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slfunk

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About slfunk

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  • Birthday 01/25/1957

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  1. Will agree to disagree. Your analysis is based on a snap shot of what office space is currently vacant and does not include all the projects in development / proposed / underway / stength of the market that the private community uses to determine if a project if viable to move forward. The latter is what I base my anaylsis on as well as the development community. To my point, 3 sample cases - 1700 Pacific still shows as available office on a number of reports, but is fully re-opened now as a Hilton Garden Hotel with residents above. BOFA tower in downtown Dallas has seen big uptick in leasing where the bar graphs a couple years ago showed it mostly vacant due to some tenants moving out but today it shows mostly leased after finishing an upgrade. Thanksgiving tower - Its bar graph shows mostly vacant right now but doesn't reflect what is going on with the project. Its undergoing an overhaul and just had a big tenant move in from California last year in the lower floors with the upper floors currently vacant while they are upgraded in preps for the ongoing negotiations of new leases that are in the works but not reflected on current surveys. DFW absorbed 2.3 million SF of office space in 2014 and 5 million by end of 2015. As of mid 2015, DFW had about 100,000 new jobs in a 12 month period from mid 2014 to mid 2015. Here are a couple articles talking not only about the momentum but also some proposed projects that are not signing on new tenants or vacating tenants in preps for some level of conversion (hotel/office, office to hotel, office to residential, office/residential...etc.). April 2015 https://www.bisnow.com/dallas-ft-worth/news/office/top-10-reasons-downtown-dallas-will-succeed-44475 Report of Dallas leading the country in dropping vacant office rates in 2013 http://bizbeatblog.dallasnews.com/2013/09/dallas-area-tops-the-country-in-office-vacancy-declines.html/?nclick_check=1 2014 article - Why Investors are flocking to DTD http://www.dmagazine.com/publications/d-ceo/2014/september/why-investors-are-flocking-to-downtown-dallas Specific to DTD an article from 2014. By third quarter of 2014 1.75 million square feet had been absorbed and absorption continued through 2015 while rental rates rose. http://www.dallasnews.com/business/commercial-real-estate/20140928-downtown-dallas-tops-area-office-leasing-so-far-in-2014.ece Snapshot of 2015 http://bizbeatblog.dallasnews.com/tag/dallas-office-market/
  2. Interesting people's takes. I agree the buildings are good looking and were designed by a Houston based firm. They have designed similar type projects in a very similar vernacular style that are under construction currently along I-10. Wish people posting on these forums would keep in mind design is subjective..... and stop knocking DFW so much in these sub forums as a round about way to elevate Houston.... Good things are happening in both cities and negative discussions / predictions are not productive.
  3. Sorry your right 1401. And yes I did mean 50%. No worries if you don't agree..... You're one of the chronic negative posters when it comes to anything DFW.
  4. Not sure if it is.... I do know if there was a real house wives of Houston, the PR machine would turned up on this forum as well. According to my sister-in-law there was big buzz among her friends there in Houston of a possible show when Bravo was looking at a Houston as possible location.
  5. Great video! I'm taken when looking at snap shots like this. Many of the projects in the video are approaching substantial completion while new ones are well underway. Dallas city proper alone had 6 billion dollars worth of new development started in 2015. That does not include the 5 billion mile up the burbs. Houston even with the down turn in energy continued to put up strong numbers as well as San Antonio and Austin. I'd like to see the before and after for all metros in 2020 when compared to 2012. It should be pretty impressive.
  6. ^Wow! Much different impression then I had last October when I was there for a movie. I would not go back except to see a movie and to be frank its sketchy at best. The parking lots are dark dark dark at night. Some parking areas are not lit anymore and the mall......... to each there own :0) Sears nearest locations are at Collin Creek, Town East and Richardson Sq Mall. That location works well for them and I'm sure they will stay for as long as they can. That is what JCP did until they opened their store on NW Highway.
