Globe Street gives the lowdown on a new residential project in East Dallas, just off Henderson near Fitzhugh. TheÂ first phase of the Santa Barbara Villas, 30 three-story townhomes built in the Spanish Colonial Revival style that SB is famous for, is expected to be completed by the second quarter of next year. When completed, the $42 million Santa Barbara Villas will consist of 130 such homes. No, the homes aren’t $42 million each — more like $400k-$450k. But if they were to be true to their Santa Barbara inspiration, the larger figure would be appropriate.