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New Report Exposes Preston Center Plan As Financially Bogus

February 13, 2018 9:28 AM | Anonymous member (Administrator)

CandysDirt.com
by Jon Anderson

Good news. You don’t have to go to Idaho to fish in Bogus Creek.  Last October, I wrote about how the NHPRAP (Northwest Highway and Preston Road Area Plan), not even a year old, wasn’t designed to be economically viable.  Essentially, my scribbles revealed that were its Zone 4 area to follow the recommendations contained in the NHPRAP task force’s final report, their individual condominiums would always be worth more than land value to a developer.  Note: Zone 4 contains PD-15 (Planned Development District) within the larger Pink Wall area.

This lack of economic benefit ensures none of the redevelopment and neighborhood renewal touted by the NHPRAP plan will occur, failing to live up to its own goals.

Well, now I’m not alone. A.G. Spanos (who has an option on the Diplomat) released an independent report by architecture firm LRK.

LRK’s report essentially debunks the feasibility of redevelopment within PD-15 when constrained by both the current PD-15 limits and the NHPRAP’s report. Sure, Spanos has a dog in this hunt, but LRK’s report fills a gap in research not provided by the city or the NHPRAP. The report is making the rounds at City Hall just as development opponents are trying to shore up support for the flawed NHPRAP plan. READ MORE...

Preston Hollow East Homeowners Association
PO Box 25528
Dallas, Texas 75225

info@pheha.org

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