200 people show up for Museum Tower groundbreaking in Dallas Arts District
11:48 AM CDT on Thursday, June 24, 2010
By STEVE BROWN / The Dallas Morning News
http://www.dallasnews.com/sharedcontent/dws/bus/stories/062510dnbusMuseum.d4ba980f.html
Building groundbreakings are few and far between these days.
So maybe that’s why more than 200 people turned out on a hot summer morning to watch construction kick off on the Museum Tower condo project in downtown’s Arts District.
The 42-story building is the tallest building started in Dallas since work began on the Cityplace Tower in the mid-1980s.
And getting the $200 million Museum Tower under way at Pearl Street and Woodall Rodgers Freeway has taken more than a decade.
“To say the least, this is a momentous occasion for us after 12 years of work,” Museum Tower partner John Sughrue told the crowd Thursday morning. “People are asking us 'Why start now?'
“The answer is easy – look around you.”
The luxury residential high-rise is across the street from the Meyerson Symphony Center and will overlook the Nasher Sculpture Center and the new Woodall Rodgers Park.
“Rewind a couple of decades and think that this whole area was a used car lot,” said Dallas Mayor Tom Leppert. “I believe there is going to be a lot of commercial development in this area, and business will move here.”
The 122 condos planned in the oval glass tower will start at more than $1 million each, and the skyscraper will take more than two years build.
“This will be one of the great addresses in the U.S.” said Museum Tower partner Dan Boeckman.
It’s also one of the few skyscrapers going up in the country because of the recession and credit crunch, which has cut off funds for most building.
“This tower is one of the first in the U.S. to turn the corner in the economic slowdown,” said project architect Scott Johnson.
Museum Tower is being paid for by the Dallas Police and Fire Pension System, which will own the building and plans to profit from the condo sales.