In the late 70’s, the Dallas-based Hunt brothers cornered the market on silver and ran the price up. Because of the increased value of silver, robberies of the metal skyrocketed. In the Park Cities it was especially bad and James G. “Rip” Collins and his wife decided they needed a safe deposit box large enough to store their silver and valuables. He called 30 area banks and found that all of them had waiting lists and none had boxes of any decent size.
Rip partnered with Will Caruth who owned Inwood Village at the time, and they developed Caruth Security Vaults. With architects and security specialists, they planned and built a large section of Inwood Village to be a private high security vault. It was originally also utilized to store high-end automobiles, boats and motorcycles so it included a very large two-story garage. One of the biggest draws of the vault was and is the variety of box sizes, lockers, closets and rooms to rent. They opened their doors in 1981.
Within a few years, Caruth Vaults had become a major storage site for corporate backup data reels. By law, businesses were (and still are) required to store records off-site and conduct Disaster Recovery drills in case of a disaster. Caruth Vaults had a staff of 10 and a fleet of 3 delivery trucks that ran data back and forth to clients 24/7. Several years later, Rip purchased Will Caruth’s interest in the vault and it was renamed Inwood Security Vaults.
The Disaster Recovery program was developed and conducted by Rip’s son, Kyle Collins until 2000. During that time, data storage transitioned from large reels to small discs. The same amount of data took up a lot less space. Corporations still stored data but to a lesser extent. As the business evolved, the 2nd floor became unnecessary and was returned to Inwood Village. Soon the oversized garage was also returned to Inwood Village leaving a much smaller but useful private garage. Other small changes have been made, but the current business size has remained consistent since 2004.
Inwood Security Vaults has stood the test of time. Numerous other private high security vaults have come and gone in Dallas and we are the only one that remains. There is no other facility in Dallas quite like it. In fact, few from across the entire country can compare. The facility is atmospherically and temperature controlled and includes a Halon fire retardant system.
Built from the ground up to be a fortress, Inwood Vaults has foot thick steel reinforced concrete walls, floors, and ceilings and boasts five layers of bullet proof glass across the lobby. In fact the bulletproof glass has been updated with the development of more destructive ammunition. The security system was built into the very framework and not just added to an existing structure. There has never been any loss due to theft or damage.
Thanks for learning more about Inwood Security Vaults – be sure to contact us with any questions and reserve your private vault today.