DALLAS FORT WORTH | Urban + Suburban P & C

[dch526]

Groundbreaking set for next week on the new 16 story Hall Arts Building. Also, based on Steve Brown, Jackson-Walker Law Firm has committed to be the 2nd large tenant in the building.

http://bizbeatblog.dallasnews.com/2013/0...-next-week-in-dallas-arts-district.html/

[toxteth o'grady]

Originally Posted by jshdodd

Actually, I bet I could.

Or you could simply re-Tweet something Pax Dickinson said.

[R1070]

Originally Posted by dch526

Groundbreaking set for next week on the new 16 story Hall Arts Building. Also, based on Steve Brown, Jackson-Walker Law Firm has committed to be the 2nd large tenant in the building.

http://bizbeatblog.dallasnews.com/2013/0...-next-week-in-dallas-arts-district.html/

Finally! I"m surprised Two Arts Plaza hasn't announced a groundbreaking as well. Does anyone know about that building?

[eburress]

Originally Posted by R1070

Finally! I"m surprised Two Arts Plaza hasn't announced a groundbreaking as well. Does anyone know about that building?

I hope they wait on Two Arts until they can come up with a better design. Each new iteration of their renderings has gotten worse, in my opinion. On the bright side though, it can only get better...right?! haha

[R1070]

Originally Posted by eburress

I hope they wait on Two Arts until they can come up with a better design. Each new iteration of their renderings has gotten worse, in my opinion. On the bright side though, it can only get better...right?! haha

lol.. well, it could work with a cool lighting concept. I really like the lights going on Hall Arts.

[Sic'EmBears]

New article about the Hall Arts Tower, which is now 18 floors.

Legacy Dallas lawfirm Jackson Walker LP will be renting just over 100,000 square feet of space in a new office tower going up in downtown Dallas.

Jackson Walker will join accounting firm KPMG and UMB Bank as lead tenants in the 18-story, 500,000-square-foot high-rise that is being built by Hall Financial Group. Hall – a Frisco-based real estate and investment firm – will also move its headquarters to the project.

Work has already begun on the tower, which will be called KPMG Plaza.

“We actually started construction this past Monday,” developer Craig Hall said Wednesday at an event kicking off the development. “We expect to complete the first building by March 31 of 2015.

“We will have some tenants moving in very shortly after that.”

KPMG Plaza is the first phase of the 3-building Hall Arts complex at Ross Avenue and Leonard Street.

A 30-story condo tower and another large office high-rise are also planned.

“Ultimately there will be around three quarters of a billion dollars of construction when we are done,” Hall said.

The next tower in Hall Financial’s development is already in the works, and will likely contain a combination of condominiums and hotel rooms.

“We are talking to some hotel partners that would own and operate the building – that’s what we are after,” Hall said. “If we find the right hotel partner that’s what we are doing.”

Hall has been working on the project since 1995 when he bought the strategically located downtown development site for $10.5 million.

Since then the developer has considered multiple plans for the property.

“We designed a lot of buildings,” Hall said. “I always wanted to start and get going. But you need a market, you need money, you need tenants.”

With the just signed leased with Jackson Walker, the building is now more than 60 percent leased, “which is something we didn’t expect,” he said.

Jackson Walker – which recently celebrated its 125th anniversary – is moving from the Bank of America Plaza on Main Street where it has had its office since 1985.

“It represents an investment in the future for our lawfirm,” said David Moran, managing partner. “In choosing a new address for the first time in 30 years for Jackson Walker, we looked at a lot of choices.

“From the start we’ve been committed to Dallas and the central business district.”

Jackson Walker negotiated its new office lease with the help of CBRE Group’s Jeff Ellerman, Phil Puckett and Michelle Donaldson. Kim Butler with Hall Financial represented the developer.

Jackson Walker has about 260 employees in its downtown office which will move to the Arts District in the Fall of 2015. Design firm Gensler has been hired to do the company’s new offices.

The entire Hall Arts project is being planned by Dallas architect HKS. Turner Construction is the general contractor.

Weitzman Group is renting the more than 20,000 square feet of retail space on the lower two floors of the project.

