lovers and skillman

Advocate lakewood / east dallas

September 2008


By Keri Mitchell (http://lakewood.advocatemag.com/author/kerimitchell/)

 

The Veneto(http://www.venetocondosdallas.com/default.htm) is what opponents of the Signature
Pointe(http://www.signaturepointe411.com/) project probably wish was happening at the corner of
Lovers and Matilda. It’s an old apartment complex built in the ’50s or ’60s, and the owners
have renovated the old apartments and courtyards to create a newold condominium complex
on Matilda, one block north of University.

My husband and I toured the condos during one of the complex’s recent open house events.
The property touts its "resort style living," and I have to admit that the pool and grill areas did
not disappoint. The condos seemed to have highend finishouts— if I remember correctly, if
you bought, you were given a thousand dollars or so for the closet configuration of your choice
at the Container Store. The units were designed well for the most part — as always, with old
apartment complexes, you’ll have a few that simply don’t make sense with current residential
demands.

The property was created along the same vein as the
PowerProperties(http://www.powerproperties.com/) condominium complexes just south on
University and Sandhurst, but the general starting prices in the $190s are a lot higher than the
$120s, which Power brothers Craig and Braden offered five years ago when they began
selling their apartmentsturnedcondos.

I have no idea whether the Venteo is actually selling
its units in the $190,000 range; according to the website, only 11 of the 74 units have sold. Of
course, as Zad Roumaya of the Gaston Garland mixed use project recently told us: "The
condo market in Dallas is pretty much nonexistent."

Once enough of the Veneto(http://www.venetocondosdallas.com/default.htm)‘s units have been sold,
the owners(http://www.venetocondosdallas.com/condos_dallas/developer.html) — Clark
Lauderdale(http://clcu.com/) and Kirk Freeman — plan to turn their other apartment complex on a
nearby block into condos as well.