DALLAS FORT WORTH | Urban + Suburban P & C

[skys the limit]

Originally Posted by vandelay

That's a good shot. You've got a RAMSA (Ritz-Carlton), a Johnson and Burgee (The Crescent), a KPF (Federal Reserve Bank), an IM Pei (Dallas Symphony), and a Foster + Partners (Dallas Opera).

That area is an architectural treasure trove.

^^^^^^^
You are entirely correct ... the area has become a who's who of big name architect's. And of course Scott Johnson of LA based Johnson-Fain is the architect behind Museum Tower itself.

The neighborhood as seen in this view will soon have two new towers going up.

The new Frost Bank Tower at 22 stories will go up just to the left of Azure, (the 31 story condo tower which already has the 22 story "Residences at the Stoneleigh" condo tower currently under construction immediately to the right of Azure in the image).

The newest big name architect tower to go up in Dallas will be the 25 story Cesar Pelli Cesar tower that will be located just a couple blocks north of Museum Tower.

And the new 25 story Victory Tower will be just a few blocks to the left of the Cesar Pelli tower, out of view in this image.

The image below is an amateur's representation, not necessarily to exact scale, I created by taking the original image that is courtesy of CTroyMathis of Dallas Metropolis and overlaying it.

The image below shows how this view will be changing with the new soon-to-be additions of the Frost Bank tower and the Cesar Pelli tower with its extreme ultra-sleek angled design. The Pelli tower will jut out over the street below it, which will create a super cool look.

[skys the limit]

The City of Dallas and a major developer are swapping land that each owns in order to further enhance the value and development opportunities of each.

The City receives land next door to the Convention Center that will facilitate expansion of the convention center facilities to make Dallas yet more competitive in that market.

Hunt/Woodbine receives valuable land right next to the Hyatt Regency Reunion to develop into highly desirable mixed use purposes.

Persistent rumors on Dallas Metropolis talk about a possible relocation of the headquarters of Fortune 500 State Farm from Illinois to Dallas .... the land that Hunt/Woodbine will be receiving in this swap is discussed on that board as a perfect location for a major corporate "campus" to be located that includes highrise office and residential towers with retail.

The two images below show the real estate on the western edge of Downtown Dallas and a detailed drawing of which parcels will be swapped in the deal.

---------------------------------------------------------------------

City of Dallas and Hunt/Woodbine propose to swap old Reunion Arena land

By Robert Wilonsky
8:43 am on December 1, 2012

http://cityhallblog.dallasnews.com/2...ena-land.html/

In 2005 the city of Dallas and Hunt Consolidated discussed razing Reunion Arena, which was still years away from being reduced to rubble, and engaging in a land swap that would have led to the creation of an “entertainment district” between the Dallas Convention Center and the Hyatt Regency. But despite months’ worth of hype and hoopla, thanks in large part to would-be developer Billy Bob Barnett, nothing ever came of it. Reunion was torn down in November 2009. What remains is a nice green patch of empty.

The city is ready to try again to make something out of that nothing.

On Monday the Dallas City Council’s Economic Development Committee will once more discuss swapping Reunion Arena land with Hunt/Woodbine — this time, to make way for “potential relocation sites,” in the words of Downtown Dallas Inc. President John Crawford.

“This is a game-changing event as it relates to downtown,” says Crawford. (Calls made to city and Woodbine officials to discuss the deal were not returned.)

“It gives us the option to do more corporate campuses and new development. It serves as the launching pad.”

According to city documents, the deal involves consolidating a little more than 14 acres’ worth of land — and cash. The city would end up with close to seven acres next to the Dallas Convention Center, while Hunt/Woodbine would get a little more than eight acres near the Hyatt and Union Station. The city would also receive $3.5 million.

...

“The bottom line is that the recommendation is another example of a public-private partnership to accomplish mutual objectives using Downtown Dallas 360 as the template to create enormous real estate opportunities for the city and Hunt/Woodbine in the Reunion/Union Station District, which is one of the five key focus areas of the 360 plan,” he says.

