DALLAS FORT WORTH | Urban + Suburban P & C

[futuresooner]

This is the side of downtown that still sorely needs to be redeveloped and give the Chase Tower some neighbors. This will likely spur more development as large plots of vacant land and/or parking lots in the core are harder and harder to find.

[llamaorama]

For sure. I've always wondered what would happen to the wedge of land where the DART tracks used to be before the Green Line was built and they were realigned to connect to the wye under the freeway.

There's just a lot of asphalt and nothingness.

[eburress]

Originally Posted by futuresooner

This is the side of downtown that still sorely needs to be redeveloped and give the Chase Tower some neighbors. This will likely spur more development as large plots of vacant land and/or parking lots in the core are harder and harder to find.

Definitely agree, now that Spire has given up on their development and is selling off chunks of the land they were sitting on.

[jkill34]

Originally Posted by eburress

For the folks who can't access DM.com, here's some fun eye candy for a new development on Ross Ave, which is on a portion of what might have been the Spire development. The office portion is so so but I like the residential.



The article on DMN: https://www.dallasnews.com/business/real...-developer-plans-downtown-dallas-towers/

Are these final renderings, or just something to spark some capital? Dallas desperately needs more residential downtown.

[Dallaz]

I don’t think an update on this project has been posted. This is the new Four Seasons on Turtle Creek. The building is going to be 454 ft.

First look: $750 million Four Seasons project will stand tall on Turtle Creek

https://www.dallasnews.com/business/real...and-tall-on-turtle-creek/?outputType=amp

Award-winning architectural firm Pelli Clarke Pelli and Dallas’ HKS are designing the more than 30-story mixed-use tower.

Plans for the high-rise include an eye-popping circular glass entry court off Turtle Creek Boulevard.

“It will be one of the most spectacular, Instagramable places anywhere in the world,” said architect Fred Clarke.

The hotel rooms would occupy eight lower floors of the tower above a ballroom and lobby space. The residential units would be above the hotel.

And parking for the building would be in an underground garage.

Renderings : https://drive.google.com/file/d/1gWKKZhBf-fkFvWNetSNXrPn21LxDqfAs/view

[Dallaz]

Originally Posted by N90

So are they no longer doing the 80 story tower anymore?


https://i.imgur.com/k6Xypnr.jpg

I believe they are. Goldman Sachs is rumored to relocate to the project for its 2nd HQ.

Here’s the story in the DMN

Is Goldman Sachs targeting a big new development near downtown Dallas?

https://www.dallasnews.com/business/real...ent-near-downtown-dallas/?outputType=amp

Rumors have circulated for more than a year that Goldman plans to consolidate a large number of workers in a new office in the Dallas-Fort Worth area. The Manhattan-based company already has almost 2,000 employees working in buildings in downtown Dallas and Richardson.

Now Goldman is zeroing in on Hunt Realty Investments’ planned Field Street mixed-use development on the northwest side of downtown as a location for up to 6,000 workers, according to several sources familiar with the deal who didn’t want to be identified because the information remains private.

[eburress]

Originally Posted by Dallaz

I don’t think an update on this project has been posted. This is the new Four Seasons on Turtle Creek. The building is going to be 454 ft.

First look: $750 million Four Seasons project will stand tall on Turtle Creek

https://www.dallasnews.com/business/real...and-tall-on-turtle-creek/?outputType=amp



Renderings : https://drive.google.com/file/d/1gWKKZhBf-fkFvWNetSNXrPn21LxDqfAs/view

Thanks for sharing. I hadn't previously seen the PDF with the renderings, so how exciting to see what this is actually going to look like!

[Dallaz]

Major development is in the works for downtown Dallas’ landmark El Fenix property

https://www.dallasnews.com/business/real...ntown-dallas-landmark-el-fenix-property/

The two-block property at Woodall Rodgers Freeway and Field Street includes the building that houses Dallas’ beloved El Fenix restaurant.

But most of the site is just used for parking.

Texas real estate firm Stonelake Capital Partners is working a plan to develop the property along with its longtime owner, Mike Karns, who heads the restaurant company that owns El Major development is in the works for downtown Dallas’ landmark El Fenix property



The El Fenix and Meso Maya restaurants on the northeast side of the property would remain, and office and residential towers would be built on the vacant tracts.

The article also mentions the Northend Apts project across the street on Field St.

The almost 4-acre development site is across the street from the high-rise Union office, residential and retail buildings.

And just to the west, Hunt Realty Investments is expected to start construction this year on the first phase of a 11-acre skyscraper project that would replace the North End apartment community.

