North Dallas builder buys an entire block of teardowns for a new luxury neighborhood
A local developer bought an entire block in northwest Dallas to create a new neighborhood of luxury residences.
Olerio Homes acquired both sides of the 4500 block of March Avenue, which is east of Love Field.
The street is in a redevelopment area where demolitions are being replaced by high quality houses. Real estate agents refer to the neighborhood as “Bird Streets” because of some of the passage names.
Davidson & Bogel Real Estate’s real estate agent Jake Milner said the developer bought all of the properties along the street in a single off-market transaction.
“There were 32 lots owned by CR Capital and sold to Olerio Homes to develop 64 maisonettes,” said Milner, who brokered the sale with the company’s J. Scott Lake.
The existing maisonettes, built in the late 1940s, are located between Lemmon Avenue and Inwood Road.
Builders are working quickly to demolish older homes in this area in order to build new top quality homes. Olerio Homes has several new homes on Vogelstraßen, priced anywhere from $ 1 million to nearly $ 2 million.
Olerio Homes has been in business since 2007 and builds homes across North Dallas neighborhoods.
The 4500 block of March Avenue is now lined with maisonettes that were built in the late 1940s.(Steve Brown)