Dallas-based real estate company Prescott Realty Group and CityView - a national institutional real estate investor committed to funding developers and homebuilders to develop the American dream - have joined together to aid Dallas residents in the revitalization of their community and address the housing needs of this thriving city. The result is FortyOneEleven Newton Townhomes – a 60-unit community located one block from Oaklawn Avenue. A private grand opening event will be held on Thursday, Feb. 21, 2008 from 6 to 8 p.m. and will feature Former Texas Mayor/US HUD Secretary and Executive Chairman of CityView Henry G. Cisneros, Prescott Realty executives and other Dallas dignitaries.
With the development of this new urban community, Dallas residents can come together to support their city’s vitality and become actively engaged in its growth, especially by becoming involved in important projects such as cleaning up Reverchon Park and supporting the Katy Trail. The grand opening event, in fact, will honor volunteers affiliated with the Katy Trail, Texas Scottish Rite Hospital and other neighborhood groups who plan to participate in the March 1, 2008 Reverchon Roundup.
“Prescott Realty Group specializes in urban developments and we are proud to partner with CityView to create a development that truly reflects the essence of urban life,” explains Louis Rothermel, Prescott Realty’s project director. “Urban living is also about being good neighbors, so as we attract new residents to the Oaklawn neighborhood, we are pleased to honor Reverchon Park volunteers who contribute to its sense of community and help make the Oaklawn area so vibrant.”
The Newton Townhomes project marks CityView’s first residential development in the Dallas area and the company’s continued efforts to address demands for alternative housing options in some of the country’s fastest growing urban areas. Cisneros and CityView’s team of experts recognized the need to create a specific residential product for one of Dallas’ most thriving urban areas and partnered with Prescott Realty Group to create a development that would revitalize the area and instill pride for the area by Dallas residents.
“Newton Townhomes is CityView’s first residential development in the Dallas area and we are thrilled to provide new housing options for a city such as this that exemplifies the new face of America’s major cities. As cities continue to grow at exponential rates and attract a more diverse and younger workforce, these markets will have to find ways to provide new and creative means of housing,” Cisneros said. “Even during slow cycles in the housing market, great opportunities exist for new and repeat homebuyers, especially those in urban communities that cater to professionals buying their first homes or relocating to these thriving areas.”
“The revitalization of Dallas drives the need for urban housing of all types as the trend to move back into the inner city continues. The development of the Newton Townhome community by CityView and Prescott Realty Group is a great example of incorporating the elements of urban design,” Mayor Tom Leppert said. “The maintenance of the natural surroundings of the area will increase citizen pride in the area while providing new housing options for our community’s working professionals.”
Nestled in the heart of Oaklawn, Newton Townhomes are only minutes from downtown Dallas, major freeways and the popular Katy Trail. The modern architecture offers its residents an opportunity to connect with the city's high-energy lifestyle and then escape to an urban retreat complete with privately gated courtyards, roof top terraces and a lush canopy of mature trees. Priced from $350,000, these contemporary townhomes are available in five floor plans, ranging from 1,842 to 2,554 square feet. All enjoy a courtyard common area and boast designated home office/computer areas and private, two-car attached garages. Newton Townhomes are designed with floor to ceiling windows, 10-foot ceilings and open floor plans. Chic finishes from granite and quartz surfaces and pre-wiring for digital audio and video to fully integrated Bosch stainless steel kitchen appliances make these townhomes extraordinary. For more information, please visit http://www.4111newton.com.
FortyOneEleven Newton Townhomes are being offered for sale by David Griffin & Company Realtors. “We are very excited about being associated with this type product in such a premium North Oaklawn location. Our Sales Team has been inundated with people wanting to look at this development and we have been negotiating numerous contracts,” says Christopher Miller, Vice-President of David Griffin & Company.
A Sales Model is located at 4111 Newton Ave. #31, and current hours of operation are from 11-5 Friday and Saturday and 1-5 on Sunday. Interested parties may also make an appointment with any of the Sales Team by calling 215-559-9840.
About Prescott Realty
Prescott Realty Group, Inc. is a Dallas-based full-service real estate company focusing on real estate development, acquisition, asset management, leasing and disposition services. Prescott Realty Group concentrates its resources on urban infill mixed-use and residential developments throughout the Southwest and West Coast. www.prescottrealtygroup.com.
About CityView
CityView is a national institutional real estate investor based in Los Angeles, California committed to funding developers and homebuilders to develop the American dream. CityView’s “Beyond Capital” strategy provides a critical array of services such as site identification and acquisition, design support, entitlement assistance, insurance, innovative homebuyer financing programs, marketing strategies and coordination with community and inter-governmental agencies. CityView has experience with complicated deal-structures and distressed sites. CityView has invested more than $700 million to build quality, market-rate homes for working families in more than 30 communities across 12 states. CityView has offices in New York, Dallas, and San Antonio. http://www.cityview.com.