Been here once with a friend of mine whose paintings were featured... and sold.
This place is just cool. It is an "anything-goes" art gallery featuring the work(s) of local artists, Texan artists and the work of "guests" who are national and international. But mostly up and coming Dallas artists. From $150 to $1200, you may be able to find your faux-Pollack or Basquiat (if you will) to hang on your wall (if you are so inclined.) Or just come here to look at the work of some VERY talented artists local to you. Not high art, not low art, I feel that 500X simply defies any category or labeling. It's just cool and pretty social.
It is located in an oddball part of downtown that is either Deep Ellum or Fair Park or the unnamed crevice in between the two.
There is no cost for parking around the building or in the vicinity, just be wary and pay attention to any no parking or tow signs. Otherwise, park where you can (no difficulties that I encountered.)
Bring cash. This gallery has a 'limited' selection of beer and wine (mostly wine) and they tend to run out later in the evening as it is not a "bar."
I would describe it as bohemian at it's most debonair, but built upon the most solid foundation that has apparently been here in Dallas for 30 years to date (the building it is located in has been around since 1916.)
If you want to go out on the weekend and do something VERY different and meet VERY different people, go here, you'll probably end up enjoying yourself. And if you like art, or you're a patron of art, buy a painting and support the local art scene. There's some good stuff in there.
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