The House in Dallas: apartments to single-unit sales

DALLAS – The House, a high-rise condo tower in Victory Park, is about to move back to condo sales.

Last year, the 28-story tower opened its doors to residents seeking a leasing option for the urban homes. That option led to a more than 70 percent occupancy rate — a decent figure for a luxury property that came available during the recession in late 2009 and early 2010.

The bank-owned property is now spending $500,000 to reposition and remarket itself as condominium homes, as the condo market strengthens.

A portion of the marketing budget will be used to design three model condo homes. The 130-home tower is currently 83 percent occupied, with 16 of the condos being leased. The leases are not being renewed, forcing tenants to either buy the homes or move at the end of the term.

The House features one-bedroom, one-bedroom-and-a-den, two-bedroom, and two-bedroom-and-a-den homes, with floor plans ranging from 1,056 to 2,558 sf.