Because it is situated in the center of many of Dallas’ highly touted private schools including Episcopal School of Dallas, Hockaday School, St. Mark’s School of Texas, Ursuline Academy and Jesuit Preparatory School of Dallas, involvement in various school-based sports, clubs activities and parent associations is a favorite past-time for residents. It is one of the few areas inside LBJ Freeway where homeowners can still purchase heavily treed, multi-acre lots that maintain the same pastoral look and feel of days gone by. With such advantages, it should come as no surprise that Preston Hollow is in high demand.
Preston Hollow is located six miles north of Downtown Dallas and, about three miles North of University Park and Highland Park, collectively known as the Park Cities. The lines that define Preston Hollow are somewhat blurred, but commonly defined as being bounded by the Northwest Highway to the south, Royal Lane to the north, and Hillcrest Road to the east and the “Estate Area” on the western side. The Estate Area boasts large lots with grand entrances, rolling hills and winding streets, and is home to some of the most luxurious mansions in Dallas.
Incorporated as a municipality in 1939, the North Dallas town of Preston Hollow was named for the deep wooded area with creeks and hollows extending westward from Preston Road. Doctors, entrepreneurs, industrialists, lawyers, and oil businesspeople moved to Preston Hollow. Many built country-style houses in Preston Hollow with real estate for horses and stables. In 1945 Preston Hollow residents voted to join the city of Dallas, and the municipality was annexed to Dallas shortly thereafter.
There are a lot of activities for kids in neighboring Highland Park to keep them entertained such as the always popular Holmes Aquatic Center within Curtis Park that features a 50-meter swimming pool, diving boards, a water slide, a kids’ pool for younger children and a 1,500-square-foot “sprayground”. Park Cities YMCA in Highland Park provides gymnastics lessons, karate classes, swimming lessons, youth sports (like baseball, football, soccer and cheerleading). Educational opportunities abound with the Kids SMU TEDx series that will expose children to new technologies, engaging stories and ways of thinking from some of the most influential leaders, artists, creators, innovators, and inventors who will encourage them to think in new ways and execute on their ideas.
Homes for sale in Preston Hollow are among the most expensive in the state and have continued to increase in value in recent years. Currently houses range from $800,000 tear-downs, up to $40,000,000 estates. Many 1-acre lots, as of 2009, were selling for $1 million or more. Some such lots in popular locations had a value of $2 million each. Also, Preston Hollow is home to numerous high profile residents. Politicians include former U.S. President George W. Bush, former Dallas mayors Tom Leppert and Laura Miller and her husband, retired Texas legislator Steve Wolens. Business executives include Ross Perot, energy tycoon T. Boone Pickens, former American Airlines chairman Bob Crandall, software developer Larry Lacerte, Stream Energy Chairman Rob Snyder, and investor Harold Simmons. Sports and entertainment figure residents include Dallas Mavericks owner Mark Cuban, former Dallas Cowboys players Roger Staubach and Chuck Howley, Dallas Stars owner Tom Hicks, former Dallas Cowboys football coach Wade Phillips, golfer Lee Trevino, former Dallas Stars player Mike Modano, as well as British pop singer George Michael and his partner Kenny Goss.