Downtown dallas development news

A bond-fueled revival in Dallas is hitting its stride with the restoration of a landmark hotel, a former bank tower, an abandoned main library and the building that once served as city hall. Using bonds and tax-increment financing over the past two decades, the city leveraged incentives and bond proceeds to redevelop or remove 42 vacant buildings, converting office towers to condos and clearing space for acres of parks.

By the end ofthe city expects that the last of those vacant buildings, the First National Bank tower on Elm Street, will be put to use as residential, hotel and office space.

Downtown Dallas Tom Thumb Grand Opening This Friday

The Deep Ellum section on the eastern edge of downtown won a prized tenant on Aug. The additional taxes to be gained include both sales taxes from employees and new residents, as well as non-abated property taxes from Uber.

To make downtown viable, city officials recognized that they needed to make the former business center work as residential space with amenities such as shopping and entertainment with a de-emphasis on automobile traffic. For downtown Dallas residents, safety is a key issue in 10cric review city that is suffering an exodus of retiring police officers and a struggle to recruit new ones.

Those buildings border the Main Street Garden Park that replaced a block of shabby retail structures. On the north side of the park is the former Titche-Goettinger department store that has served several universities as classroom space since The landmark Municipal Building, where alleged presidential assassin Lee Harvey Oswald was jailed and murdered by Jack Ruby inanchors the east side of the park, with the mid-century modern Statler on the south side.

Citywide, Dallas has 18 TIFs. Built in as a flagship for the Statler Hilton chain, the hotel had been closed since The National Trust for Historic Preservation included the Statler Hilton on its list of most endangered places, citing its importance in American mid-century design.

The original deal, issued as tax-exempt debt, was later ruled taxable by the Internal Revenue Service The upcoming bonds, issued by the Public Finance Authority of Wisconsin, will include reimbursement for the developer. To issue bonds for redevelopment, the city created the Downtown Dallas Development Authority in August Data Workstation.

Regional News. September 23,a. Richard Williamson. For reprint and licensing requests for this article, click here. Coronavirus forces Georgia Power to cut workforce on new reactors. By Shelly Sigo. Port Authority details toll, fare and fee losses from coronavirus. By Andrew Coen. Bond legislation.Image: JMJ Development. The conceptual renderings indicate a step-up structure with the residential units rising 10 stories, and a hotel component rising about 19 stories, both resting above a multilevel parking structure.

This plot includes a vacant lot at the southeast corner of North Riverfront Boulevard and Pittsburg Street. The warehouse building south of the vacant lot is comprised of two lease spaces. A warehouse built in the s occupies most of the site JMJ Development wants for its project.

Image: Google Street View. There is also a rental space at Pittsburg Street. Investors have bet big on the central business district and other nearby urban areas such as Uptown, Deep Ellum and the Cedars. There is no light rail access, no trendy streetscapes, and no grocery store. There are no public schools and there are no parks, unless you consider the Trinity River banks with its Levee Trail a park, but is it really? The apartment properties in yellow were built years ago.

Those in red were recently completed, in construction or at the planning stage. American Centurion did acquire the long vacant Cabana Hotel last year with plans to restore and expand the property for a future hotel and residential community. But that site is right at the juncture of the Stemmons and Woodall Rogers freeway interchange, making it much more connected to Victory Park than it is to the Design District.

Trammell Crow Residential also took a chance and started building a five-story luxury apartment residence in at Turtle Creek and East Levee Street. The location made some sense. JMJ, however, has set its sights on a property seven blocks south of Apex Design District, in the heart of the old district. The Design District, at its core, is a sea of old one-story brick or concrete block industrial buildings that became an island refuge for artisans, antique dealers, art gallery curators, interior designers, architects, artsy food caterers, decor wholesalers and furniture shops, to name only a few of its eclectic tenants.

