Dallas Power Lunch Spot Sevy’s Grill To Close

The Dallas real estate world has just six months left to savor the crispy onions at Sevy’s Grill in Preston Hollow.

The popular power lunch spot, whose chopped salad is served under a pile of fried alliums that could inspire poetry, announced that it’s closing in June.

Owners Jim and Amy Severson said they were unable to reach an agreement on their next lease, the Dallas Business Journal reported. The mixed-use building, at 8201 Preston Road, was picked up by Austin-based Endeavor Real estate in September.

In other words: Endeavor raised the rent.

The company, best known for its multifamily properties in Austin, made Preston Sherry Plaza, longtime home to Sevy’s, its first mixed-use buy in Dallas. The seven-story building constructed in 1986 features two levels of retail and five stories of office space.

The Seversons opened Sevy’s Grill at the Preston Hollow property in 1997. In its 28-year run, the restaurant has become a magnet for business lunches, especially among the Dallas real estate world — to the extent that it’s never a bad idea to lower your voice if you’re, say, talking to a reporter or cutting a deal.

The restaurant said in a Facebook post that its last day will be June 27. But, there may be hope for continued enjoyment of those crispy onions: the Seversons are already scouting for a new location.

Virgin Hotels asks court to name Bill Hutchinson’s accusers

Disgraced developer Bill Hutchinson, who’s been accused of sexual assault by at least five women (including a minor), is still fighting a civil lawsuit filed by three Dallas women who say the Virgin Hotel Dallas developer assaulted them. The accusers named Virgin Hotels, claiming the company had knowledge of Hutchinson’s pattern of preying upon women at the hotel and assaulting him at the apartment complex he owned across the street in Dallas’ Design District. In its latest filing, the hotel chain asked the court to publicly name the women. Virgin Hotels said the protective order in place allows the accusers to “anonymously prosecute salacious claims.” Note: this is all taking place after Hutchinson took a plea deal in a Laguna Beach sexual assault case that required him to register as a sex offender.

Home values diverge in Metroplex cities

Dallas and Fort Worth are often (misguidedly) treated as one city, and this metric was another example of the fact that the two poles of the Metroplex are far from interchangeable. Home values in Dallas and Fort Worth diverged drastically in November, with Dallas posting gains of almost 12 percent, while Fort Worth values fell 6 percent. The median listing price of a home in Dallas was $458,000 and $318,500 in Fort Worth, according to the Greater Fort Worth Association of Realtors.

Don’t Texas my California?

We usually think of the California-to-Texas pipeline being a one-way street, but a recent piece in the San Francisco Standard is challenging that notion. Texas-based investors represent an increasing number of out-of-state buyers for San Francisco commercial spaces, the outlet reported. This year, Houston-based developer Hines and Dallas-based investors Lone Star Funds and Douglas McMahon have picked up properties in San Francisco in the last year or so. The wave coincides with an influx of tech workers and artificial intelligence companies moving into San Francisco, helping thaw the previously frozen commercial market.

Austin multifamily picks up a shovel

After a deluge of supply outstripped demand in the Austin multifamily market, developers have been scared away from turning dirt on new projects. But it looks like they’re counting on better fundamentals in 2028. LV Collective, formerly known as Lincoln Ventures, is moving forward with a mixed-use project in Austin that’s been stalled for three years. The developer looks to be playing it a little safer than originally planned, having trimmed down the project’s multifamily unit count from 625 to 476. The Right Angle, at 2700 East Fifth Street, is expected to be completed in September 2028.