DOWNTOWN BIG"6"..What direction are they going??? (Houston: oil, health)

[Dallaz]

Downtown Dallas tower redos will replace acres of empty offices with apartments

https://www.dallasnews.com/business/...th-apartments/

Planned changes for some of downtown’s landmark buildings will bring thousands of new residents and sharply reduce the supply of office space in the financial district.

“It’s taking significant empty office inventory off the market and bringing life to downtown,” said Gary Carr, vice chairman with commercial property firm Newmark Group. “That’s a great thing for the city.”

Downtown has been plagued by an oversupply of office space for decades.

“I absolutely think the conversion of some of these 1980s towers to residential could be one of the best things that has happened to our central business district,” said Phil Puckett, vice chairman of CBRE Group. “If all of these conversions take place, this could reduce our total office space square footage by approximately 3.7 million square feet.”

…close to 2,500 new residential units.

[LocalPlanner]

Originally Posted by Dallaz

Downtown Dallas tower redos will replace acres of empty offices with apartments

https://www.dallasnews.com/business/...th-apartments/

I don't have access to the DMN, but your quote indicates that the adaptive reuse would occur in 1980s-era buildings, which would be a shift from the older office properties that had been the main locations of the previous conversions. That's notable.

I can only hope that a similar trend happens in Houston, where our 1970s-80s era office buildings (even ones that had been traditionally classified as "Class A") are having difficulties with occupancy, both in Downtown and in other major office districts.

[Dallaz]

Originally Posted by LocalPlanner

I don't have access to the DMN, but your quote indicates that the adaptive reuse would occur in 1980s-era buildings, which would be a shift from the older office properties that had been the main locations of the previous conversions. That's notable.

I can only hope that a similar trend happens in Houston, where our 1970s-80s era office buildings (even ones that had been traditionally classified as "Class A") are having difficulties with occupancy, both in Downtown and in other major office districts.

I’m glad there has been more of a focus on repurposing older buildings not just historic ones. The amount of obsolete office space is the biggest thing hurting downtown right now IMO even with all the new projects.

Bryan Tower and Renaissance Tower are from the 70s.
Santander Tower (Thanksgiving Tower) and Energy Plaza are from the 80s.


Screenshot from the DMN



That projected doubling of Downtown’s population in 5 years looks a lot more believable.

[SanJac]

Originally Posted by LocalPlanner

I don't have access to the DMN, but your quote indicates that the adaptive reuse would occur in 1980s-era buildings, which would be a shift from the older office properties that had been the main locations of the previous conversions. That's notable.

I can only hope that a similar trend happens in Houston, where our 1970s-80s era office buildings (even ones that had been traditionally classified as "Class A") are having difficulties with occupancy, both in Downtown and in other major office districts.

This makes sense. Dallas has the worst post-pandemic downtown office occupancy rate of all the Texas cities. Austin actually leads the nation in office workers returning to the office and Houston is 2nd. There was an article just yesterday in the WSJ about this.

https://www.wsj.com/articles/office-...ing_now_news_3



Every city is going to have to re-think what they do with all this excess office space as it is becoming obvious that employees are NOT going back to the office every day (if at all).

Read the WSJ article... not a ringing endorsement for mass transit either...

[malcorub16]

Originally Posted by SanJac

This makes sense. Dallas has the worst post-pandemic downtown office occupancy rate of all the Texas cities. Austin actually leads the nation in office workers returning to the office and Houston is 2nd. There was an article just yesterday in the WSJ about this.

https://www.wsj.com/articles/office-...ing_now_news_3



Every city is going to have to re-think what they do with all this excess office space as it is becoming obvious that employees are NOT going back to the office every day (if at all).

Read the WSJ article... not a ringing endorsement for mass transit either...

Even with companies demanding return to the office, many employees are simply quitting to avoid returning. The current price of gasoline encourages resignations even more so.

[oil capital]

Originally Posted by LocalPlanner

I don't have access to the DMN, but your quote indicates that the adaptive reuse would occur in 1980s-era buildings, which would be a shift from the older office properties that had been the main locations of the previous conversions. That's notable.

I can only hope that a similar trend happens in Houston, where our 1970s-80s era office buildings (even ones that had been traditionally classified as "Class A") are having difficulties with occupancy, both in Downtown and in other major office districts.

Good news: 1801 Smith in downtown Houston (a 20-story, early 70's-vintage office building) is currently being converted to 372 apartments.

[kennyc05]

Originally Posted by Dallaz

Another high-rise project is about to break ground across from Uptown by Central Exwy and Haskell Avenue. I’m confident about the residential portion but IDK about the office. Don’t know if he’s waiting for a tenant or going to build spec office space. If it all gets built, I’ll be nice to finally have highrises around Cityplace Tower. It wouldn’t look all by itself.


https://m.youtube.com/watch?v=FmWabD...ature=youtu.be

Nice Dallas!

[oil capital]

Originally Posted by Dallaz

Another high-rise project is about to break ground across from Uptown by Central Exwy and Haskell Avenue. I’m confident about the residential portion but IDK about the office. Don’t know if he’s waiting for a tenant or going to build spec office space. If it all gets built, I’ll be nice to finally have highrises around Cityplace Tower. It wouldn’t look all by itself.


https://m.youtube.com/watch?v=FmWabD...ature=youtu.be

Cool vision. It will be interesting to watch it devlop. So far:

Built and open: Jefferson Innova apartments (5-story Teas donut apartment building - 430 apartments).

Announced to start construction next month: Streetlights 20-story apartment building with 350 apartments.

[dallasboi]

Originally Posted by Dallaz

Another high-rise project is about to break ground across from Uptown by Central Exwy and Haskell Avenue. I’m confident about the residential portion but IDK about the office. Don’t know if he’s waiting for a tenant or going to build spec office space. If it all gets built, I’ll be nice to finally have highrises around Cityplace Tower. It wouldn’t look all by itself.


https://m.youtube.com/watch?v=FmWabD...ature=youtu.be

This is going to be Great.....I can admit that I do like the previous developer's plan a little more because it had a more height.

But this development will be just as good and the central park will be an awesome focal point.....This, along With Goldman Sachs development solidifies the standard for Dallas going forward with new developments.

They both have nice-sized central parks as the focal point.

Nature SELLS.

The Midtown District will have the KING of central parks with Sky-Transit(Hopefully). If Dallas sticks to this concept and makes park integration a requirement...We will drastically enhance the Aesthetics and the QOL in our Urban districts.....

IMO....That's what Dallas needs to focus on the most right now.

[LocalPlanner]

Originally Posted by oil capital

Good news: 1801 Smith in downtown Houston (a 20-story, early 70's-vintage office building) is currently being converted to 372 apartments.

That's very good news, do you have a link to an article? I hadn't seen any media on this.

There is an empty 1980s-era office building in the Westlake complex in the Energy Corridor in Houston that is supposedly being converted also.