How Much Will The Resurgence of Lower Greenville Lift Nearby Neighborhood Property Values?

By Troy Corman

I arrived as a new resident of Lower Greenville in 2008. After adding updated electrical and central AC and heat to a 1927-built tudor duplex, it’s been interesting to see the improvements on my street, Oram, as well as nearby Prospect and Richmond Avenues. In just six years, I’ve witnessed folks remodeling a number of existing duplexes, 4-plexes and small apartment complexes. Also, many of the older, neglected buildings have been replaced by new single family homes, condos and town homes.

The other most noticeable change has been the uptick in folks walking the neighborhood, often headed to or from, Greenville Avenue. As I sometimes walk my dog in the evenings on Greenville, it’s amazing to see the jam-packed parking lots and restaurant patios. There’s a certain energy and vibe you feel from all of the pedestrians, and the bumper-to-bumper lines of cars, particularly on weekend evenings.

I often ask myself what will the future hold for property values in this area, as it seems to be transforming into an Uptown or West Village type walkable neighborhood, albeit with a funkier east Dallas vibe.

Trader Joe’s, the Truck Yard and HG Supply seem to be the main Greenville Avenue attractions, but there’s new businesses still coming in to occupy the last few remaining vacant store fronts.

The area’s transformation really took root when the city passed a SUP requiring much stricter rules for late night alcohol sales. As the city reduced the street from four lanes to two lanes, they also expanded the sidewalks and added trees and street lights, to accommodate patios and more walkability. Then came in Trader Joe’s. And then Walmart spent millions replacing a tired old vacant building previously occupied by Whole Foods and Blockbuster. Just wish they had better produce.

If Open Realty Advisors gets their retail/office development approved on Henderson Avenue, the entire area could become even more desirable, err walkable. As the largest property owner on Henderson Avenue, they’re proposing a new 3-story development with retail and office space on the vacant tract of land on the north side of Henderson. An underground parking garage is also in their plans.

Also, there are probably upwards of twenty different new town home developments planned in the Ross Avenue, Bryan Parkway and Lindell area. As those developments get built and sold, it should continue to raise property values in the area. As I would imagine that a lot of those folks dining on Greenville, would enjoy being able to walk to dinner.

Here’s a few early Sunday morning photos of Greenville Avenue hot spots.

File Apr 26, 7 48 43 AM

Transit Bicycle Company on Lower Greenville

File Apr 26, 7 49 10 AM

Nora restaurant on lower Greenville

Mudsmith on lower Greenville Avenue

Mudsmith on Lower Greenville

HG Supply on Greenville Avenue

HG Supply on Greenville Avenue

Truck yard on Lower Greenville

Truck Yard on Lower Greenville

Clark food & wine co on lower Greenville

Clark food & wine company on lower Greenville

teppo on lower Greenville avenue

teppo on Greenville avenue

Trader Joe's on lower Greenville Avenue

Trader Joe’s on lower Greenville Avenue