“It will unquestionably allow the CBD to compete for future relocations providing high visibility, access to intermodal transportation and enhance the western entrance to the city.”

[greywallsareboring]

Man, what a great picture! I certainly hope something gets built here as it will make that Hyatt feel much less lonely.

[skyscraperfan23]

We need a shinier building next to hyatt regency.

[dollaztx]

I know that downtown has a cap on height due to it's proximity to Love Field but what is the height limit here? Considering it's on the opposite side of the airport.

[skys the limit]

Downtown Dallas West End building being renovated
into loft apartments & retail space




By Steve Brown, Dallas Morning News, December 20, 2012

The last unrestored building in Downtown Dallas’ West End historic district has a new owner and a plan for a new use.

The 107-year-old Purse Furniture building at 601 Elm St. has been empty since 1994.

The 6-story, brick commercial building is prized by preservationists for its cast-iron front façade and ornate brick work.

New owner McCoy Development Co. plans to convert the building into a combination of loft apartments and retail space.

....

“We plan to break ground this summer,” McCoy Development’s Todd Smith said. “We are very excited about the significance of restoring this building to its former glory.”

McCoy Development has hired Dallas architect Architexas to design the redevelopment.

Architexas is the same design firm that did Downtown’s Joule hotel and the Awalt Building.

....

Full article: http://bizbeatblog.dallasnews.com/20...district.html/

[skys the limit]

211 N. Ervay in Downtown Dallas to be
renovated into a 250 room hotel



Dallas Business Journal by Candace Carlisle, Staff Writer
Date: Wednesday, December 19, 2012, 11:31am CST
http://www.bizjournals.com/dallas/ne...1-n-ervay.html


Turkish developer Mike Sarimsakci of Alterra International LLC purchased 211 N. Ervay St., a long-vacated 18-story office tower known for its aquamarine exterior.

The deal closed on Friday after the developer announced he would purchase the property in May. Terms of the deal were undisclosed.

Sarimsakci, through a limited liability company of Alterra International, also recently acquired the Butler Brothers Building at 500 S. Ervay St. across the street from Dallas City Hall, and he oversaw the acquisition of 1401 Elm St.

Plans for the redevelopment of 190,000-square-foot office tower include a 250-room hotel, a 4,000-square-foot restaurant, a coffee shop and, perhaps, a rooftop pool and lounge. The project is estimated to cost $30 million.

“It’s a nice asset, and we want to create a hotel that is standard in Los Angeles or New York,” Sarimsakci told the Dallas Business Journal earlier this year. “I see this as a hotel targeted for young professionals that want to work hard but enjoy themselves, too.”

Alterra International plans to begin abatement of the property in January. The company plans to clean up the exterior and add lighting to the building soon.
The redevelopment project is expected to take nine months to a year, Sarimsakci said. He would not disclose the broker's information on the deal.

The property's previous owner, Robert Rubenstein, did not return phone calls seeking comment.

211 N. Ervay was designed by Thomas Stanley and built in 1958 by developer Leo Corrigan. The property, which has been vacant since 1995, has been considered a blight in downtown Dallas and has attracted vagrants to the building, which has a ground-level liquor store.

[Dale]

Surely with these never-ending conversions Dallas is whittling into its office vacancy rate ?

[skys the limit]

Construction begins on $100 million Uptown apartment tower
in West Village



Dallas Business Journal by Candace Carlisle, Staff Writer
Date: Wednesday, December 19, 2012, 2:06pm CST
http://www.bizjournals.com/dallas/ne...est-citys.html

Forest City Enterprises Inc. (NYSE: FCEA and FCEB) announced Wednesday that the developer has begun construction on a $100 million residential and retail high-rise project in the West Village neighborhood of Uptown.

In August, Forest City closed on roughly three acres of land at McKinney Avenue and Blackburn Street for the 24-story high-rise project, which includes two, five-story buildings.

