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September 21, 2007

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Bill Kennedy

Uh oooohhhhhh....

And the new Movie Grill will be just north of that too, at Royal and 75. Seems like LHTC is in for a world of woe now. I hope things work out for them.

This all reminds me of a post Rick made a few months back, about real estate owners stealing tenants from other sites, which begets more enticing, and yada yada. Could we be in the midst of our own "retail bubble" here in NE Dallas?

Triple Wildcat

Let's look at the numbers: Urban Village promises 90,000 sq ft of retail. LHTC: 250,000 to 3000,000 sq ft of retail.

Urban Village: 3,800 apartment units
LHTC: 1,000 residential units

Looks to me like Urban Village is much more apartment-oriented than retail. Basically, they're just replacing old apartments with new ones. LHTC is a true retail-oriented project with the advantage of being in an existing neighborhood that is starved for quality retail.

Urban Village has the advantage of being closer to Central Expressway and Greenville Ave., which I think would appeal to more young renters. I have my doubts about LHTC ever being appealing to urban hipsters, the type who live in the West Village. But as a retail entity, I wouldn't wave the white flag for LH Town Center just yet.

I wouldn't be overconfident about it, either.

Triple Wildcat

Whoops! Forgot about that 930,000 sq ft of office space for Urban Village at Walnut Hill. Again, it just seems like this project is mostly about building a newer version of what's already available at Walnut Hill - office space, apartments and some retail. LHTC is bringing something completely new to an untapped area. At least that's what I'll be telling myself as I continue to keep my fingers crossed about the Town Center.

Keri Mitchell

Is this the same project formerly under the name of Valencia development? Last time I checked they were trying to find a suitable name, and perhaps Urban Village is what they settled on. Or is the Valencia development something else further north?

Jeff Siegel

Yes, the same project and the same people, Valencia.

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