Elk Hill Area in Dallas (N Carroll Ave/Rusk Ave/Cabell Dr)

[William Hughes]

Hi,

There's a lot of new MFH construction in the area, with many old homes being sold for tear-down value. There's a good mix of old and new MFH's. I know that there is a $2.5 billion mixed use development (The Central by JPI) in the works off 999 N. Carroll Ave. 

I have three questions:

1) What else (if anything) is driving this new construction?

2) Is this area worth considering for a MFH investment (based on a criteria of 5% COCR, purchase price of $500k-$2 mil), or are there better areas to consider?

3) How can I learn more about this particular area to understand it better?

Any advice is appreciated.

[Kenneth McKeown]

@William Hughes I'm actually closing on my duplex I built right nearby! The area is tremendous - still somewhat affordable if you compare it to other parts of "downtown" or "near downtown". Proximity is amazing. Obviously Central is an added benefit - and people just want to be in this area. Also - it's only a matter of time before all the homes have been torn down and rebuilt.