New York-based financial giant Goldman Sachs is said to be looking to put a huge new office in the Hunt Realty project with thousands of workers.

[The ATX]

Do we know how tall is the 80ish story potential Goldman Sachs HQ2 will be? Will it be a new tallest for Dallas?

[R1070]

Originally Posted by The ATX

Do we know how tall is the 80ish story potential Goldman Sachs HQ2 will be? Will it be a new tallest for Dallas?

I don't think that building will be the initial one built for Goldman Sachs. Most likely one of the other glass office towers in the rendering. It will most likely be one of the tallest when built, but the current tallest is a 72 floor office tower not a mixed use building which mixed use tends to be different floor heights and can make the overall height shorter due to parking, hotel and/or residential floor heights.

[Zapatan]

Originally Posted by The ATX

Do we know how tall is the 80ish story potential Goldman Sachs HQ2 will be? Will it be a new tallest for Dallas?

Assuming you're referring to the one in the rendering I think there's already a thread for that building

890 feet and 83 floors I believe. Not a new tallest for some reason but very close


EDIT: Found it

https://skyscraperpage.com/forum/showthread.php?t=247983

[llamaorama]

I'll say it again, I'll believe when I see it.

[Zapatan]

Originally Posted by llamaorama

I'll say it again, I'll believe when I see it.

The Field Street Development? Why? A city like Dallas could totally pull that off, it's one of the fastest growing in the country.

[llamaorama]

Very severe office vacancies in the downtown area including in the trophy skyscrapers, and then the fact that downtown Dallas is cool but it's not like Seattle or Denver or Austin or even Nashville cool.

I would rather see a ton of midrises and old office to residential conversions and then over time Downtown Dallas will have it's moment like downtown LA did. Once fundamentals are met like it being a truly vibrant neighborhood.

[Dallaz]

Originally Posted by llamaorama

Very severe office vacancies in the downtown area including in the trophy skyscrapers, and then the fact that downtown Dallas is cool but it's not like Seattle or Denver or Austin or even Nashville cool.

I would rather see a ton of midrises and old office to residential conversions and then over time Downtown Dallas will have it's moment like downtown LA did. Once fundamentals are met like it being a truly vibrant neighborhood.

Many of Downtown’s old office buildings are functionally obsolete. They’ve just announced that they are converting Energy Plaza into a residential building. There’s demand for new office space…especially, in Uptown/Victory Park. Companies in DFW would rather have modern office space than older office space from the 70s and 80s.

[llamaorama]

But what makes them functionally obsolete? Why can't they be renovated? I think that's a weak answer. Larger spaces? As if that made sense, do workers really love open plan offices and shared desks that much? I know I don't. From my perspective doing IT stuff for a living, you'd think the tech needs would actually be going in a simpler direction. As long as you have good wifi coverage and fast internet, you don't need as much space-consuming hardware or server or network cabinets. Conference rooms are far less complex now. Fewer copiers and supply closets.

All together, I'd think the changes would be mostly "subtractive". Just gut floors and refresh the interiors, right? Why is it so complex?

Plus, best case that means a lot of architecturally significant and recognizable components of the skyline will become vacant and torn down, a waste of materials and pollution in the atmosphere, to build more office that's more of a luxury than a necessity for many kinds of businesses now.w

No thanks.

[Dallaz]

Originally Posted by llamaorama

But what makes them functionally obsolete? Why can't they be renovated? I think that's a weak answer. Larger spaces? As if that made sense, do workers really love open plan offices and shared desks that much? I know I don't. From my perspective doing IT stuff for a living, you'd think the tech needs would actually be going in a simpler direction. As long as you have good wifi coverage and fast internet, you don't need as much space-consuming hardware or server or network cabinets. Conference rooms are far less complex now. Fewer copiers and supply closets.

All together, I'd think the changes would be mostly "subtractive". Just gut floors and refresh the interiors, right? Why is it so complex?

Plus, best case that means a lot of architecturally significant and recognizable components of the skyline will become vacant and torn down, a waste of materials and pollution in the atmosphere, to build more office that's more of a luxury than a necessity for many kinds of businesses now.w

No thanks.

