The Mondara Condos in Dallas have been celebrated as a rare example of luxury multifamily living in the prestigious Highland Park neighborhood.
Now the community is at the center of a legal battle in which the condo’s developer, Stillwater Abbott Development, filed for bankruptcy.
The Dallas-based developer filed for bankruptcy protection in the Northern District of Texas on Jan. 12. The filing comes almost four years after the Mondara Condominium Association sued the developer – and related entities Stillwater Abbott Management and Stillwater Abbott Development – for construction defects.
In the bankruptcy filing, Stillwater wrote that it had fewer than 50 creditors, less than $50,000 in assets and less than $50,000 in liabilities. The paperwork was signed by Robert Elliott, the manager of Stillwater Capital Investments.
In its June 2020 lawsuit, the condo association claimed the property was “negligently constructed,” causing leaks, flooding, fire hazards and cracking on interior and exterior walls. The roof, stucco cladding, windows, doors, fireplaces, interior and exterior walls, parking garage and courtyard must be extensively repaired or replaced, the lawsuit alleged.
Stillwater declined to comment on the bankruptcy filing.
Robert Elliott Custom Homes and SHM Architects started construction on the 35-unit luxury community in 2015. The community is in Dallas’ Highland Park enclave, with access to the Katy Trail and the Knox District.
Paper City wrote about the “rare million-dollar condos” when two units were listed for sale in 2018: one for $1.8 million and the other for $995,000.
A unit belonging to former Urban Outfitters CEO Ted Marlow was listed for $1.55 million in 2020. Another unit in the “incredibly chic” Mondara Condos was on the market for an undisclosed price in 2022.
Meanwhile, Stillwater Capital is developing a 142-acre mixed-use project in Frisco on one of the area’s last farm tracts, Haggard Farms. The developer is also working on a $1 billion, 240-acre mixed-use project, called the Link. It’s adjacent to the PGA of America headquarters and resort, also in Frisco.
Read more
Development
Texas
Stillwater, Haggard start $20M Frisco office
Development
Texas
Stillwater to start $70M multifamily in Plano
Commercial
Texas
Dallas firm building 451K sf industrial site in Austin