One of the very first resolutions passed by the first legislature to convene in Washington D.C. after the Civil War ended recommended establishing what would eventually become the Missouri-Kansas-Texas Railroad, or the MKT.
At some point, as the railroad expanded from its original Kansas border into Texas by connecting to the state’s existing railroads and, the whole thing became known affectionately as “The Katy.”
By 1993, however, railroads had long seen their heyday come and go, and Union Pacific, who owned the lines, abandoned them to the city of Dallas. When plans to use the lines as part of the DART line fell through, a group of volunteers and businesses proposed turning it into a greenbelt and trail.
And while the railroad MKT trains traversed looks a great deal different, when Capitol Peak Ventures got ready to break ground on its luxury mixed-use development called The Terminal at Katy Trail, they decided to plant a time capsule and ceremonial tree so they could make their mark on the city’s railroad history.
Capitol Peak Ventures may be a new real estate investment company, but husband-and-wife team Blake and Lindsay Bayer Shipp are familiar faces in the real estate world.
Blake was the managing director for Weitzman, and Lindsay has had subtantive stints at Bayer Properties and Open Realty Advisors.
“The Katy Trail is one of the brightest gems of the city of Dallas,” said Blake. “It is a privilege to be able to create a residence alongside it, an honor that we do not take lightly. The Terminal pays homage to the trail’s past, present, and exciting future. It is part of a greater ecosystem that celebrates the Katy Trail, not just as the city’s premier destination for jogging, biking, skating, and walking, but a place of nature and beauty for meditation and camaraderie.”
The Shipps, who live in Preston Hollow, brought architect Michael Hsu and real estate professional Faisal Halum of Briggs Freeman Sotheby’s on board to collaborate, as well as developer Laurie Sands Harrison, who is the executive director of The Rosewood Corp. and is also an investor.
Harrison, the daughter of the late Caroline Rose Hunt, said the project’s goals are much like the traditions of Rosewood and her mother when it comes to supporting projects.
“The Terminal is a unique, signature property that exemplifies the Rosewood tradition of excellence,” she said. “My mother, who was very proud of Dallas and its biggest advocate, changed the complexion of Uptown. It is in my genes to follow my mother’s footsteps, finding and supporting jewel projects like The Terminal that will enhance the city.”
Construction began March 22, and the project, which is located at the corner of Buena Vista Street and Fitzhugh Avenue, is slated to be finished in roughly two years. Once it is complete, it will feature a light-filled walk-through paseo with shopping, innovative dining experiences, and a health and wellness space that offers yoga and Pilates.
The eight-story development will be green building certified and is inspired by some of the most beautifully-designed train stations in the world.
Hsu explained that the exceptionally-crafted building “calls upon Katy Trail’s history and the grandeur of rail stations — the metals, bricks, and stone reflect and reference where The Terminal draws its name.”
“Interior spaces are finely detailed with traditional and timeless finishes of bronze, marble, stone, and wood,” he added. “The Terminal will fully embrace Katy Trail and serve as a fluid connection between the trail and the city.”
There will be 18 unique and exclusive corner residences with terraces and downtown views. The homes will have 11-foot ceilings, art lighting, and seamless floor and ceiling transitions. Oversized interior doors, a large primary suite, custom cabinetry, refrigerated wine storage, a large butler’s pantry, and chef’s kitchen will also make each unit a luxury home.
Additional amenities include a living-room-style lobby, concierge desk, valet service, underground garage parking, storage units, and much more. Residences start at $3 million.