The project will feature 381 apartment units and 37,000 square feet of retail space. The three buildings will have apartments on the upper floors, with retail on the ground level.

There's a greater demand for mixed-use developments, like this project, in Uptown Dallas, said Brian Ratner, president of Forest City Texas.

Forest City will own and manage the residential portion of the project. Cityplace Co. will own the retail space.

The project's retail development will be an important addition to the West Village neighborhood, which will total more than 260,000 square feet of retail space, said Neal Sleeper, president of Cityplace Co.

The City of Dallas Regional Center, a public-private partnership between the City of Dallas and Civitas Capital Group, financed the project. Good Fulton & Farrell is the project architect. Zeigler Cooper Architects consulted on the project's design.

Rogers O'Brien Construction Co. is the project's general contractor.

Construction is slated for completion by fall 2014.

Forest City is also working on the redevelopment of the Continental Building in Downtown Dallas. The developer recently gave the Dallas Business Journal a hard hat tour of the property.

[simms3_redux]

I haven't been to downtown Dallas in years...when I went twice a few years ago (4-6 years ago) the area was DEAD, but it seems that since then there has been an explosion of new residential/hotel, and Uptown has continued to fill out with a new connection via Klyde Warren park to downtown.

Congrats on all the announcements, all these developers/investors can't be wrong about the city's potential.

[skys the limit]

Work starts on highrise office tower project
in Dallas' Turtle Creek/Uptown



By Steve Brown, Dallas Morning News, December 14, 2012
http://bizbeatblog.dallasnews.com/20...le-creek.html/


Ross Perot Jr.’s Hillwood real estate company has quietly started work on its big Turtle Creek office development.

Hillwood bought the vacant 6-acre tract at Turtle Creek and Bowen Street in 2011. Back then the company said there were no immediate plans to develop what’s one of the last empty properties along Turtle Creek.

Since then, real estate brokers say that Hillwood has been working with architects and planners to come up with an office high-rise for the property.

General contractor Balfour Beatty is now busy on the lot doing infrastructure work and such.

“We are currently constructing a new city bridge and extensions for Turtle Creek Trail,” Hillwood spokesman James Fuller said Friday.

Part of the development plan for the tract will be the extension of Gillespie Street across the creek to provide better access.

So far the developer isn’t ready to talk about exactly what kind of office project will be built on the site or when it will open.

“We are exploring development options for that site, but have no firm plans yet,” Fuller said.

But it’s a safe bet that Hillwood wouldn’t be doing all that expensive site construction unless it planned to put up a building.

The Turtle Creek project will be Hillwood’s first big Dallas project since the development of Victory Park near downtown.

Between the Hillwood building and construction across the street at Columbus Realty’s mid-rise apartments, the corner of Cedar Springs Road and Turtle Creek is going to be busy with building activity for some time to come.

Hillwood’s site – which also fronts on the Katy Trail – has been vacant for years.

The land once was occupied by a small office complex.

Hillwood bought the site from Classic Residences by Hyatt which had planned to build two 20-story residential towers on the land.

[skys the limit]

"One Dallas Center" to undergo $100+ million renovation
into 250 residential units and office space







Dallas Business Journal by Candace Carlisle, Staff Writer
Date: Wednesday, December 19, 2012, 1:32pm CST

A limited partnership affiliated with Developer Shawn Todd's Dallas-based firm Todd Interests and Moriah Real Estate Company of Midland closed on its Patriot Tower deal at 350 N. St. Paul St. on Wednesday.

The deal marks the start of a massive redevelopment of the 30-story downtown Dallas skyscraper that's projected to cost more than $100 million. Real estate sources have applauded the project as one of major significance in the redevelopment of downtown Dallas.
....

Todd Interests and Moriah Real Estate Company partnered on the redevelopment of the U.S. Post Office and Courthouse building, which held a grand opening earlier this year. The redevelopment of Patriot Tower will be very similar, he said.

Part of the attraction to Patriot Tower: The iconic I.M. Pei design. And pulling HKS in as the redevelopment project architect was key, he said.

