Dallas core developments thread (Center, Bishop: 2014, rent, luxury)

[Dallaz]

Originally Posted by rabbit33

So THAT's what they're building by the Athena!

Actual Dallasites will know what "behind the pink wall" means!

I don't get the "5 stories or so", though. Drove past there the other day and it looks like 15 or 20.

And those renderings are such BS! Yeah, right, we've got two giant condo towers (the third one is just conveniently removed altogether) on a tree-lined boulevard with nothing around but trees. What BS!

I was talking until it tops out. But yes, you’re right, they like to play up renderings for some reason. Knowing damn well NW Hwy isn’t a boulevard lol . The pink wall looks like it’s on lifesupport these days. I’ve wonder will they demolished it or try to repair it…?

[Dallaz]

A monster boom is taking shape in Dallas’ Uptown and Turtle Creek areas
Twenty major real estate developments are underway or proposed near Dallas’ Uptown and Turtle Creek areas.

The area north of downtown Dallas that includes Uptown, Victory Park and Turtle Creek is seeing an unprecedented building boom.

More than $2 billion in buildings are on the way in almost two dozen major projects. Some of the largest developments include major employment centers for Goldman Sachs and Bank of America.

At the same time, developers are working on high-rise residential buildings for both renters and buyers.

19 high-rise projects listed in the article (some with multiple buildings) and one mid-rise apartment project with retail.

Current pic of 23Springs and 2811 Maple going up in Uptown


Source: Dallas Morning News

Hanover Turtle Creek U/C - 1 of 2 towers planned


Source: Dallas Morning News

Also — The webcam for Parkside Uptown (New Bank of America Tower) that’s U/C in Uptown

https://app.oxblue.com/cameras/5dc4d...=kdc/parkside3

Good recent aerial view of the urban core. It’s gonna look much different when everything is completed, north of downtown.

https://www.reddit.com/r/Dallas/s/Bf2O5zghTB

BTW

The Dallas Gateway project is still happening. It’s suppose to have 3 towers with the tallest being 50 stories. High interest rates slowed it down

Here’s a recent podcast about the project from Dec 2023. It gives further details and project updates

[Dallaz]

689 ft Residential Tower on the way in Dallas? I’m gonna pause my excitement to make sure it’s actually true. But here’s the article

Hines eyes $150M apartment tower in Dallas’ Victory Park
Project to bring 497 units to area near Goldman Sachs office campus

After architecture firm Munoz + Albin jumped the gun unveiling Hines’ plan for an apartment tower in Victory Park, the Houston heavyweight is ready to make its mark on the neighborhood.

An affiliate of Hines filed plans to build a 497-unit building and an eight-level parking garage, at 2371 Victory Avenue, the Dallas Business Journal reported. The Dallas City Plan Commission is scheduled to approve the 28-story project as part of its consent agenda Thursday.

The development was previously reported as having 23 stories, but the plan commission request is for 28 floors.

The site, along Stemmons Freeway, just south of the American Airlines Center, is a surface parking lot. The planned apartment building would rise 689 feet and span over 128,000 square feet.

Also……..

35-story residential tower to rise along Dallas’ Pearl Street
A Swiss firm will get underway with a residential high rise between Dallas’ central business district and the Arts District later this year.

Swiss investment management firm Empira Group plans to move ahead with a residential high-rise near Plaza of the Americas in downtown Dallas.

The firm’s plans include 370 market-rate apartments with studio and one-, two-, and three-bedroom layouts and balconies. The 35-story high-rise will also have eight penthouses with panoramic views of the city.

For amenities, the tower’s ninth floor will include a pool, fitness center, co-working area, makers studio and resident’s lounge.

The property will feature 8,660 square feet of ground-floor retail space, along with 515 parking spaces across a seven-level parking garage.

Empira plans to begin construction later this year on the more-than-one-acre site at 711 N. Pearl St., nestled between Dallas’ central business district and the Dallas Arts District. It is across the street from a DART rail stop.

The firm expects the apartment tower to be completed in 2026. It unveiled new renderings of the project this week.

Source: Dallas Morning News

[Dallaz]

Originally Posted by Dallaz

689 ft Residential Tower on the way in Dallas? I’m gonna pause my excitement to make sure it’s actually true. But here’s the article

Hines eyes $150M apartment tower in Dallas’ Victory Park
Project to bring 497 units to area near Goldman Sachs office campus

Found the site plan. It says the building height is 689 ft. It probably is the height plus elevation or perhaps it has a spire?? Maybe it’s a typo that someone made?

https://cityofdallas.legistar.com/Vi...7-12B2DBFFE093

I guess we’ll find out tomorrow at the CPC meeting

[EDS_]

Dallaz, thanks for the updates!

[Dallaz]

Originally Posted by EDS_

Dallaz, thanks for the updates!

No problem

Originally Posted by Dallaz

689 ft Residential Tower on the way in Dallas? I’m gonna pause my excitement to make sure it’s actually true. But here’s the article

Hines eyes $150M apartment tower in Dallas’ Victory Park
Project to bring 497 units to area near Goldman Sachs office campus

According to the CPC meeting, it was suppose to be 28 stories but was lowered to 23 stories because of the budget. No mention of the height…so, I’m just gonna assume that 689 ft is definitely a mistake as well.

[oil capital]

Originally Posted by Dallaz

No problem



According to the CPC meeting, it was suppose to be 28 stories but was lowered to 23 stories because of the budget. No mention of the height…so, I’m just gonna assume that 689 ft is definitely a mistake as well.

689 feet total elevation lines up well with a 23-story building.That makes the most sense. Did they say anything about the number of units planned? 497 units in a 23-story building seems like a lot.

[rabbit33]

Originally Posted by oil capital

689 feet total elevation lines up well with a 23-story building.That makes the most sense. Did they say anything about the number of units planned? 497 units in a 23-story building seems like a lot.

Umm, 689 feet on a 23 story building is almost 30 feet per story!

I'd bet the actual number would be more like 280 feet.

[oil capital]

Originally Posted by rabbit33

Umm, 689 feet on a 23 story building is almost 30 feet per story!

I'd bet the actual number would be more like 280 feet.

689 feet total elevation, including the height of the property above sea level. The elevation in that area is a little over 400 feet, I believe, so, yes, the building being around 280 feet sense.

[TeamLynn]

I'll be surprised if all this gets built in the timeframe pitched in this lending environment, but most of those owners seem to be big power players with deep pockets so if leverage goes from 80% to 50% they can probably still get it done. People like Dell probably just looking for asset preservation vs profits, although profits are nice.

I just wonder who rents all that space. Construction costs aren't cheap and there seems to be some of the newer high rise multifamily struggling. So if some of that 15-25% equity gets wiped out in the next year or two, that gives the new buyer a significant cost advantage with perhaps 2019/2020 or before construction costs.

If you're wanting to rent in the area maybe we'll start to see those 2-3 month free rent specials coming back.
I'm not in that area often, but traffic has always sucked there and add another 5000 residents, and 5000 office staff and traffic is going to be super crazy. Nothing can really be widened I don't think.