Goldman Sachs moving to Dallas? (Houston, Austin: 2015, to live in, professionals)

[Mr. Clutch]

Originally Posted by ParaguaneroSwag

It doesn’t have official restrictions, but every proposed super tall must be submitted to the FAA for approval. Historically, they haven’t been friendly in Dallas due to Love Field and to a lesser extent, they haven’t been friendly in Houston either due to Hobby.

This is the reason many speculate that Austin will have Texas’ tallest tower at some point.

Looking at that proposed site, its hard for me to see how the FAA would allow a supertall there. It's a little further west relative to the Runway 31L approach path (a good thing) compared with most of the taller buildings in Downtown/Uptown Dallas, but also a little further north and closer to Love Field than any of the downtown skyscrapers (a bad thing).

Any new supertall in Dallas would have to be as far south and west as possible for it to work imo. The Field Street site is not the best place to plop a thousand foot tall tower - it may be far enough west for the FAA to call it good, but I seriously doubt it. There is no active application on file with the FAA's obstruction evaluation as of yet for this project, so its still very speculative. When it happens, we'll see how many feet the developers are proposing and what the FAA eventually approves.

[ParaguaneroSwag]

Originally Posted by EDS_

KPF, Hunt and who ever the local engineer/architect of record is (HKS maybe) don't screw-around. They'd know if the FAA was going to block these buildings.


I hope DMN's scoop does not screw-up this deal it's been in the works for a long time.



FWIIW KPF designed the Dallas Federal Reserve Bank.

They’ve been turned down many times before. Not just in Dallas. In Houston and even Austin too.

[EDS_]

Originally Posted by ParaguaneroSwag

They’ve been turned down many times before. Not just in Dallas. In Houston and even Austin too.

Who is, "they"?

[SanJac]

Originally Posted by atadytic19

That would be awesome. 80 stories would make it the tallest building in Texas

Anything can happen, but in the original design for this building it would be the 2nd tallest building in Dallas in terms of height, even with 80 stories.

[ParaguaneroSwag]

Originally Posted by EDS_

Who is, "they"?

Various developers including Hunt. This isn’t uncommon anywhere.

[EDS_]

Originally Posted by ParaguaneroSwag

Various developers including Hunt. This isn’t uncommon anywhere.

OK you are speaking generally.

[Mr. Clutch]

Originally Posted by EDS_

OK you are speaking generally.

Rejections and height reductions happen all the time, not just for new construction, but also for proposed additions (antennas, spires, etc.) to existing buildings. I have personally seen them happen many times as I used to work closely with the FAA OE team in a previous role. The OE team doesn't do any pre-evaluation of potential sites - they only make a determination when they get a 7460 form from the project sponsor. Until there are actually some concrete plans for the building site that get fed to the FAA on a 7460, nothing happens. They use very detailed software to make these determinations in a matter of a couple of months, so if a 1,000 foot tower is possible, it will be approved and if its potentially detrimental to safety at the airport it will be cut down to a safe height.

[TeamLynn]

GS Sachs and many of their subsidiary companies already in Dallas for years and growing. CEO said it is a myth that all financial talent is in NYC. NYC may stay #1 for them, but likely Dallas a close #2 and HDQ #3 in London. SLC also is big for them. Already they have more than 1600 employees here in the DFW area.

[ParaguaneroSwag]

Originally Posted by TeamLynn

GS Sachs and many of their subsidiary companies already in Dallas for years and growing. CEO said it is a myth that all financial talent is in NYC. NYC may stay #1 for them, but likely Dallas a close #2 and HDQ #3 in London. SLC also is big for them. Already they have more than 1600 employees here in the DFW area.

Surprisingly, Salt Lake City has GS 2nd largest presence in the USA. Dallas has the third.

[numbersguy100]

Originally Posted by ParaguaneroSwag

Surprisingly, Salt Lake City has GS 2nd largest presence in the USA. Dallas has the third.

GS still has big plans for Dallas for middle office and back office employees. These are objectively well-paid people but they aren’t going to be moving to Preston Hollow or Park Cities (in general). Goldman is targeting more of its executives and rainmakers for its West Palm office.

But it’s no surprise that every expansion/relocation has one thing in common - very low tax/regulation jurisdictions. I already know tons of family offices, hedge funds, and private equity funds moving to Austin and Florida. If Goldman successfully hollows out a large portion of its NYC offices, NYC is going to be in an even bigger fiscal crisis than it is already facing. I am not sure how it replaces that lost tax income.