Dallas core developments thread (Houston, Bishop: square footage, live, restaurants)

[Dallaz]

Originally Posted by LocalPlanner

Dude, you are 25 years behind. The move-outs started in the 1990s. That's why so many legacy towers converted from office to residential or hotel. Dallas has literally been the national leader in conversions of post-1950 office towers.

Legacy 1980s towers all over TX, but especially in Dallas and Houston where so many were built (both inside and outside CBDs) are having a pretty rough time for the most part.

I know that, but back to back big office tenants leaving wasn’t happening until recently. The DMN just did an article about it. Dallas office buildings were hit hard because of the 80s crash, leaving entire skyscrapers vacant. I remember the old Mercantile National Bank complex being abandoned in the early 2000s.

Downtown Dallas vs. Uptown: Bank of America move adds to across-the-highway migration

Bank of America’s pending move to Uptown is part of a familiar trend that’s attracting some of the biggest business tenants in downtown’s old financial district to new buildings north of the deck park that aimed to unify the city.

Older downtown buildings south of Ross Avenue have seen a steady stream of tenants headed to Uptown or buildings near Dallas’ Arts District.

“The robust performance of the Uptown Dallas market undeniably highlights its strength and validates the trend toward high-quality, walkable spaces over the last three years,” said Jihane Boury, vice chairman in the Dallas office of international real estate firm Savills. ”Many of our clients are relocating from their previous premises to secure fresh, appealing spaces that can attract and retain top talent and motivate employees to return to the office.”

The bank’s departure from Main Street will leave a big vacancy in the 72-story Bank of America Plaza, which is currently about 70% leased. The bank is one of the largest private-sector employers downtown.

Downtown Dallas office buildings in the financial district have an overall vacancy of close to 37%, while only about 7.5% of offices near the Arts District are empty, according to estimates by Transwestern.

[Acntx]

Originally Posted by Dallaz

The Dallas forum needs something similar to what's in the Houston forum. Instead of making multiple threads, it would be better to concentrate them all in one thread. If anyone has any projects that they know of, please share them here. I know I can't do this by myself and any projects that are related to the urban core of Dallas are welcome. The core is within Loop 12 and anything outside of that area will not apply.

*Can the mods please merge these threads into this one*

Cityplace Tower to be redeveloped with a Hotel and Apartments by 2025

Knox/Henderson new developments (Knox St side)

I may initially post back to back posts to find all the core development projects I know of. Just a heads up....

Moderator Note: Those threads have been merged into this one.

[LocalPlanner]

Originally Posted by Dallaz

I know that, but back to back big office tenants leaving wasn’t happening until recently. The DMN just did an article about it. Dallas office buildings were hit hard because of the 80s crash, leaving entire skyscrapers vacant. I remember the old Mercantile National Bank complex being abandoned in the early 2000s.

Downtown Dallas vs. Uptown: Bank of America move adds to across-the-highway migration

It may seem a little, I don't know, ironic, but I think that the conversions of the legacy buildings, which add more residents and hotel guests in Downtown and thus support a more mixed-use environment, will ultimately be one ingredient to help Downtown start attracting office tenants back south of the Woodall Rogers in the long run. It will be in new buildings, of course.

[dallasboi]

Originally Posted by Dallaz

Thanks for your contribution, Dallasboi.

I’m kinda conflicted with this one…

The tallest building in Dallas is losing its lead tenant. Yea, we’re getting a new building in Uptown, but it seems like downtown needs a boost or something.

Downtown Dallas is losing out it seems like. Chase, Goldman Sachs, and now BOA have all moved or plan to move from the 80s legacy downtown skyscrapers into newer Uptown/Uptown adjacent high-rises. I'm not trying to sound like an alarmist, I just don't want Downtown to get setback. There has been a good amount progress and that shouldn't go unnoticed, but big office relocations out of Downtown doesn't sound good to me. Especially, when restaurants and businesses depend on those office workers too.

