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Welcome to The Dallas Newsletter!

In today’s edition:

• Turtle Creek mansion hosts Kips Bay.

• Bennett's third interception to Wood.

• A deep dive into the life of Henry Cisneros.

• And more…

Quote of the Week

“Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing or learning to do.” 

–Pele

Sponsored

Investors have trusted this platform with +$1bn - here’s why

Through COVID, soaring inflation, and today’s crushing interest rates, a group of enterprising investors have collectively entrusted one billion dollars from their portfolios to Masterworks’ art investing platform.

Why? Because the contemporary art Masterworks offers—from legends like Picasso and Banksy—has demonstrated a low correlation to the stock market, inflation resistance, and exceptional appreciation potential. Not to mention Masterworks has completed 23 successful exits to date, distributing over $60+ million in net proceeds to investors in those offerings.

These investors didn’t need art expertise to diversify with blue-chip art, because Masterworks does all the heavy lifting, finding artists with appreciation potential (buying <3% of works offered) and then breaking an art offering into shares for you. If Masterworks sells a piece again for a profit, investors get a return. With 3 illustrative sales, Masterworks investors have realized net annualized returns of +17.6%, +17.8%, and +21.5%.

With 65,000+ investors, offerings can sell out quickly. Luckily, you can get priority access here.

Past performance is not indicative of future returns. Investment involves risk.

Disclosures:

The content is not intended to provide legal, tax, or investment advice.

No money is being solicited or will be accepted until the offering statement for a particular offering has been qualified by the SEC. Offers may be revoked at any time. Contacting Masterworks involves no commitment or obligation.

Contemporary art data based on repeat-sales index of historical Post-War & Contemporary Art market prices from 1995 to 2023, developed by Masterworks. There are significant limitations to comparative asset class data. Indices are unmanaged and a Masterworks investor cannot invest directly in an index. 

Net proceeds distributed back represents the total liquidation proceeds distributed back to investors, net of all fees, expenses and proceeds reinvested in Masterworks offerings, of all works Masterworks has exited to date.

See important Reg A disclosures at masterworks.com/cd.

Trivia

What is the name of the historic Dallas hotel that opened in 1912 and is known for its luxurious accommodations?

A) The Adolphus

B) The Joule

C) The Ritz-Carlton, Dallas

D) Omni Dallas Hotel

Answer to Last Week’s Trivia:

The largest university in Dallas in terms of enrollment is C) University of Texas at Dallas.

News

💼Business

High-profile Turtle Creek mansion to host esteemed Kips Bay Decorator Show House. (link)

New Thai restaurant coming to downtown Arlington. (link)

🏒Sports

Stetson Bennett throws his third interception of the day to Cowboys safety Julius Wood in the third quarter. (link)

Cooper Rush finds Jalen Brooks for a deep Cowboys completion. (link)

🏦Finance

New route for high-speed train in Dallas receives additional funding to move forward. (link)

Upcoming Events

Here are some events that are happening in our city this week. There is a good mix between sports, entertainment, conferences, concerts, and more.

Sports

⚾ Frisco Roughriders vs. San Antonio Missions
Riders Field, Frisco, TX
Thursday, Aug 22th | 7:05 PM | (More info)

Music

🎺 Uforia Latino Mix Live
Dos Equis Pavilion, Dallas, TX
Saturday, Aug 24th | 4:00 PM | (More info)

🎤 Lucky Daye - The Algorithm Tour
South Side Ballroom, Dallas, TX
Thursday, Aug 22th | 8:00 PM | (More info)

🎵 TisaKorean - The Silly Show
The Cambridge Room at House Of Blues, Dallas, TX
Sunday, Aug 25th | 7:00 PM | (More info)

Family

🐂 Labor Day Family Fun Weekend
8525 Garland Rd, Dallas, TX 75218
Saturday, August 31st | 8:00 AM | (More info)

Image of the Week

Every week, I have a habit of making some AI art about our city.

This week, I typed in “An architecturally symmetrical Dallas.” and this is what I got.

Let me know what ideas you have for this. I really enjoy making these types of photos.

Dallas Historical Events

1867: Reconstruction era and its effects on Dallas.

In 1867, as the United States entered the Reconstruction era following the Civil War, Dallas, like much of the South, faced profound changes and challenges. This period aimed to rebuild the Southern states, reintegrate them into the Union, and redefine the social and economic fabric of the region, particularly in terms of race relations and civil rights for newly freed African Americans. Dallas, a small but growing community at the time, experienced significant impacts from these national policies and the broader shifts in societal norms. The end of slavery and the efforts to rebuild provided both opportunities and tensions in the city, as former Confederates and freedmen navigated the new landscape of rights, labor, and power dynamics.