[DFW]

Here is another rendering with all three, the tallest in the background is the third phase which is about a 50-story tower.



http://realestate.dmagazine.com/2013/09/...arts-stephan-pyles-hall-financial-group/

[JoninATX]

Another lot bites the Dust...

[Dallas Snob]

The sad part of this is, that other than the developer, the tenants are just vacating space in other DT office buildings. It doesnt make any mark on reducing existing space that would push demand for other DT projects. CBD has had a difficult time of luring businesses to relocate or open offices there. It has had marginal success at best. This could be because Uptown is so smoking hot right now as the premiere address, but certainly not the only reason. It is painful to see Houston have so much DT construction of these 50+ highrises when we get 18. Spire will never get off the ground at this rate, as well as a handful of other projects. Isnt there a city department that is supposed to be marketing to outside companies?

Originally Posted by JoninATX

Another lot bites the Dust...

[TTU Arch]

Originally Posted by Dallas Snob

The sad part of this is, that other than the developer, the tenants are just vacating space in other DT office buildings. It doesnt make any mark on reducing existing space that would push demand for other DT projects. CBD has had a difficult time of luring businesses to relocate or open offices there. It has had marginal success at best. This could be because Uptown is so smoking hot right now as the premiere address, but certainly not the only reason. It is painful to see Houston have so much DT construction of these 50+ highrises when we get 18. Spire will never get off the ground at this rate, as well as a handful of other projects. Isnt there a city department that is supposed to be marketing to outside companies?

When one company moves out another is moving in. A couple recent big moves downtown have been HKS and Jacobs is coming soon. Those are big office tenants that downtown has struggled with in the past to score.

I agree uptown is hot, but I disagree with the marginal success of downtown. Look around day and night and its quite the opposite of the statements above. Don't know why its painful to see Houston build 50 story towers. Dallas developers concentrate more on building neighborhoods, and well built neighborhood will attract much more people, activity and development than a tower. Those tall towers will come again to Dallas. Hall is proposing one already.

Will Spire get off the ground soon? Who knows? Hall has been around longer and has stronger network connections. IMO the Lonestar site getting off the ground will help / add to the Arts district better than Spire at this point. Its a complicated business deal b/w the city / developer, in the heart of the Arts district, and has been a long time coming. Spire is also competing against Billingsly as well in the same area. Like Hall she has a long standing positive reputation.

[Dallas Snob]

HKS is only moving five blocks or so from their uptown office on McKinney. Hardly what I could consider a "win" for downtown.

I live downtown and have for 8 years and am actively involved. And while there is development going on for residential and hotels, the retail and commercial space is stagnant, with the one exception of Jule. There are many empty office buildings, some very large, that have been on the market for years now, with no action. We still have not reached that 50,000 resident threshold that is so important to retail.

I'm not trying to be negative, as i see the changes first hand. I am just saying CBD does not seem to have the charm. And all data supports that. And yes, there are MANY proposals out there for DT. But very few have seen light of day. It's slow moving. I think infrastructure has a ways to go still as well as DT defining itself as a destination with lakes or a large water area. I LOVE living downtown and am excited about all the people moving here as residents. The Klyde Warren has been a HUGE success along with the Arts District. Things are trending in the right direction!

But please, let's be realistic and not try to overtsate or understate development.

Originally Posted by TTU Arch

When one company moves out another is moving in. A couple recent big moves downtown have been HKS and Jacobs is coming soon. Those are big office tenants that downtown has struggled with in the past to score.

I agree uptown is hot, but I disagree with the marginal success of downtown. Look around day and night and its quite the opposite of the statements above. Don't know why its painful to see Houston build 50 story towers. Dallas developers concentrate more on building neighborhoods, and well built neighborhood will attract much more people, activity and development than a tower. Those tall towers will come again to Dallas. Hall is proposing one already.

Will Spire get off the ground soon? Who knows? Hall has been around longer and has stronger network connections. IMO the Lonestar site getting off the ground will help / add to the Arts district better than Spire at this point. Its a complicated business deal b/w the city / developer, in the heart of the Arts district, and has been a long time coming. Spire is also competing against Billingsly as well in the same area. Like Hall she has a long standing positive reputation.

