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Townhouse project on the way south of downtown Dallas

Steve Brown
March 3, 2016
 
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Sphinx Development Corp. is building the 49-unit townhome project at Compton Street and Fry Way near Clarendon Drive, east of Interstate 35E.

 

The planned townhomes will start at under $170,000 for units starting around 1,400 square feet.

Construction of the first phase is underway with the first units ready this summer.

 

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Bankruptcy court approves downtown Dallas skyscraper’s pending sale

Steve Brown
March 3, 2016
 
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A Dallas bankruptcy court has OK’d the pending sale of a troubled downtown skyscraper.

 

California-based Drever Capital Management has offered to pay $65 million for the landmark First National Bank tower at 1401 Elm St.

The sale to Drever could happen as early as the end of this month or could be delayed as late as the end of May, according to court documents.

 
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Turkish Mike, a new member on Dallasmetropolis, has published information on Turkish developer Mike Sarimsakci's major downtown proposals.

 

Regarding the proposed 42-story tower, announced last week:

 

I will be deploying resources to promote the district. Butler Brothers is the first piece of the puzzle. Tower @ SOYO will be a true mix use project. It would be very similar to 211. 211 is 200ft X 50ft, 18 stories office tower. Tower @ SOYO is 300ft X 50 ft, 42 stories mix use project. The idea is to attract more startups, accelarators, co-working concepts, enterprenuers, tech firms to SOYO.

 

Regarding a $1.2B, multi-tower project:

 

Chavez lots behind city hall initially consisted of 4 towers. But it could be 5. The projects is a mix use project. Condos, apartments for rent, offices and 2 hotels would be the mix. I have to wait for the oil to be at $60 to $70 a barrel as I was trying to attract energy related companies. If that does not happen, I have to figure out another approach. Some other developer might have a better idea then it would be theirs.

 

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Good news^

 

Something about 300ft and 42stories seems a bit off though. Those would be short 7 foot ceilings.haha.  42 should  be closer to 560ft like museum tower or cityplace.

 

I think he is talking about width (50 feet) and depth (300 feet) of the 42 story tower, not its height.  As the renderings show the tower will be long, thin and tall, probably at least in the 560 foot height range.

 

I'm very excited for this announcement that is for sure!  This 42 story tower would make a great addition not only to the Dallas skyline itself but to draw new skyscraper development to the City Hall area.  I think the developer is very serious about his proposals and has a great interest in enhancing Downtown Dallas.

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Behind developer Larry Hamilton's toughest adaptive reuse project yet in downtown Dallas

Candace Carlisle
March 4, 2016
 
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Hamilton is roughly a third the way through construction of the redevelopment of the hotel, which is expected to open in January 2017.

 

Since starting construction on the redevelopment six months ago, Hamilton has run into a few issues, such as the need to revise landscape plans to accommodate the hotel pool, or cleaning out sewer lines to ensure they'd work in the long haul.

 

"There have been a lot of things that have happened since we've started construction," said Hamilton, who will ultimately transition the long-time vacant property into a $35 million, 237-room boutique hotel, which will be called the Lorenzo.

Hamilton said he expects the first model hotel room to open in about a month. The hotel will have a similar "hip and cool" feel, like the Aloft hotel in downtown Dallas (which he also redeveloped).

 

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On 2/24/2016 at 10:54 AM, Dallaz said:

 

 

On 2/24/2016 at 1:39 PM, Houston19514 said:

Color me skeptical.  I'd love to see the CBRE report.   Note that Houston currently has more than 3,200 apartments under construction downtown.  It seems highly likely that Houston has well more than 1,400 apartments under construction in the nearby areas surrounding downtown.  (I count more than 1,500 in Midtown alone.)

 

It turns out I was right to be skeptical.  Steve Brown writes a lot of cheerleading puffery, but I am not used to seeing such dishonesty as this.

 

In order to claim that Dallas leads the state, he combined the numbers in the CBRE reports for Downtown Dallas/West End/Deep Ellum (1,904 units) with Uptown/Oak Lawn/Highland Park (2,702 units). 

 

Then he compared that to the number from Houston for just downtown (3,437 units).  An honest comparison would have to include at least the Montrose/Museum/Midtown numbers (3,623 units).  But that would put Houston at 7,060 units... apparently not the answer Steve Brown wanted.

Edited by Houston19514
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Take this with a grain of salt.

Trump Hotels looks for 5-star foothold in Dallas with new luxury hotel

Candace Carlisle

March 7, 2016

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New York City-based Trump Hotel Collection has begun scouring Dallas for new sites to land its trademark five-star branded hotel and residences on the heels of 'a great reception,' seen in the wake of Donald Trump's campaign for president.

"Dallas has really matured over the past five to 10 years and has turned into more of a destination for businesses," Mitch Garrett, vice president of acquisitions and development for the group's Americas division, told the Dallas Business Journal in an exclusive interview.

"The market itself — both on a real estate end and given the great reception with other endeavors going on in the organization — has a good following and the brand resonates well with Dallas," Garrett told me. "We have been waiting for the right opportunity to come up and we are evaluating some options right now."

Garrett said the group would like to bring a luxury, five-star hotel and residence to Dallas based on the success seen with other luxury brands, including the Ritz-Carlton hotel and residences at McKinney Avenue and Pearl Street in Uptown.

