Comments on: Will NorthPark Mall Belong to the Caruth Family?

By: newsgirl

newsgirl — Fri, 07 Aug 2009 18:36:10 +0000

I think the comments should be on.
and whats up with the spoiler alert

By: El Rey

El Rey — Fri, 07 Aug 2009 17:51:38 +0000

The 99 year lease scheme is even bigger in Los Colinas / Irving. Just about everything up the 114 corridor is owned by the Carpenter family and all of the structures are on 99 year leases. Except the University of Dallas, that was donated to the University by the Carpenters.

[[Some say the ghost of Karen Carpenter roams the halls of the University, but I saw her ghost at a Luby's last month...] Wick and Tim, this is proof that comments are crazy and shouldn’t be allowed!]

By: LakeWWWooder

LakeWWWooder — Fri, 07 Aug 2009 17:47:47 +0000

A lot of folks in the built-like-a-fortress homes in Caruth Hills, Caruth Meadows, Caruth Place and Caruth Terrace will be glad to hear this.

By: Grumpy Demo

Grumpy Demo — Fri, 07 Aug 2009 16:00:15 +0000

Gotta second Candy (who know she’s up on CRE? Kudos girl!)

Not an unusual structure for a commercial real estate deal, helps the land owner with a low basis in land that has appreciate a great deal avoid having to sell the land and pay taxes.

Comments turned on? Bush sucks. Back to being banned.

By: DB

DB — Fri, 07 Aug 2009 03:26:39 +0000

Ray Nasher spoke at a class at SMU in the mid 1970’s and talked about the 99 year land lease. He said that in 99 years he and his wife would be long gone and he would have benefited tremendously over his life time which he did. I don’t recall whether or not he mentioned children then. I do remember him saying that he had been a teaching tennis pro before coming up with the Northpark concept. He definitely made the correct career choice. He did a lot of good things for Dallas.

By: Lori

Lori — Fri, 07 Aug 2009 02:49:30 +0000

If I live to be 103, I might have an answer for you.

By: Tim Rogers

Tim Rogers — Thu, 06 Aug 2009 23:11:32 +0000

A well-informed FBvian tells me that Nancy Nasher and her husband, David Haemisegger, bought the land under NorthPark. It’s no longer on a lease.

The same FBvian says W.W. Caruth Jr.’s (aka Will Jr.’s) kids did own Medallion. But Will Jr. had his sons donate Medallion to their family’s Hillcrest Foundation, which is administered by the Communities Foundation.

And there you have it.

By: JoshT

JoshT — Thu, 06 Aug 2009 21:57:37 +0000

They also own 300 acres including Park Lane Ranch, Park Lane Equestrian Center, and Top Golf.

And going out on a limb here but, if they own the dirt at North Park, and Top Golf, I will bet they own all or most the dirt on Park Lane, which has all those apartments, and condos.

By: MP

MP — Thu, 06 Aug 2009 21:53:33 +0000

you would have to read the lease.

By: Bill

Bill — Thu, 06 Aug 2009 21:30:14 +0000

I’m not 100% sure but the Caruth family has a similar agreement for the land that The Village Apartments sits on and is leased by LPC.

100% sure that the Caruth family still owns Medallion Center. That is a cash cow for their heirs. Not sure how many ways the rent checks are split every month. But it was setup for W.W.’s kiddos.