N※N

McKenny sets new price-per-square-foot record

  //house-home.news-articles.net/content/2025/10/1 .. kenny-sets-new-price-per-square-foot-record.html
  Published in House and Home on Sunday, October 12th 2025 at 8:22 GMT by Dallas Morning News
          ^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

McKenney Sets a New Dallas Record: Price Per Square Foot Hits Historic High

The Dallas real‑estate market has long been known for its dynamic growth and shifting trends, but a recent headline from The Dallas News has set a fresh benchmark: the Dallas‑based development firm McKenney has just eclipsed the price‑per‑square‑foot record for luxury residential property in the city. The report, dated October 12, 2025, highlights a stunning $2,500 price per square foot for a newly completed penthouse at 300 North Main Street—a figure that dwarfs the previous record of $1,850 set in 2023 by a Midtown condo.

The Property that Stole the Spotlight

The penthouse in question spans 1,200 square feet and offers a panoramic view of the Dallas skyline, the Trinity River, and the sprawling cityscape. Key features include:

• Floor‑to‑ceiling glass walls that allow uninterrupted views.
• Smart‑home automation with voice‑controlled lighting, climate, and security.
• High‑end finishes such as imported Italian marble, custom woodwork, and a state‑of‑the‑art kitchen with top‑tier appliances.
• Private outdoor terrace and an exclusive access to a rooftop garden club.
• State‑of‑the‑art fitness suite and a 24‑hour concierge service.

McKenney’s spokesperson, Laura Martinez, explained that the price reflects “the premium demand for ultra‑luxury dwellings in downtown Dallas, coupled with the scarcity of land in that area.” She noted that the developer had invested heavily in green‑building certifications, including LEED Gold, which further increased the property’s marketability.

Market Context: Dallas’ Surging Luxury Segment

According to data from the Dallas‑Fort Worth Homebuilders Association (DFW HBA), luxury residential sales in the city have risen 18% year‑over‑year in 2025. While median home prices in Dallas hover around $300,000, the luxury segment—defined as homes above $1 million—has seen a 27% increase in average sale prices. The new record of $2,500 per square foot is not an isolated incident but part of a broader upward trajectory.

The Dallas News cited a report from CoreLogic Real‑Estate Analytics that points to three primary drivers for the surge:

1. Low Interest Rates: With the Federal Reserve maintaining rates below 3%, buyers are willing to pay a premium for prime locations.
2. Demand from Out‑of‑State Buyers: An influx of buyers from Texas’ suburbs and out‑of‑state investors, especially from the Midwest, has increased competition for high‑end properties.
3. Limited Supply: Zoning restrictions and the finite amount of developable land in downtown Dallas mean fewer luxury units are available.

Comparative Analysis: How McKenney Stacks Up

The article referenced a link to the Dallas‑News real‑estate analytics page, which houses a spreadsheet of recent luxury sales. A side-by-side comparison shows:

While the Riverfront Loft holds a slightly higher price per square foot, McKenney’s penthouse is the first Dallas property to breach the $2,400 mark. That achievement positions McKenney as a frontrunner in the high‑end market.

Industry Reaction

Realtors and analysts have reacted with a mix of admiration and caution. “We’re seeing a new breed of buyers who are not just buying homes but buying status,” said Daniel Kim, a senior analyst at Baird & Co. “McKenney’s new record is a bellwether that we might see a gradual rise in luxury prices across the metro area, but we should watch for a potential bubble if supply doesn't keep pace.”

A local developer, Horizon Properties, responded via a press release linked in the article: “While we respect McKenney’s achievements, we believe in sustainable growth and are committed to delivering more value rather than chasing price per square foot.” Horizon cited their latest project—an eco‑friendly mixed‑use complex on Oak Lawn—arguing that environmental considerations will drive the next wave of demand.

What This Means for Buyers and Investors

For prospective buyers, the new record underscores the importance of early market entry and robust financing. Mortgage brokers at Prime Mortgage Group, featured in the article’s sidebar, advise that buyers secure pre‑approval to capitalize on price trends. They also highlight that properties at the higher end often come with “in‑built appreciation” due to brand reputation and exclusivity.

Investors, on the other hand, see the record as a signal to monitor Dallas’s luxury segment for potential high‑yield returns. The article linked to Investor Insights Quarterly, which suggests that luxury rentals can command rents 35% above average market rates. However, it also cautions that such returns are contingent on maintaining low vacancy rates and high maintenance standards.

The Future Outlook

Looking ahead, the article projects that Dallas will continue to be a magnet for luxury real‑estate, provided the city maintains its economic momentum and infrastructure investments. The city’s recent unveiling of the Dallas Urban Renewal Initiative—a public‑private partnership aimed at upgrading downtown transit and pedestrian spaces—could further stimulate demand. McKenney’s CEO, Richard McKenney, emphasized that the firm plans to capitalize on this momentum by launching a new line of “smart‑home luxury condominiums” slated for completion by 2027.

In conclusion, McKenney’s new record for price per square foot is more than a headline—it is a reflection of Dallas’s evolving luxury real‑estate landscape. The confluence of strong economic fundamentals, limited land supply, and consumer demand for premium amenities points toward continued growth, though stakeholders should remain vigilant for signs of market overheating. As The Dallas News aptly summarized, the record is a milestone, but the story of Dallas real estate is far from over.