Downtown Dallas Office Vacancy Reaches New Height (Houston, Arlington: lease, how much)

[EasilyAmused]

So they rehab all these buildings for residental...then the people commute out to the burbs to work, because there's not enough inhabited office space DT for them to work at???.... It could happen for the under 30 set. But if they they over build residental, then you have some major problems on your hands 20 years from now.

[blkgiraffe]

Originally Posted by Dallascaper

Stagnant based on what? Certainly not based on development.

Lets not be in denial here. We all can see Dallas downtown district has been struggling for some time now and instead of the city actually focusing on it's vacancy rates and the other issues; it was plopping up office parks and new towers in Uptown and all over the metro area.

There was no type of demand for this large construction boom and the city is now suffering from it.

[Metro Matt]

Originally Posted by jluke65780

Lets not be in denial here. We all can see Dallas downtown district has been struggling for some time now and instead of the city actually focusing on it's vacancy rates and the other issues; it was plopping up office parks and new towers in Uptown and all over the metro area.

There was no type of demand for this large construction boom and the city is now suffering from it.

Dallas, Dubai, & Miami could all learn something from each other it seems. Never build based on speculation alone as the market could collapse any time, which is exactly what happened & now they're having to pay for it...or not pay for it at all in the case with Dubai.

A smart city is one that has been there, done that & learned from its past mistakes, a dumb city is one that re-lives those mistakes again.

[Dallas native]

Originally Posted by Metro Matt

Stagnant based on low street level activity & no real connection with downtown proper to speak of. That whole area might as well been built as just another high rise office park out in the suburbs somewhere the way its connected to downtown right now. Does DART have any future plans on addressing this or will there be any sort of feasible pedestrian friendly infrastructure implemented into the districts design to better connect with surrounding neighborhoods? Inquiring minds would like to know...

The Woodall Rodgers deck/park that is currently under construction will integrate Uptown with Downtown where the Art's District is located: The Park

[Metro Matt]

Originally Posted by Dallas native

The Woodall Rodgers deck/park that is currently under construction will integrate Uptown with Downtown where the Art's District is located: The Park

Oh really? So they have started construction on it already? How far along into the project are they & when is it slated to open? While this is a nice thing to hear it still doesn't answer my question on how the Arts District itself will connect with downtown proper ie: Main Street, West End, Deep Ellum, etc. which is where the bulk of said residential development could occur in vacated high rise office buildings.

As Easilyamused previously put it, are these people living in downtown going to reverse commute to the burbs & back for work or what? This certainly will be a new urban phenomenon, if or when it happens.

[Dallas native]

Originally Posted by jluke65780

Lets not be in denial here. We all can see Dallas downtown district has been struggling for some time now and instead of the city actually focusing on it's vacancy rates and the other issues; it was plopping up office parks and new towers in Uptown and all over the metro area.

There was no type of demand for this large construction boom and the city is now suffering from it.

The city of Dallas is not the entity that built Uptown and "all over the metro area". Developers did that because there was a demand for it. Evidence of that is exhibited in the higher occupancy levels for office space in Uptown. That obviously had an effect on Downtown occupancy rates. I can count on one hand the number of new construction office and residential buildings that have been built in Downtown Dallas since the 1980's when there really was too much speculative new construction. There has been NO boom in new construction Downtown since that decade.

What the city of Dallas has done is encourage the re-purposing of many derelict office buildings built mostly from the 1920's - 1950's that tenants left in favor of younger Downtown buildings or new buildings in Uptown. The way they have done this is through tax incentives to developers. Without that, those many buildings would still just be sitting there empty. Are there more buildings Downtown that need to be re-purposed? YES. Elm Place will be the largest of them once it closes later this month. But, the likelihood that Elm Place and other buildings will at some point be converted to residential or hotel once the economy improves is much greater because the city of Dallas did have the foresight to provide those tax incentives to encourage re-development. There are thousands of people living Downtown now which indicates a proven viability for such endeavors that would not exist had the city of Dallas not focused on the vacancy problem.

The goal is to make Downtown Dallas bustling once again so that it will be an appealing place for people to live, work and play AND as a way to attract corporate relocations. With the expansion of the Arts District, new Downtown parks, new restaurants, new residential options and the hub for DART rail I think Downtown is definitely on the ascent. It's far better than it was in the 1990's.

[Dallas native]

Originally Posted by Metro Matt

Oh really? So they have started construction on it already? How far along into the project are they & when is it slated to open? While this is a nice thing to hear it still doesn't answer my question on how the Arts District itself will connect with downtown proper ie: Main Street, West End, Deep Ellum, etc. which is where the bulk of said residential development could occur in vacated high rise office buildings.

As Easilyamused previously put it, are these people living in downtown going to reverse commute to the burbs & back for work or what? This certainly will be a new urban phenomenon, if or when it happens.

Construction began last Fall on the deck and it is supposed to be complete in 2012. One way to connect all of the various districts in Downtown proper is to install a trolley system and that is currently under consideration at City Hall as well as at DART and MATA. This article articulates the idea very well: Transit agencies consider a clattering comeback for downtown Dallas trolleys | News for Dallas, Texas | Dallas Morning News | Latest News (http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/061608dnmetdowntowntrolleys.9ccb784.html - broken link). As for where the Downtown residents will work, who says they will have to work in the suburbs? Many of them already work in Downtown, Uptown or points nearby. With the continued expansion of DART rail and the consequential surrounding development, it's conceivable that they would ride the train to work in more distant locations (as some already do). If Downtown continues to build on its momentum, then it will be easier to attract more corporate relocations and the jobs that come with them.

[Dallascaper]

Thanks for the info, Dallas native. Maybe if people would actually click the links they would learn something, but learning is not why some folks post here.

[Dallas native]

Originally Posted by Dallascaper

Thanks for the info, Dallas native. Maybe if people would actually click the links they would learn something, but learning is not why some folks post here.

Yes, I've always noticed that.

[TXTwizter]

Originally Posted by Metro Matt

A smart city is one that has been there, done that & learned from its past mistakes, a dumb city is one that re-lives those mistakes again.

You would think Dallas would have learned from the real estate crash of the 80s about over building.......Guess not!