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Investors come to the rescue of stalled downtown Dallas skyscraper project
Steve Brown
May 2, 2016

 

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A California-based investor has made good on its promise to resurrect a troubled Dallas skyscraper redo.

 

Drever Capital has paid $65 million to buy downtown’s landmark First National Bank tower at 1401 Elm St. The sale closed Friday.

 

The new owner plans to move ahead with converting the tower into a combination of apartments, shops, offices and hotel rooms.

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“There are still more things that need to happen,” Crawford said. “It’s great that we have a big developer put a lot of time money and effort into making this project work.

 

“Their plans call for something new and different,” he said. “It’s a huge step forward in terms of where we are headed.”

 

Located at Elm and Akard streets, the First National Bank tower takes up an entire downtown block.

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“I can’t think of anything that will have more impact on downtown than breathing life back into that project,” Crawford said. “It will fill a huge void downtown.”

 

San Francisco-based Drever circulated a private investment offer to secure funding for its purchase and development.

 

The company has been in business since the 1960s, and the principals have invested more than $20 billion in projects.

 

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Major redo on the way for downtown Dallas office tower
Steve Brown 
May 2, 2016

 

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A new second floor deck with overlook Ross Avenue and the Arts District. (CBRE)

 

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New owners of the Saint Paul Place tower on Ross Avenue plan the largest renovations since the building was developed in the 1980s.

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Quadrant’s remodeling plans for Saint Paul Place include a new tenant lounge on the second floor, conference center and outdoor patio deck with fire pit.

 

The second floor deck will extend to Ross Avenue and overlook the Dallas Arts District.

 

“We are excited to get started on the improvements and unlock these amenities,” Chad Cook, founder of Quadrant Investment Properties, said in a statement. 

 

“Our goal with the renovation is to further enhance the tenant experience by providing multiple new venues to enjoy the building.”

 

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The same creator who developed The Joule's CBD Provisions is creating multiple concepts for Victory Park. 

 

New restaurant and retail venues on the way at Dallas’ Victory Park
Steve Brown
May 2, 2016

 

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Victory Park is ramping up its restaurant and retail offerings, with a new restaurant, a café and retail emporium.

 

Simon’s company – Rebees – has been hired to help with marketing and food and beverage services for all of Victory Park.

 

Rebees plans to develop and operate a 4,000-square-foot retail emporium in Victory Park that will feature locally made goods.

 

And Simon’s company will open and operate a 6,000-square-foot restaurant in the project.

 

Rebees will also set up 14,000-square-foot Victory Park co-working office center that will include a 3,500-square-foot café.

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Simon previously developed several popular Dallas-area restaurants including The Porch, Hibiscus, Victor Tangos, Fireside Pies and CBD Provisions.

 

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Oak Cliff’s Colorado Place development site bought for large apartment community
Steve Brown
May 4, 2016

 

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Lincoln Property Co. purchased the 18-acre Colorado Place property at Fort Worth Avenue and Colorado Boulevard.

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The developer hasn’t wasted any time moving ahead with construction plans.

 

Lincoln Property this week has filed for a building permit with the City of Dallas to construct 299 apartments at Colorado Place. The construction is valued at almost $30 million.

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And the property is part of the original 2,000-acre site of a historic French settlement built in the 1800s and called La Reunion.

 

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14 hours ago, BigFootsSocks said:

"Somethings not right about these pictures....Can we turn the HDR to 11?"

 

"I gotchu fam"

 

I agree, there is a good amount of HDR.

 

Nonetheless, they are current. :)

Edited by Sic'EmBears
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New rental community kicking off construction just east of downtown Dallas
Steve Brown
May 11, 2016

 

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The Dallas-based developer plans to build 340 units at Hall Street and Munger Avenue, a block off Ross Avenue.

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“We are incredibly excited about this opportunity,” Mill Creek managing director Rick Perdue said.

 

“With the proposed Kroger grocery store across Hall Street” the area is becoming a walkable neighborhood. “We are eager to be a part of this transformation.”

 

The Modera Hall Street apartments will take about 24 months to complete.