Office floor plans have changed and many buildings have inadequate parking ratios. These buildings weren’t going to be prime office space forever. The buildings wouldn’t be demolished…they simply would be repurposed. The Merc, the Sheraton Hotel, Gables Republic Tower, and The National were all at some point Dallas’ tallest building. They’ve all been converted to residential/hotel space. Most companies wouldn’t consider moving into offices that old. Especially, with all the new stuff being built around The Metroplex. A few skyscrapers like Trammell Crow Center, Thanksgiving Tower, Ross Tower, etc were updated in the last few years. But they’re still nothing like a modern office building. Why would someone gut an old office building just to bring it up to date, when they can build a new one (maybe) cheaper? I know it’ll probably cost well over $100 million just for a full gut renovation. Just to renovate Fountian Place, they spent $70 million. That wasn’t even a full gut reno, it was more of an update/refresh. Newer office buildings (even though much smaller) built in Downtown generally don’t have a problem with vacancies. 1900 Pearl and KPMG Plaza come to mind off top.

[JMKeynes]

Originally Posted by The ATX

Do we know how tall is the 80ish story potential Goldman Sachs HQ2 will be? Will it be a new tallest for Dallas?

This isn't going to be an HQ2. Goldman will employ lower level people who make less than $250k per year to save costs. No offense, but top Goldman people would never leave NY, which is infinitely better than Dallas in every respect.

I like Dallas. It, along with Houston, is probably the best Sunbelt city. However, it doesn't remotely hold a candle to NYC in any way, shape, or form.

That being said, Dallas has an amazing track record at attracting companies, and I hope that GS builds a nice tower downtown and not a campus in Plano.

[Dallaz]

Originally Posted by Dallaz

Office floor plans have changed and many buildings have inadequate parking ratios. These buildings weren’t going to be prime office space forever. The buildings wouldn’t be demolished…they simply would be repurposed. The Merc, the Sheraton Hotel, Gables Republic Tower, and The National were all at some point Dallas’ tallest building. They’ve all been converted to residential/hotel space. Most companies wouldn’t consider moving into offices that old. Especially, with all the new stuff being built around The Metroplex. A few skyscrapers like Trammell Crow Center, Thanksgiving Tower, Ross Tower, etc were updated in the last few years. But they’re still nothing like a modern office building. Why would someone gut an old office building just to bring it up to date, when they can build a new one (maybe) cheaper? I know it’ll probably cost well over $100 million just for a full gut renovation. Just to renovate Fountian Place, they spent $70 million. That wasn’t even a full gut reno, it was more of an update/refresh. Newer office buildings (even though much smaller) built in Downtown generally don’t have a problem with vacancies. 1900 Pearl and KPMG Plaza come to mind off top.

In a previous post, I said Energy Plaza is being converted to residential. Now other older office buildings are being partially converted aswell. This was just posted by the DMN.


Downtown Dallas developments will convert offices to apartments and add new towers

https://www.dallasnews.com/business/real...ffices-to-apartments-and-add-new-towers/

Experts from the article

Woods’ firm is buying the 40-story Bryan Tower, which is only about a third occupied by office tenants.

“Our plans at Bryan Tower include converting roughly half the building to luxury apartments,” Woods said. “We are going to spend between the common area improvements and the conversion of the upper floors well over $150 million upgrading that building.

Built in 1973, the high-rise at 2001 Bryan was one of the first modern reflective glass high-rises constructed in Dallas. Lenders foreclosed on the tower last year.

Woods’ firm has already bought the adjoining parking lots and is acquiring the garage. Those areas will be developed for additional parking and tenant amenities, including restaurant space.

The developers are also planning a redo of the 50-story former Thanksgiving Tower — now Santander Tower — at 1601 Elm St. The owners also plan to convert multiple floors of that 1.4 million-square-foot skyscraper into housing.

“We took the top two floors of Santander Tower and converted it to a hotel,” Woods said. “It proved those floors can be converted in ways that will work.”

Work on the two skyscrapers is set to begin later this year to create 550 rental units.

Also this year, Woods and his partners including Kaizen Development hope to start work on the first phase of their $1 billion Field Street District mixed-use project on the north side of downtown.

The group purchased the 6-acre property at Woodall Rodgers Freeway and Field Street in 2019. The site is zoned for up to 5 million square feet of construction.

“The first phase will be two large towers and a big food and beverage component,” Woods said. “The office tower will have a half million to 700,000 square feet, and the residential tower will be 300 units,” Woods said. “The first two buildings would be along the northern side of the property.”

Pacific Elm Properties, which also controls office space in the AT&T Tower, 2100 Ross and in the One Dallas Centre high-rise on Bryan Street, is also looking just north of downtown for more construction.

Woods said the developer is working on both office and apartment high-rise projects in the Knox Street district on McKinney Avenue.

“We are going to move as aggressively as possible to begin these buildings,” he said. “Obviously, Dallas has benefited greatly from the net migration to Texas from other markets, and I don’t see that slowing down any time soon.

[R1070]

Looking forward to Field Street getting started!