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Uptown market attracts baby boomers and
echo boomers
Published 03 October 2010 02:37 AM
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Paul and Cindee Sokal wanted to move closer to "the action" in Dallas, their favorite restaurants and the
excitement of the arts district. He enjoys coming home from his Park Cities internal medicine practice and
walking to do errands or to dine at a variety of nearby restaurants. "Everywhere we've travelled, we always
liked cities where you don't have to have a car," Paul Sokal says.
So the Sokals recently sold their 5,000-square-foot home in North Dallas and moved into a 2,600-square-foot
condominium at the Azure to take advantage of its Uptown location and its amenities.
They are not alone. Once the children "are off the payroll," as Paul Sokal puts it, homeowners are free to
downsize. And one part of town that seems very attractive to empty nesters is Uptown.
While the number of homes for sale citywide in Dallas has increased by 15 percent over last year, the number
of listings in Uptown seem to be declining.
Century 21 Real Estate, traditionally more a suburban real estate brokerage, believes so strongly in the
potential of Uptown that it talked Alicia Trevino, one of the state's most successful Realtors, into opening a
5,000-square-foot Century 21 real estate office on Oak Lawn. Recruiting Trevino and opening an office in
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Uptown was part of the firm's efforts to rebrand itself into "the smarter, bolder, faster real estate company,"
says Rick Davidson, the CEO of Century 21. Features and upgrades to make your home stand
out
"It was a great opportunity to open an office in the most pedestrian friendly part of the city," Davidson says.
Exterior remodeling increases home value,
He expects both empty nesters and their children, the echo boomers, will be attracted to Uptown homes.
organization says
Trevino, who built her practice in the Mesquite , Sunnyvale and East Dallas markets, even bought a new Real estate recovery likely for 2011
residence on McKinney Avenue.
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"Uptown Dallas has suddenly shifted into a dynamic growth surge," Trevino says. She points out that much of Get your landscape in shape
the vacant commercial space is being leased and luxury condominiums, like the Stoneleigh Hotel Residences
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and the Museum Tower, are under construction.
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Trevino attributes the activity in Uptown to a pent-up demand for housing. "In Dallas, things just don't stay discount
dormant for long," she says.
Avoiding the post-holiday letdown
Kyle Crews, who markets The Residences at the Ritz Carlton, agrees. "The Uptown market has picked back
up," he says. "We feel very fortunate to be where we are." FIND US FOLLOW US
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In the last year, Crews, who was headed to an appointment with a potential buyer from Mexico City, says 14
condominiums at the Ritz II have been purchased.
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Kristian Peterson, a 20-year veteran of Uptown real estate, joined Trevino as the Century 21 office manager
after he met her a year ago. "It was an opportunity of a lifetime," he says. Get dallasnews.com on your mobile device
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Peterson believes that Century 21 is on target opening an Uptown office. The 17-year resident of a Turtle
Creek high-rise says he has seen a lot of change in his neighborhood. He cites the "world class" arts district
and the upcoming Woodall Rogers Park - linking Uptown and downtown - as huge attractions.
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"Now we see people from all over the country moving here," Peterson says. Many are like the Sokals, empty
nesters who want to change their lifestyle. "They want to live the urban experience."
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Stewart Lytle
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stewart_lytle@yahoo.com
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