 

“We are starting work next week,” Perdue said.

 

The first units will be ready in October of 2017.

 

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April 2016 Update:

 

Love Field Modernization Program

 

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Construction kicked-off for LFMP II and Parking Garage C in May 2015 with the relocation of utilities and Department of Aviation offices, construction of the new cell lot and the installation of the parking guidance system. The beginning footprint of Parking Garage C can also be seen at this time.

 

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From Candy's Dirt:

 

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This stretch of Fitzhugh between Central and Ross is where Carl and Chris Anderson of Larkspur Capital Partners are seeking city approval to re-zone for a first of it’s kind condo flats project they believe will fit the bill perfectly for young buyers. 

 

The project is at 5209 Capitol Avenue, directly behind the Capitol Pub on Henderson. The name: Capitol Flats.

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To that end, Carl and his brother, Chris, who founded Larkspur Capital in 2013, are hoping to deliver a $400,000 to $500,000 product, the first of it’s kind in this neck of East Dallas: low to mid-rise contemporary condos constructed of expensive materials (marble, quartzite, white oak floors), lots of glass store front windows, and recessed balconies.

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“It is designed to be a transitional property from the brick and cantilevered retail —  as you go south on Capitol, the materials become softer with synthetic cladding and wood-looking exteriors, says Carl.  “We designed something we think is a perfectly beautiful fit for the location.”

 

Most importantly, the Anderson brothers, whom I have christened The Property Brothers, want this corridor to be completely pedestrian friendly and walkable. Their vision is to have Capitol Flats meld in with the huge new JLB Partners retail coming to the area.

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“We need to get the zoning that allows one more story,” says Carl. “We are building 38 units with an average floor plan of 1500 square feet, what the market dictates. Under current zoning, which was written in 1988 before Central expanded, we could still build 38 units but they would be only 800 square foot condos. We’re putting the same number of humans in each unit, just double the size for the market.”

 

To get their square footage, Larkspur is asking to go higher and closer to the sidewalk: four stories instead of three, and to take side setbacks from 10 to 5 feet on the sidewalks. In exchange, they are creating underground parking and pedestrian amenities on the front such as seating and a public art court: Capitol Flats will square off 300 square feet as a public sculpture garden with rotating art as a crow pleaser.

 

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Apartment tower in the works on downtown Dallas’ east side
Steve Brown
May 16, 2016

 

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Developer Greystar plans to build the tower in the City Lights project on Live Oak Street a block east of downtown.

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The project is planned to contain 350 apartments and 50,000 square feet of retail space, according to development plans filed with the City of Dallas.

 

The development plans include a “Multifamily Tower – 165 feet.”

 

That would be about 12 or 13 floors.

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The previous owners had hoped to construct a $175 million complex that included a grocery-anchored shoping center, high-rise residential

buildings. But the deal never got off the ground.

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Greystar already has one Dallas apartment tower in development – the 23-story, 302-unit Ascent apartment building in Dallas’ Victory Park, across the street from the American Airlines Center arena.


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Original plans for the City Lights project included residential towers. (DMN files)

 

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First retail tenant signed for downtown Dallas’ Thanksgiving Tower redo
Steve Brown
May 16, 2016

 

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The Dallas-based investment group is spending $37 million to revamp the 50-story, 1.4-million-square foot Thanksgiving Tower at 1601 Elm Street.

 

The ground floor of the 1980s building is being redone to include restaurants and retail space.

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Ascension Coffee is the first announced retail tenant for the office high-rise.

 

The Dallas-based coffee spot will open a 2,600-square-foot location in early 2017 in the ground-floor lobby on Elm Street. The location will include a large outdoor patio.

 

“We’re excited to welcome Ascension to the building. It’s an innovative company that shares our enthusiasm for downtown, and this location will add a wealth of options for our tenants and the larger downtown community,” Jonas Woods, owner of Woods Capital, said in a statement.

 

“Our extensive, curb-to-core renovation is expected to deliver in January 2017 and Ascension Coffee will be an effortless fit.”