"We don't have a location there and the recent developments have really raised the bar on a product and amenity level," he told me. "Trump coming into this market would be a great addition to our portfolio."

In August, Trump Hotel Collection named former Dallasite Eric Danzinger to the luxury hotel group's CEO position, where he will oversee the 14 hotels within the collection's portfolio.

The hotel group is evaluating several locations in the urban core of Dallas and expects to partner with a developer by the end of the year.

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Yeah, baby! Former Braniff flight attendant dorm might become residential building
Steve Brown
March 8, 2016

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Dallas investors who’ve purchased a Mid-century Modern building are pondering what to do with the landmark.

Built in 1968 as a center to train flight attendants for the Dallas airline, the 5-story building has been empty for almost two years.

“We’ve demolished most of the interior – it’s just a shell,” Silverman said. “We were originally going to do office space there, but now we are thinking about a boutique residential building.

“We hope to make up our minds in the next 30 to 60 days.”

Designed by Dallas architect Neal Lacey, the white textured concrete and glass building originally had classrooms on the lower floors and three floors of dormitories for the flight attendants on top.

The building was adorned with Latin American art work, textiles and construction materials.

“As a Mid-century building — which is the way we look at it — there are certain things we are looking to maintain,” he said. “We are history buffs when it comes to architecture and real estate.”

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Elevating the Galleria Towers: New owner will spend $16 million to bring property up to date
Steve Brown
March 9, 2016

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After spending more than $300 million to buy the buildings, investor CBRE Global Investors now will pump another $16 million in upgrades into the towers.

“We are going to remodel and lease this bad boy up,” said Kenzie Kilgore, part of the marketing team that’s charged with putting new energy into the buildings located just north of LBJ Freeway.

“There were some really tired spaces in the buildings,” Brown said. “The size of these towers justifies the amount of money we are spending.”

CBRE Global Investors had several architects give renovation proposals before picking Entos Design to craft the redo.

Brown said the idea isn’t to toss out all of the original stonework and other features.

“We had one designer that just wanted to cover it all over with white,” she said. “That’s not the Galleria.”

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Some of the original dark stone in the lobbies will be replaced with light wood and white marble.

Barnes said the center tower will get the most changes with an 8,500-square-foot fitness center and a large conference facility.

A rundown outdoor plaza on top of one of the parking garages will be refurbished for tenants with awnings and landscaping.

Even after all the improvements are finished later this year, the Galleria Towers plan to offer office space that is priced lower than the newest buildings in Dallas and Plano.

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I-20 property in far southern Dallas sells for mixed-use project
Steve Brown
March 14, 2016

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Centurion American Development Group bought 94 acres to add to the 200 acres it already owns at the northwest corner of Interstate 30 and Lancaster Road.

The property is being planned for a combination of retail, townhouse and apartment projects and will be called University Hills.

“Located southeast of the Dallas campus of the University of North Texas, this project will be a great amenity to the Southern Dallas corridor,” Thurston Witt, the broker with CBRE/UCR who negotiated the sale, said in a statement.

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Dallas has a semi-secret scenic "hill country" on the southside (see nature photos thread) It's only a matter of time till it gets discovered by more developers.

Trash aside, you can see the topographic variation in that photo and that's just the tip of the iceberg. The region is a diamond in the rough.

Edited by JasnoDTX
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Apartment high-rise eyed for high-profile Uptown property
Steve Brown
March 15, 2016

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Owners of a high-profile Uptown corner are seeking approvals to build an apartment tower.

The residential high-rise would sit behind a row of one-story retail buildings at the corner of Cedar Springs Road and Fairmount Street.

Property owner Greenway Investment 22-story, 320-unit apartment tower and a parking garage on what is now a parking lot at Howell and Routh streets.

The existing retail buildings and an office building on the block that’s home to Good Fulton & Farrell Architects would remain, according to filings with the City of Dallas.

Good Fulton & Farrell has designed the apartment tower.

The proposed building is just one of about a dozen new high-rise rental communities in the works in downtown and Uptown Dallas.

A second phase of the development could add more than 460,000 square feet of office and retail space.

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Construction begins on 22-story residential tower in Knox Henderson neighborhood
Candace Carlisle
March 16, 2016

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Construction has begun on a new 22-story luxury residential tower in the Knox Henderson neighborhood in Dallas, which will bring 183 luxury residential homes and penthouses to this part of Dallas.

The soon-to-be developed high-rise — called The McKenzie — at the corner of Harvard Avenue and Tracy Street will be constructed by Dallas-based StreetLights Residential and equity partner Tricon Capital Group Inc. in an architectural style reminiscent of a historic luxury hotel.

Looney Ricks Kiss Architects is the project architect. Linda Tycher & Associates is the landscape architect. Waldrop + Nichols Studio is the interior designer.

The high-rise will have a valet, concierge and a 24-hour doorman. Construction is slated for completion in early 2018.

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Construction starts on new Cityplace apartment and hotel tower
Steve Brown
March 18, 2016

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Developers Forest City Enterprises and Cityplace Co. are building the 23-story high-rise on Blackburn Street just west of North Central Expressway.

The tower – which will cost more than $100 million – will have 389 apartments and a 150-room boutique hotel.

Hilton will operate the hotel as one of its new Canopy properties.

The building will open in 2017.

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