But that's just protocol....All of the tall 80s buildings are gonna play second up to NEW development. They're keeping them upgraded and repurposed with partials like Hotels and Apartments so the new tenants would feel better about their less expensive decision....No worries...,IT'LL STAY LEASED.(with the B classes).

[dallasboi]

...Meanwhile

New downtown Dallas skyscraper planned for prime site by Swiss developers
https://www.dallasnews.com/business/...office%20space.

A Switzerland-based developer has purchased a prominent downtown Dallas building site with plans for a high-rise apartment project.

Empira Group acquired the more-than-one-acre site on Pearl Street across from the Plaza of the Americas. The property is near downtown’s Arts District and across the street from a DART commuter rail stop.

The new owner plans to build a 375-unit residential tower with 37 floors. The building will include 7,300 square feet of ground-floor restaurant space and a 2,500-square-foot outdoor plaza overlooking a small park.

The tower will be Empira’s first North Texas development. Dallas-Fort Worth led the country in commercial real estate investment in 2022, topping all other major U.S. metros for commercial property deals for the third year in a row. More than $42.5 billion in commercial properties were sold in D-FW last year, according to the latest estimate from MSCI Inc.

“Dallas has been on our radar for several years as the city has rapidly transformed into a national powerhouse, attracting new residents, professional talent and businesses,” Empira chairman Lahcen Knapp said in a statement. “Our state-of-the-art development will provide new housing options to individuals and families who want to live within walking distance of the Dallas Arts District, shops, restaurants, parks and their workplace.”

[ParaguaneroSwag]

Originally Posted by LocalPlanner

It may seem a little, I don't know, ironic, but I think that the conversions of the legacy buildings, which add more residents and hotel guests in Downtown and thus support a more mixed-use environment, will ultimately be one ingredient to help Downtown start attracting office tenants back south of the Woodall Rogers in the long run. It will be in new buildings, of course.

I believe that eventually (years down the line), office leases will go back to older established buildings

[dallasboi]

Originally Posted by dallasboi

...Meanwhile

New downtown Dallas skyscraper planned for prime site by Swiss developers
https://www.dallasnews.com/business/...office%20space.

At first I thought 7,300 sq ft is not that much space....


Then I did the math and that's enough space to house 22 restaurants with 7 being large at 400 sq ft and 15 being 300 sq ft each!!!..(I'm pretty sure a bar might be included)......This IS gonna be a STATE OF THE ART development...In the center of Downtown!!!




Its all the way UP!!!!!..........from this point forward!!!

[oil capital]

Originally Posted by dallasboi

At first I thought 7,300 sq ft is not that much space....


Then I did the math and that's enough space to house 22 restaurants with 7 being large at 400 sq ft and 15 being 300 sq ft each!!!..(I'm pretty sure a bar might be included)......This IS gonna be a STATE OF THE ART development...In the center of Downtown!!!




Its all the way UP!!!!!..........from this point forward!!!

ROFL Just when I thought you'd reached the peak of cluelessness . . . In brief, you need to redo your math. For a point of reference, Jaxon, one of the restaurants that has closed in Discovery District, was 10,000 square feet. 300 square feet is smaller than my bedroom.

[dallasboi]

Yellow=Planning Stage
Blue=Announced
Green= Under Construction
Purple= Newly Renovated or repurposed
Pink= Recently Completed
Red=Currently existing NEW but not recently completed

Click the link to get details on each plot. Im posting snap shots to show the depth of progress.
https://downtowndallas.com/business/...ment-projects/

[dallasboi]

Originally Posted by oil capital

ROFL Just when I thought you'd reached the peak of cluelessness . . . In brief, you need to redo your math. For a point of reference, Jaxon, one of the restaurants that has closed in Discovery District, was 10,000 square feet. 300 square feet is smaller than my bedroom.

Go to any Food-Court in any of the buildings in the Tunnels in Houston and they look like this: