, Mesquite and Plano but this is the ~~first~~ second Orangetheory studio in Dallas — and our first opportunity to note that it's missing a space between "orange" and "theory."

Phase 1 will feature a total of 75,000 square feet of specialty retail and restaurant space, including Frost Bank. A 60,000-square-foot office building, which is also on target for an early 2015 opening, will be home to dentists, doctors and other professional service firms.

"We strategically pursued not only the best restaurants and retail stores for Preston Hollow Village, but we also selected brands that would be the first in the city," said Leon Backes, CEO of Provident Realty Advisors, developer of Preston Hollow Village in partnership with Kroenke Holdings.

In early 2015, Provident Realty Advisors and Kroenke Holdings will celebrate the groundbreaking for phase 2, which will encompass a trio of seven-story apartment buildings with 512 rental apartments. This site is just north of the shopping center and office project.

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homebuying news

Texas ranks among the top 20 markets for homebuyers under 35

Photo by Vitaly Gariev on Unsplash

In 2025, Texas had more mortgage applicants under 35 years old than any other state in the country, the report found.

The Lone Star State is emerging as a top destination for young adult homebuyers, a new report has confirmed, with nearly 23 percent of all mortgage applications submitted by individuals under 35 years old.

Texas ranked No. 18 in SmartAsset's new study, "Where Young Adults are House Hunting," making it one of the most sought-after U.S. states "where the next generation of homeowners may be gaining the strongest foothold."

To determine where younger Americans are most actively pursuing homeownership, SmartAsset's analysts examined mortgage application data in all 50 states in 2025, and calculated the share of applications filed by buyers younger than 35 relative to all applicants.

A total 259,737 Texas homebuyers under 35 submitted mortgage applications in the last year alone — making Texas the state with the highest number of young adult applications in the country.

California and Florida, respectively, had the second- and third-highest numerical rate of young adult homebuyers with 170,434 and 159,429 applications in each state. But they still ranked at the bottom of the national list with the lowest percentage of young adult applications relative to all applicants in 2025 — at 14.7 and 14.8 percent.

North Dakota leads the nation as the top state for young homeowners with over 28 percent of all mortgage applications in 2025 submitted by homebuyers under 35, making up 6,551 applications.

SmartAsset also revealed something many homeowners might already know: younger Americans are more likely to pursue homeownership in states with lower housing costs.

"In each of the four states with the highest share of mortgage applications from adults younger than 35, the typical home value is less than $300,000: North Dakota (No. 1), West Virginia (No. 2), Nebraska (No. 3) and Iowa (No. 4)," the report's author wrote.

In Texas, the typical home is worth $302,187, which is the 18th highest in the U.S. Meanwhile, West Virginia and Mississippi are the only two states with home values under $200,000, the lowest nationwide.

Young potential homebuyers looking for a home in Dallas need to make about $83,000 to afford a starter home. Many surrounding suburbs also have high appeal for first-time homebuyers, such as McKinney and Plano, which offer a high quality of life for homeowners that want to start a family.

High home prices aren't the only challenges keeping young Americans from becoming homeowners, the report said. Other challenges like high interest rates and limited supply are also plaguing would-be homebuyers.

"According to a recent Pew Research Center survey, nearly 9 in 10 younger Americans say it is harder for them to buy a home than it was for their parents," the report said. "Nonetheless, younger buyers continue to aspire to homeownership, navigating an uneven landscape of affordability and opportunity."

real estate homebuying housing market smartasset reports