Issue link: http://papercitymagazine.uberflip.com/i/1455228
W h e n t h e Missouri- K a n s a s - T e x a s R a i l w a y extended its tracks through Dallas in the 1880s, the city was still in its youth. On the precipice of its transformation from a rural Texas town to a major metropolis, Dallas reaped the industrial rewards brought by the railroad (referred to in short as the K-T line, or Katy) to become a bustling commercial hub. In 1922, the Highland Park, Texas Depot opened By Lisa Collins Shaddock. Portraits Misael Rodriguez. at the corner of Abbott and Knox Streets, offering passenger service to commuters and cross-country travelers in luxuriously outfitted Pullman sleeper cars. Today, this corner is still filled with a palpable energy. An entry point from prestigious Highland Park to one of Dallas' most walkable shopping and dining districts, the Knox Street area is made even more desirable thanks to its proximity to the Katy Trail — the 3.5-mile-long public park and walk trail that was formerly the Katy railroad. The amount of investment and new development in recent years indicates the neighborhood has only barely begun to scratch the surface of its potential. Its future is being guided by a number of independent entities, including an A-Team partnership formed by Trammell Crow Company, MSD Capital, L.P. (Michael Dell's investment arm), and The Retail Connection — which together own 12 acres of the area's real estate. The joint venture tapped a division of Highland Park Village's management company to oversee leasing, property management, and marketing — a move that speaks volumes about the kind of thoughtfulness and quality we can expect to see as Knox Street develops. Case in point? The decision to bring an Auberge Resorts Collection Hotel and Residences to anchor the new mixed-use luxury lifestyle development located along the Katy Trail, which will also include approximately 90,000 square feet of restaurants and retail, a luxury residential building, a six-story boutique office building, and a new park space. The majority of the development — set to begin construction this year and anticipated to be completed in 2025 — is being designed by Australian firm Woods Bagot, which is using the Katy Trail's rich history to inform key design elements. "Knox is a very special neighborhood already, and we want to preserve what's great about it today but at the same time take it into the future," says Highland Park Village managing director Stephen Summers, whose enthusiasm for the project is infectious. "Dallas is growing like crazy, and there's insane demand from local and national groups, both restaurant and retail, to be here. It's a standalone destination. These locations don't become available in the United States very often." Of course, Summers — who oversees leasing for the development — is no stranger to once-in-a-lifetime real estate opportunities. In 2009, he and his wife Elisa Summers, along with Heather and Ray Washburne, purchased the historic Highland Park Village shopping center. Since that time, they've tripled sales, greatly increased the number of storefronts, and been able to command rents that are unprecedented in the southwestern United States. At the ALL ABOARD WITH PLANS FOR AN AUBERGE RESORTS COLLECTION HOTEL AND RESIDENCE, GLITTERING NEW RESTAURANTS AND RETAIL, STEPHEN SUMMERS PUTS KNOX STREET ON THE MAP Stephen Summers at the intersection of thoughtful and genius. (Continued) 44