Concept rendering of an upper story pool deck for the Pittsburg project. Truth is, much of the district is just empty space. It is amid all this jumble of small businesses, drab masonry and vacant property that JMJ chose to plant a seemingly high-end hotel and residential tower. Granted, the upper floors will have the scenic views of a downtown skyline and it will overlook the Trinity River into West Dallas, so it makes some sense — still, i f one assumes its future tenants would like hip places to visit within walking distance, there are few signs of civilization at this point.

That being said, the Texas Ale Project opened a brewery and tap room in just around the corner from Pittsburg Street, at North Riverfront Boulevard.

downtown dallas development news

Aerial perspective of the southeast edge of the Pittsburg project. The east property line shares a boundary with an abandoned railroad right of way easement. The company also plans a story downtown apartment tower along the San Antonio River Walk, and last month purchased a 2,acre ranch west of Fort Worth for a master-planned community. On top of all that, JMJ also has projects in Frisco and out of state — so for now, the groundbreaking date on Pittsburg remains an open question.

Email: adolfo towers. Schedule a showing. Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email. Lot Size. Leave a Reply Cancel reply Your email address will not be published. Search Search this website.A surface parking lot at Corbin Street will soon be the only centrally-located green space in the West End Historic District. The newest park in the city of Dallas will undergo a virtual groundbreaking Monday, complete with a video tour.

The West End Square, which is currently a parking lot surrounded by Market, North Record and Corbin streets, will be a centrally-located green space in about year. What is currently a surface parking lot will soon be the only centrally-located green space in the West End Historic District.

Both parks are part of a development agreement between Parks for Downtown Dallas and the city to develop a greener downtown sector based on the Downtown Parks Master Plan Update. Parks for Downtown Dallas has announced the beginning of construction on a park in the West End. Of the scourges that plague downtown Dallas, the prevalence of surface parking lots may be the worst: deadening and ugly, they make pedestrian life an unpleasant grind.

Count it, then, as a major victory, if not some kind of civic miracle, that the city has replaced one of these dismal spaces with a park. Meadows, has been promoted to chief executive officer, effective immediately. Pave paradise and put up a parking lot? No so fast, how about tearing up the parking lot and planting grass.

And Trees. And playgrounds and sculpture and other cool stuff. Dallas has an amazing new green space, and it had a week-long grand opening. Check it out: Pacific Plaza, N. Willis Winters, Dallas Park and Recreation Department director, has an office cluttered in mementos from ribbon cuttings.

The city of Dallas is ready to unveil a downtown park that has been a decade-and-a-half in the making. On October 14, the fences come down around Pacific Plaza, a 3. A shiny new park is opening soon in downtown Dallas. Dallas has an Uptown, a downtown and a West End. Now developers are rebranding a historic neighborhood on the east side of the central business district as the East Quarter.

The name change is part of a redevelopment plan for more than two dozen historic buildings and construction sites near Deep Ellum along Cesar Chavez Boulevard and Commerce and Jackson streets.DALLAS—Mayor Eric Johnson recently presented the state of downtown address and there were specific applications to the commercial real estate industry included in the speech, including the to fiscal budget which is set to reduce property tax rates.

Johnson said he was proud of the growth in downtown Dallas, including additional retail stores, restaurants and museums that are attracting more people and businesses to the area. He added that he would like to see downtown become more walkable and livable, a place where people not only work but also reside. Register Now. Sign In Now. Lisa Brown is an editor for the south and west regions of GlobeSt.

She has written extensively on commercial real estate topics and edited numerous pieces on the subject. More from this author.

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Lisa Brown April 15, Senior living communities are increasingly moving away from a care-first mindset and toward a wellness lifestyle with options for care available, which may be fully incorporated by Kelsi Maree Borland April 14, Lisa Brown April 16, These four pillars of success will help you leverage the strength of the CRE market in ; while navigating unexpected industry challenges to thrive and separate yourself from the competition.

All Rights Reserved. Menu Search. Sign In. Thought Leaders. Thank you for sharing! Your article was successfully shared with the contacts you provided. Andrew Gross says with greater demand than supply, Dallas asset pricing is surging.