[TTU Arch]

I don't overstate or understate. I would definitely take the move of HKS to downtown as a win for downtown. Where does the 50,000 figure come from for downtown to be sustainable? The figure has been 10,000 for years in accordance with the ULI studies. Dream figures by the city have been 20K or what you suggest to be 50K. I work downtown and I'm involved in the developing community. Your message comes across negative, and does not recognize the efforts put forth to date. There have been substantial gains over recent years. Those empty buildings have been coming off the market, not at lighting speed as you may wish, but the majority of the ones remaining are asbestos filled and require large amounts of remedial work before moving forward. Which is an investment most developers don't see a return on which results in complicated financial deals. The fact that new development is in downtown more than one project at a time (as was the case ten years ago), retail has grown on Commerce, Elm, and Main (not just around the Joule), and firms are seriously looking down here speaks more positive than you would suggest.

[Dallas Snob]

I am sorry if I came across negative. Not intended.

Originally Posted by TTU Arch

I don't overstate or understate. I would definitely take the move of HKS to downtown as a win for downtown. Where does the 50,000 figure come from for downtown to be sustainable? The figure has been 10,000 for years in accordance with the ULI studies. Dream figures by the city have been 20K or what you suggest to be 50K. I work downtown and I'm involved in the developing community. Your message comes across negative, and does not recognize the efforts put forth to date. There have been substantial gains over recent years. Those empty buildings have been coming off the market, not at lighting speed as you may wish, but the majority of the ones remaining are asbestos filled and require large amounts of remedial work before moving forward. Which is an investment most developers don't see a return on which results in complicated financial deals. The fact that new development is in downtown more than one project at a time (as was the case ten years ago), retail has grown on Commerce, Elm, and Main (not just around the Joule), and firms are seriously looking down here speaks more positive than you would suggest.

[TTU Arch]

Developer KDC plans new Uptown Dallas office tower
http://bizbeatblog.dallasnews.com/2013/09/developer-kdc-plans-new-uptown-dallas-office-tower.html/


By Steve Brown
[email protected]
1:47 pm on September 23, 2013 | Permalink

"Developer KDC plans to build the tower on the vacant corner of McKinney and Harwood.....

...KDC in information supplied to the Dallas plan commission plans to build an office tower and parking building that would be between 10 and 20 stories at the vacant corner of McKinney Avenue and Harwood Street.

...The property planned for the building is one of the last vacant tracts along McKinney Avenue."

[eburress]

Originally Posted by TTU Arch

Developer KDC plans new Uptown Dallas office tower
http://bizbeatblog.dallasnews.com/2013/09/developer-kdc-plans-new-uptown-dallas-office-tower.html/


By Steve Brown
[email protected]
1:47 pm on September 23, 2013 | Permalink

"Developer KDC plans to build the tower on the vacant corner of McKinney and Harwood.....

...KDC in information supplied to the Dallas plan commission plans to build an office tower and parking building that would be between 10 and 20 stories at the vacant corner of McKinney Avenue and Harwood Street.

...The property planned for the building is one of the last vacant tracts along McKinney Avenue."

I'm really excited about this project and how it will tie that neighborhood together. I hope it gets off the ground!

[Sic'EmBears]

CityLights finally got off the ground after 10 years! Digging begins next month.

http://www.dallasnews.com/business/comme...y-lights-project-to-start-next-month.ece

[TowerSpotter]

Not a bad design.

[R1070]

Originally Posted by Sic'EmBears

CityLights finally got off the ground after 10 years! Digging begins next month.

http://www.dallasnews.com/business/comme...y-lights-project-to-start-next-month.ece

Way better than the suburban shopping center that was planned on this site back in the day!

[Thymant]

This is great news! I thought it would never happen.

[Owlhorn]

suburban? That rendering IS the old rendering. It was going to be the West Village on steroids with a few hundred thousand sq ft of ground floor retail with multiple high rise towers. Now it sounds like it will be a typical figure 8 new urbanist apt complex.