Mansions in the sky
Dallas Business Journal - by Lisa M. Whitley Staff Writer
TURTLE CREEK -- High-rise condominiums and apartments in Dallas are enjoying a 97% occupancy rate in today's market, said Judy Pittman.
Pittman is the president of her own agency and deals exclusively in the Turtle Creek and Uptown areas. She has earned the title of "high-rise queen" after 10 years of specialization in this market.
"Judy is the go-to-gal if you want to buy or sell high-rise condominiums in Turtle Creek," said Joe Siegel, a banking executive who resides at The Warrington Condominiums.
Last year, Pittman racked up $47 million in sales and has already completed 17 transactions for a total of more than $7 million for January.
These "mansions in the sky" allow occupants to be as pampered or as independent as they desire, she said.
And, Pittman is not just selling this dream, she's living it too. She lives in a penthouse at The Warrington, has two additional lease units there, plus two more at The Claridge.
"There's something about this lifestyle that makes you feel good," she said. "I don't know if it's the activity of the sky, the sunrises and sunsets, seeing all the action, or the cozy days when it's storming, but there's something uplifting about it."
Wayne Swearingen, senior vice president and director of project leasing for CB/Koll based in Newport Beach, Calif., is an example of the corporate executive who is attracted to this lifestyle. After having a home in Highland Park, Swearingen and his wife, Barbara, decided to give urban living a try for a year. It's been nearly seven years and someday, perhaps when he retires, the couple will go back to "surface living." But Swearingen says he has no intention of moving back into conventional housing anytime soon.
One of the biggest changes in his lifestyle was learning to live with less space and possessions. The Swearingens sold three residences, including a ranch north of Dallas, and had a series of garage sales when they committed to life in The Terrace House on Maple Avenue in Oak Lawn. Although he retains a storage warehouse, he said they realized "they don't have to have all that stuff."
Many, like the Columbos, have moved here from New York and other cities where high-rise living is the norm.
"I've been in some sort of high-rise since I left home," said Catherine Columbo, who lives at The Warrington. "The convenience is great. It's so service-oriented with the valet parking and other extras. It's almost like living in a hotel except for room service."
But, room service is available at The Mansion Residence on Turtle Creek Boulevard. This is the most prestigious high-rise in the the area because of its affiliation with the hotel, Pittman said. Owners of these condominiums can take advantage of all the amenities offered at The Mansion on Turtle Creek Hotel.
Other people desire to simplify their lives, said Jerrie Smith, art consultant and owner of JM Smith Fine Art.
Smith and her husband, Fred, reside in Maine during the summer, but call The Plaza at Turtle Creek Apartments on Gillespie Street home the rest of the year. The Smiths just moved from a town house into their new home last fall.
"My husband had wanted to move into a high-rise for a long time but I resisted," she said. "I'm thrilled so far. I thought it was just for old fogies, but it's not."
Actually, this lifestyle seems to suit everyone except for people who have school-age children, Swearingen said. This type of life is very appealing to "baby boomers" who have become "empty nesters," Pittman said.
However, Siegel said resident profiles are changing. Seeing toddlers and high school-age children is becoming more commonplace in his building.
Columbo plans to stay in a high-rise as long as possible, even if she and her husband decide to have a baby. In New York, many children reside in high-rises. Once the child reaches school age, she said she will consider buying a home so there will be more playmates nearby. But she wants to avoid it as long as possible because she doesn't want to be responsible for a big yard, she said.
Typically, high-rise dwellers have incomes above $50,000 a year, Pittman said. The condominium owners are assessed a monthly bill based on the unit's square footage. Some buildings sub-meter gas and electric costs and monthly bills can range from $150 per month up to $3,500 per month at The Mansion, Pittman said.
Square footage ranges from 800 up to 12,000 for those who have converted one floor into a single unit, she said.
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