The Reconstruction era in Dallas was marked by efforts to restructure the local economy, which had been heavily reliant on slavery and agriculture before the war. Freed African Americans sought to exercise their newfound rights, participating in the economy and politics, while facing resistance from segments of the white population. This period also saw the establishment of institutions and infrastructure aimed at fostering development and integration into the broader American economy. However, the enforcement of Reconstruction policies and the push for civil rights led to a complicated and often hostile environment, with instances of violence and discrimination against African Americans attempting to assert their rights.

Despite the challenges, Reconstruction laid the groundwork for significant transformations in Dallas. The era contributed to the city's diversification and growth, as railroads expanded, new businesses emerged, and the population increased with settlers from both the North and South, including freed African Americans seeking opportunities in a reconstructed Texas. The legacy of this era in Dallas is complex, reflecting both the strides made towards equality and the persistent struggles against racial injustice. Over time, the changes initiated during Reconstruction would shape the social, economic, and political development of Dallas, contributing to its evolution into a major urban center in the Southwest. The Reconstruction era, with its mix of progress and setbacks, remains a critical chapter in understanding the history and character of Dallas.

Famous People From Dallas

Henry Cisneros (1947–present): Politician and Secretary of Housing and Urban Development.

Early Life and Education in San Antonio (1947–1968)

Born and raised in San Antonio, Texas, Henry Cisneros was influenced by the vibrant culture and community activism of his hometown. His early life in San Antonio instilled in him a deep commitment to public service. He excelled academically, earning a scholarship to attend Texas A&M University, where he majored in English and urban studies, laying the foundation for his future career in politics and urban development.

Higher Education and Early Career (1969–1974)

Cisneros furthered his education at Harvard University, earning a master's degree in urban and regional planning. His academic achievements were complemented by a growing interest in public service, leading him to work in the administration of President Lyndon B. Johnson. This experience solidified his desire to make a tangible impact on urban communities.

Entering Local Politics: San Antonio City Council (1975–1981)

Cisneros's political career began on the San Antonio City Council, where he was known for his focus on housing, economic development, and community improvement. His tenure on the city council was marked by efforts to revitalize San Antonio's urban core and to address the needs of its diverse population.

Mayor of San Antonio (1981–1989)

As the first Hispanic mayor of a major U.S. city, Cisneros transformed San Antonio through initiatives that spurred economic growth, improved infrastructure, and enhanced the quality of life for its residents. His leadership helped to position San Antonio as a model for urban development and multicultural integration.

Secretary of Housing and Urban Development (1993–1997)

Appointed by President Bill Clinton, Cisneros served as the Secretary of Housing and Urban Development (HUD). In this role, he was instrumental in implementing policies aimed at revitalizing urban areas, increasing affordable housing, and promoting homeownership among low- and moderate-income families.

Post-Political Career: Urban Development and Philanthropy (1998–present)

After leaving public office, Cisneros continued to influence urban development through his work in the private sector and his involvement in various philanthropic efforts. He founded CityView, a company focused on urban real estate, aimed at developing affordable housing and revitalizing city neighborhoods.

Connection to San Antonio and Its Transformation

Cisneros's deep connection to San Antonio is evident in his enduring impact on the city's development. His tenure as mayor and his ongoing engagement with urban initiatives have contributed to San Antonio's reputation as a vibrant, inclusive, and economically thriving city.

Advocacy for Hispanic Americans

Throughout his career, Cisneros has been a strong advocate for Hispanic Americans, working to ensure their access to education, housing, and economic opportunities. His leadership has helped to elevate the visibility and contributions of Hispanic Americans in politics and society.

Awards and Recognition

Cisneros's contributions to urban development and public service have been recognized with numerous awards and honors, reflecting his significant impact on American cities and communities.

Key Achievements:

• First Hispanic mayor of a major U.S. city, transforming San Antonio's urban landscape.

• Served as Secretary of Housing and Urban Development, promoting affordable housing and urban revitalization.

• Founded CityView, focusing on affordable urban real estate development.

• Advocated for the rights and opportunities of Hispanic Americans.

Summary

Henry Cisneros's life and career exemplify a profound commitment to enhancing urban environments and addressing the needs of underserved communities. From his early days in San Antonio to his national influence as Secretary of HUD, Cisneros has been a pivotal figure in shaping modern urban policy and promoting inclusivity. His legacy is a testament to the power of dedicated public service and visionary urban development strategies.

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-Matthew Larsen

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