Want to continue reading? Lisa Brown. Recommended Stories. As Seniors Live Longer, Wellness Routines are Evolving Lisa Brown April 15, Senior living communities are increasingly moving away from a care-first mindset and toward a wellness lifestyle with options for care available, which may be fully incorporated by Downtown Dallas plan served as the guiding document for Downtown since The Plan is a joint effort of Downtown DallasCity of Dallas, private interests and the community.

An update to the plan adopted in is underway. The D2 Project will increase system capacity, provide operational flexibility and serve new markets. It is a critical element of sustaining the DART system into the future by adding core capacity to the network. Urban Transit Design Guidelines. The Dallas CityMAP process is an open and inclusive assessment of the challenges, opportunities, and potential solutions for the aging interstate corridors and adjacent neighborhoods.

Texas Department of Transportation project. Texas Central is planning to design, construct and operate a private high-speed passenger rail line between Dallas-Fort Worth Metroplex Area and Houston Metropolitan Area. Turn on more accessible mode. Turn off more accessible mode.

downtown dallas development news

Page Content. Neighborhood Plus is a citywide neighborhood revitalization plan for the City of Dallas. At the center of the plan are six strategic goals: Collective Impact, Alleviating poverty, Fighting blight, Attracting and Retaining the middle class, Increasing home ownership and Enhancing rental options. The Complete Streets is intended to improve the way the City of Dallas designs and builds streets.By Steve Brown.

Developers redoing blocks of old buildings on downtown Dallas' far east side are upping their game with new construction. A year ago, Todd Interests started work on its East Quarter redevelopment — turning aging commercial buildings along Commerce, Main and Cesar Chavez into creative office spaces. Now the Dallas-based developer is filling a vacant block between the historic buildings it's renovating with a new high-rise retail, office and apartment project.

Todd Interests partnered with investors advised by J.

downtown dallas development news

Morgan Asset Management last year to buy more than a dozen buildings dating from the s and '30s on the eastern edge of downtown. The new owners started work immediately to convert the properties to office and retail space. Tech firms including OrderMyGear and Dialexa have rented offices in the revamped properties. The new building will havesquare feet of offices on four floors. Merriman Anderson Architects. About 25, square feet of retail space will be in the lower levels of the project, which wraps around the year-old Meletio Electric building.

Todd Interests' Stephanie Herold said there will be apartments in the upper levels of the building, with an eighth-floor deck with swimming pool and outdoor areas for the tenants. Merriman Anderson Architects designed the East Quarter high-rise project, and Andres Construction will be the general contractor. Work is scheduled to begin on the tower later this year, with the project to open starting in But with construction of new projects in Deep Ellum and now in the East Quarter, that corner of downtown is getting a lot more attention.

The first tenants have already moved into the East Quarter's redone buildings. Todd said the largest of the old properties, a five-story brick building constructed in on Main Street, will reopen at the end of the month.

Dallas sees a corner turned on bond-fueled downtown revival

The pie-shaped former Magnolia Oil building across the street at Commerce and Cesar Chavez is being converted into restaurants with a rooftop bar, which will be ready late this year. The new East Quarter tower is the latest downtown development for Todd Interests, which has a track record of restoring landmark buildings.

The planned East Quarter tower will be Todd Interests' first such new-construction job.By Steve Brown. Developers in Dallas' Uptown district have gotten their second wind and are kicking off a new round of construction. More than a dozen major projects are in the works in Uptown and the surrounding area -- everything from office towers to high-rise apartments, hotels and retail space.

Uptown is already Dallas' most pricey property market, with soaring apartment and office rents. The next wave of construction promises to raise the bar for both the size and cost of projects in the works for the area just north of downtown Dallas. Steve BrownReal Estate Editor. Steve covers commercial and residential real estate in Dallas-Fort Worth. By signing up you agree to our privacy policy. Stand with us in our mission to discover and uncover the story of North Texas.

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