HKS Inc. has signed a 22-year lease agreement for the bottom seven floors of the office tower. The Dallas-based architecture firm has been in the market looking for a new headquarters as it continues to grow its business.

The firm wanted to relocate from Uptown to Downtown Dallas to support the city, said HKS CEO Ralph Hawkins.

The firm's move to Downtown will bring about 500 employees into Dallas' city center. Paul Whitman and Larry Toon of Jones Lang LaSalle represented the firm in its lease negotiations.

Dallas-based Greyhound Lines Inc. will keep its headquarters in Patriot Tower and will office on floors 8-13. The bus company was considering leaving the building that's fallen into some disrepair.

Along with redoing the office space, Todd says he plans to add 250 contemporary apartments in the building. The building's "arm" will be redeveloped into a solid glass perimeter wall on the street-level portion of the property.

The building will be rebranded One Dallas Center.
....

Construction is scheduled to begin immediately on the 600,000-square-foot property. Anders Construction is the general contractor for the project.

HKS is scheduled to move into the building in May.

Full article: http://www.bizjournals.com/dallas/ne....html?page=all

[R1070]

All of the stuff going on around Dallas is very exciting.

[Nagih12]

Originally Posted by R1070

All of the stuff going on around Dallas is very exciting.

I agree, Dallas is seeing a whole bunch of construction to really improve the quality of life in Dallas, and make downtown an attractive place to be. It has come to the point where I cannot even count how many projects, big and small, that will impact the city. For all of these vacant buildings coming back to life means that there is an interest of coming back and investing in the center of the city.

I'm also glad southern Dallas is getting the attention it deserves, and getting some much needed development. The southern sector really has the potential and we are beginning to see this coming to play.

[colemonkee]

The southwestern and eastern peripheries of downtown Dallas are where a tremendous opportunity for new development exist. The conversion of these buildings into residential will only make those areas more and more attractive to larger scale development. I think the park that's going in near the west end just off of Commerce is going to spur some more residential development in the immediate area, and the conversions of One Dallas Center, 211 N. Ervay, and the large hotel just south of the park on Main (can't remember the name for the life of me), should help push development further east towards the 75 and Deep Ellum. Here's hoping some of that new development is skyline changing.

[skys the limit]

Originally Posted by simms3_redux

I haven't been to downtown Dallas in years...when I went twice a few years ago (4-6 years ago) the area was DEAD, but it seems that since then there has been an explosion of new residential/hotel, and Uptown has continued to fill out with a new connection via Klyde Warren park to downtown.

Congrats on all the announcements, all these developers/investors can't be wrong about the city's potential.

^^^^^^^
Not exactly sure where you were when you visited so many years ago but now there are bustling streets and districts alive with activity in Central Dallas.

Main Street District in the CBD gives you the feel of being in New York City or Philadelphia, with hordes of people on the street, day and night in the canyons of skyscrapers. People walking their dogs by the scores that live in the renovated and new residential towers. So many new and busy restaurants, bars, taverns, art galleries, etc. jumping with activity.

The new Klyde Warren Park is so busy that you can hardly move in it .... I was there 2 weekends ago for about 4 hours and there were so many people it was like Central Park. All the while the freeway underneath it, Woodall Rodgers, was snarled in bumper to bumper traffic moving at a snail's pace. And this was on a late Saturday afternoon.

Central Dallas is absolutely alive and bustling and growing stronger by the day. More than $2.3 billion in new development that has occurred in the city's core is bearing fruit, with another $1.0 billion on the way.

An article in the Dallas Morning News from today tells the story quite well. It is long and I will not post it here because of its length, but the transformation in Central Dallas is nothing short of impressive.

What appears to be an almost overnight transformation has actually been in the making for 20 or more years with two initial key major investments that launched it all - the DART mass transit rail system making Downtown Dallas its focal point and the creation of the Arts District.

