Addison and the North Dallas Corridor is home to thousands upon thousands of residents. Strategically placed in the Metroplex it is convenient to any location in North Texas. Not only can residents of the Corridor be anywhere in the Dallas area within 20 minutes, but you don’t have to look very far to find the hustle and bustle in the community. Featuring access to hundreds of restaurants, parks and shopping, and with a booming business community, it isn’t too far-fetched to assume that many people who live in the Corridor also work here. Although living in the Corridor is convenient, beneficial and luxurious, finding the right home isn’t always easy. That’s why we spoke with local experts to help you find the perfect home, apartment or condo in the Corridor.
The Growing Corridor
You don’t have to go far to see construction throughout the Corridor. New apartment communities and homes are popping up across the area providing the newest chic living in North Texas. Many of these new homes come with the convenience of being within walking distance of everything you would need. In places like Vitruvian Park® and Addison Circle, you are part of a walkable living area with access to restaurants, shopping and fitness options as well.
Carmen Moran, Director of Development Services with the Town of Addison, points out the growing living areas in the area. “We currently have 854 units of multi-family living spaces under construction contained in our projects: the Allegro, Phase II, Keller Springs Lofts, and the Firoi in Vitruvian Park®,” she says.
The apartment community isn’t the only one seeing growth. Residential real estate sales have started growing again with interest rates currently low. The buyers’ market is giving people the opportunity to buy great homes with great rates. As Cindy O’Gorman, real estate agent with Ebby Halliday, points out, even in a season when you typically don’t see a lot of purchasing, this winter is showing the trend of people buying into what the Corridor has to offer.
“I have been pleasantly surprised that activity has picked up in January,” O’Gorman explains. “January and February are normally not buying months. I spend a lot of time on listing appointments in January and February with sellers that are thinking about going on the market in the spring. This rush was unexpected and has resulted in lower inventory due to a great deal of sales at the end of the year, combined with many homes going off the market during the holidays.”
If you go out into some of the Corridor’s hot spots, you can easily notice the apartment living in the area. Post Addison Circle and Vitruvian Park® are two of the more popular complexes in the area. Residents here get a great sense of community while at the same time enjoying urban living with lofts, often above restaurants and businesses, all within walking distance.
Apartments have grown in popularity recently because there is a trend in the area of more residents being willing to give up space in order to have more amenities. “They would rather have a smaller apartment with granite counters and wood floors than a larger apartment with Formica counters,” Moran states.
Once residents find their perfect apartment they like to stay. The apartment communities grow together and the entire Corridor takes notice. Terri Sherrod of Post Properties, which manages Post Addison Circle, can see the public paying attention, “Post Addison Circle has continued to be an ideal living environment for Dallas residents. We have won the award for Favorite Apartment Community in ADDISON – The Magazine for the North Dallas Corridor for the past four years and held a strong occupancy throughout the year. We continue to see new retail move into the area and expect that it will increase the demand for living in Post Addison Circle.”
And as construction continues and more people come to the Corridor, more communities are being built. Fiori at Vitruvian Park® is one of those communities. When the 126-acre area is finally completed (move-ins at Fiori begin April 1) it will not only hold great shopping, and a park with weekly events, but will be home to a community of around 6,000 residents.
“The apartment homes feature California Closets, pedestal tubs, wrap-around balconies and amazing views,” says Laura Schieber with Fiori at Vitruvian Park®. “Outside, residents enjoy the spring-fed creek, striking waterfall and miles of outdoor trails through the beautiful Vitruvian Park®. Each apartment property within Vitruvian Park® boasts the high quality, luxurious options expected by discerning renters.”
Addison Keller Springs is another new apartment community coming up right off the Tollway. The new living area isn’t short of any amenities for its residents either. “Our two, four-story buildings wrap around a private access parking garage,” says Rachel Hill of Addison Keller Springs. “Interiors feature contemporary signature finishes like wood-style flooring, cut-pile carpeting, stainless appliances and granite counter tops. Community gems include a modern clubhouse with a Click Cafe, advanced 24-hour fitness and wellness center, sun-drenched-style pool with lounge and grill areas and dog park – perfect for friends and impromptu gatherings.”
Single Family Homes
For residents looking for a little bigger space, the Corridor is home to high-end, single family homes as well. These communities give residents a bit more privacy, but all still are within a short drive from all the same great features the Corridor has to offer. These homes also give their homeowners the chance to design a place of their own and put their personal touch on a living room or backyard. Different houses offer different features for those who want more room or a chance to spend more time in a garden.
“There are several important features that buyers are looking for,” explains O’Gorman. “The downsizing/empty nest buyer wants a high finish-out, low maintenance but with a view or small outdoor living area – a home they can travel and not worry about. On the other hand, there are buyers that are exclusively looking for a large yard.”
This is certainly a good time for people thinking about buying a home to become homeowners. Interest rates on residential real estate are low, making it a buyers’ market in the Corridor. While the rates are low now, they won’t last forever, which is why real estate agents are encouraging people to purchase now and take advantage of this opportunity.
“My advice to buyers is to buy now while prices are still below market value and interest rates are at an all-time low,” says O’Gorman. “Years from now, everyone who didn’t is going to look back and wish they had taken advantage of this opportunity.”
Addison and the North Dallas Corridor has much to offer a resident of North Texas. With such close proximity to restaurants, businesses, schools, parks, shopping and career opportunities, this makes it the perfect area to live. Luckily for potential residents there are great apartment communities with excellent amenities for leasing and a buyers’ market if you are looking for a new single family home. Whatever you’re looking for, the Corridor has you covered.
-By Sam Nicholson