  7. Vacancy has been dropping in downtown Dallas and this has been documented. Not all buildings that are vacant can be repurposed for what the original design was due to market changes. Many of them that have been idle in the past, have been converted to residential / hotel and / or require complex financing due to the corrective work needed to bring an older vacant building up to current codes. Take the in-limbo 501 Elm project for example. Its an aggressive project and it project alone accounts for about 50% of the 'vacant' office space and will continue to be recorded as such until the someone moves forward with it (which sounds like they are getting closer to inking the deal). There are only a handful of vacant buildings left to be redeveloped or are being redeveloped. Also, the parking lots you have stated, a number of them (not all) of projects slated on them for this development cycle. Some of the trophy tower owners recognize they need to build more convenient parking options to lure / keep tenants. Leases are being signed and/or renewed with these new projects. Fountain Place, Bank of America tower, Trammel Crow Center and others all have parking garages in the works for downtown. One is attached to a new hotel / residential / office development and includes parking for an adjacent trophy tower. All the new towers going up in uptown and suburbs have easy parking solutions.
  8. The center is marked for demolition. The developer is looking at a staging plan, I'm sure as most due. You have an AMC there, and I think that is just about the only thing that still brings in people to that area for nighttime other than the adjacent mall (Galleria). FYI - This area around the Galleria has seen a bit of a shift from the hot bed of activity in the 80's / 90's. Developers / companies have been concentrating on areas to develop where the young talent is. These two areas or concentrated in the uptown/downtown area and Frisco / Plano's 5 billion dollar mile where Toyota, Liberty Mutual, Raytheon, Fed ex, etc. are building big new campuses along with private developers expanding multifamily, hotels and retail offers. This is not to say these are the only big development areas in the metro, but these are the top 2. The activity up at 121 and the tollway is pretty insane. They are basically building an area similar to Dallas's uptown all at once at this intersection. In regards to Midtown.... Developers are seeing an area that has more less been in holding pattern for sometime since all the investment previously and now those developers see that the center of the metro's population is somewhere around 635 / 75 or 635/tollway. The housing in this area is of an older stock mostly with some spots of newer apartments. They are working to change this, and the speed of gaining interest affects the financing..... Ironic that Galleria area and Addison where red hot in development in the late 90's (mostly Addison along the Tollway / Beltline). Bottom line - Its an ambitious project and one I hope to continue to develop. The Galleria area has needed a makeover for a while now to stay competitive with other submarkets.
  9. Very unfortunate news. Wish these articles would be banned from these forums as it bares no relevance to the discussion but an unfortunate tragedy.....
  10. The first one was an extension of Woodall Rogers freeway and becomes a local road on the West side of the Trinity. It provides better access to West Dallas and has spawned new development in an area called Trinity Grooves. The second bridge (the second of three originally proposed) is part of redeveloping I-30 and I-35 (the horseshoe project). The third signature bridge will not be built. The naysayers will say one if not both are pointless in lieu of your standard Txdot bridge. In the end, we have a large number of people that are now discovering / rediscovering the Trinity River thanks to not only the bridge but what the city / voters are pushing for and building. The bridges are part of the overall park design, and do create a nice walking / biking environment. They've done architectural lighting below the first bridge that creates really cool space. Also, the old bridge the first one replaced has become an elevated park and has already hosted a number of events.
  11. Its called the Rolex building because its being built for Rolex's new office. Current one is located across the street in an older building.
  12. Just take their comments with a load of salt. Just like another posted earlier, those guys you are referencing are still out there and making statements with no merit. Their predictions have not transpired and those same predictors just go against anything good happening in Dallas. I wish they were just joking, but usually you only joke about something once or twice. You'll figure out who the repeat offenders are and you'll notice the moderators do not reign them in. For that reason, I come on here only once in a while. I put their comments in the same category as a poster on the Dallas forum who campaigned hard that a certain project next to his condo tower (in uptown) would and could never be built. But today the building is starting to open including a new steak house at its base.
  13. houstonmidtown.com Should check it out. There's some great stuff going on in Midtown Houston. Back to the subject at hand.... this thread is about new Dallas development
  14. Dallas does have zoning, planning districts and review boards (depending on the area). You'll find a bevy of items listed in there pertaining to setbacks, floor to area ratios, glazing, permitted uses, building materials, landscaping....etc. All these items have community input before the zoning is approved by the city. In some cases like the Victory, Oak Lawn, or historical overlay areas there are review boards to maintain those standards and allow for public input. In Houston you'll have deed restrictions (River Oaks area) and city ordinances but no zoning currently. Midtown area of Houston does have a review board.
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