I'll post some excerpts from the article tomorrow but for those who wish to read the entire thing here is the link:

Downtown Dallas Begins to Come of Age:

http://www.dallasnews.com/business/c...ome-of-age.ece

[Owlhorn]

I wouldn't exactly compare it to New York or Philly, but there has been a huge improvement in the last couple of years. Even at night. It definitely was a ghost town. Klyde Warren Park is great and really surprising. Can't believe how busy it remains. Just a really nice spot to be, and lots of kiddos there. When a lot of this was drawn up 10 years ago, it was hopeful that the transformation would begin and it has. Still some major projects going on and in the planning stages, so the best is definitely ahead(as is the majority of downtown population growth).

[Nagih12]

Originally Posted by Owlhorn

I wouldn't exactly compare it to New York or Philly, but there has been a huge improvement in the last couple of years. Even at night. It definitely was a ghost town. Klyde Warren Park is great and really surprising. Can't believe how busy it remains. Just a really nice spot to be, and lots of kiddos there. When a lot of this was drawn up 10 years ago, it was hopeful that the transformation would begin and it has. Still some major projects going on and in the planning stages, so the best is definitely ahead(as is the majority of downtown population growth).

Right. It is a stretch to compare Dallas to well established dense cities, like New York and Philly. However comparing Dallas to such great cities imo is good because it will drive the city to do whatever it take to become a city more pedestrian friendly, good transit, a city that will build denser, and just more efficient. A strong core is good for the city. 2012 was a year of opening such great projects, but I believe 2013 will be the year for even more drastic projects. Dallas has come a long way, from being that sleepy commuter downtown, to becoming an emerging neighborhood. Developers, businesses, and people alike are beginning to see the potential Dallas possesses.

Like I said on my last post, there are too many projects for me to name, but they are all beneficial for the growth and attractiveness of the downtown. I took my parents through downtown, and could not believe how much it changed after many years of avoiding downtown. It's so great, other neighborhoods near downtown are being revitalized and changing rapidly like the design district, oak cliff, etc. Time will tell how great Dallas will become, but it seems like it's becoming reality as every year passes.

[Owlhorn]

2013 may be a much bigger year for Dallas. A lot of announcements. A lot of projects under construction that aren't even mentioned here. It amazing just how many project are going or are on the board in the areas in and around the inner city neighborhoods. I think many see the huge number of housing and commercial unit starts Dallas has been having and assume that's 95% suburban. But there is a ton of stuff going on. Its hard to report on them all here, so I will try to keep up better in 2013. Especially places like the Knox-Henderson and Fitzhugh Corridors and Oaklawn where those neighborhoods are being entirely being rebuilt block by block.

[skys the limit]

D-FW office demand almost doubled this year,
with best net leasing since 2006



By Steve Brown, Dallas Morning News, 12-27-12

Businesses leased more office space in Dallas-Fort Worth this year than in the past six years.

And net office demand in the area almost doubled thanks to a surge of transactions in the final months of 2012.

Expanding and relocating tenants occupied more than 3 million square feet of additional D-FW office space in 2012, according to new estimates by commercial real estate firm Cushman & Wakefield of Texas Inc. About a third of the net office leasing was in the fourth quarter.

“It’s all thanks to our local economy,” said Mike Wyatt, Cushman & Wakefield’s executive director. “What we saw in 2012 was organic growth spread across a number of industries.”

Wyatt said that even downtown Dallas, which has suffered from high vacancy rates in the past year, is seeing a boost in office demand.
....

The largest net leasing totals were in Far North Dallas, the Uptown-Turtle Creek area and the Telecom Corridor along U.S. Highway 75.

Overall office vacancy rates in the D-FW area are now about 19 percent, the lowest level since before the recession hit.

With demand up and vacancy down, construction of office projects is ramping up. About 1.3 million square feet of office space is under construction in North Texas. That’s up from less than 500,000 square feet a year ago, Cushman & Wakefield said.

Wyatt said he’s optimistic that the growth in 2012 will carry over into the new year.
....

Article: http://www.dallasnews.com/business/c...since-2006.ece