 

Ascension Coffee has been in business in the Dallas Design District since 2008 and recently opened at The Crescent.

 

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Perot’s Hillwood Urban shopping Valley View mall for office development deal
Steve Brown
May 27, 2016

 

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A rendering of the new office tower that Hillwood Urban, one of Ross Perot Jr. s real estate development firms, plans to build on a 20-acre property that includes part of Dallas’ Valley View Mall.

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The real estate firm says it has started work on conceptual designs for the office project to house companies seeking 200,000 or more square feet.

 

“We like the property because it has the frontage on 635,” said Ken Reese, executive vice president with Hillwood Urban. “It’s also the piece of the property that’s on the planned park in the masterplan.

 

“We have already been whispering around a bit about it” with potential tenants, Reese said.

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Hillwood Urban was set up last year as one of the Perot family’s real estate firms. The company has development sites in downtown Dallas and in Victory Park and is seeking additional project opportunities.

 

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Throw one back: Vintage Dr Pepper ad planned for side of landmark Dallas building
Steve Brown
May 31, 2016

 

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Developers who are restoring a more than century-old downtown Dallas building want to give the project a historic super graphic.

 

Owners of the Purse Building at 601 Elm St. want to cover part of the brick wall on the east side of the 6-story building with a reproduction historic advertisement.

 

Developer Tanya Ragan is seeking city approval for installation of the colorful Dr Pepper soft drink mural.

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Ragan said the installation has been in the works for more than six months.

 

“Last we year did an art project on that side of the building,” she said. “We put the art up there and people started taking pictures and were calling us to say it looked great.

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The Purse Building will be converted into a mixed-use development.

 

“Our plans are to do office and first-floor retail and to start by the end of this year,” she said.

 

The Purse Building owners plan to develop a one-story restaurant and parking lot on the vacant half-block on the building’s east side.

 

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International engineering and design firm Jacobs planning headquarters move to downtown Dallas
Steve Brown
May 31, 2016

 

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A top engineering and design firm with more than 230 office around the globe plans to move its headquarters to Dallas.

 

California-based Jacobs Engineering Group already has more than 300 people working in the Harwood Center office tower in downtown Dallas. 

 

The 69-year-old company could bring almost 100 top officers and support staff to Dallas if it goes ahead with the head office move, real estate brokers who are tracking the deal say.

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“We hope to make an official announcement later this summer.”

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The company would be one of the top 10 public firms based in Dallas.

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Real estate brokers say that landing a firm like Jacobs is a big plus for downtown which is seeing hundreds of millions of dollars in investment and development.

 

“Absolutely it is extremely positive for the Dallas central business district,” said Phil Puckett, executive vice president with commercial real estate firm CBRE.

 

Such major moves downtown validate efforts made to revive Dallas’ core, said Joel Pustmueller, partner with Peloton Commercial Real Estate.

 

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21-story apartment tower planned for Uptown Dallas block near tollway entrance
Steve Brown
June 1, 2016

 

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Another high-rise apartment tower is in the works in Dallas’ booming Uptown district.

 

North Carolina-based Crescent Communities plans to build the 21-story tower on the site of a 1-story office building at McKinnon and Randall streets.

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The apartments would be built on top of 6-story parking garage located within the building.

 

WDG Architecture is designing the tower, which will have about 200 rental units.

 

Crescent Communities’ planned apartment project is one of more than a dozen high-rise rental projects in the works in Dallas.

 

More than 6,600 apartments are now under construction in central Dallas – more than in any area of North Texas.

 

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The developer also has an apartment building site on Zang Boulevard in Oak Cliff.

 

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The tower would replace a 1-story office building. (Crescent Communities)

 

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Here's the map, referring to the article.

 

Mark Cuban buys Design District site for Dallas Mavericks practice center
Steve Brown
June 2, 2016

 

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Cuban on Thursday bought about 13 acres at Stemmons Freeway and Inspiration Drive, directly across the freeway from Victory Park.

 

Cuban said he plans to quickly relocate to the just purchased  property in a temporary building space.

 

“We have a lot of long-term plans,” he said in an email.

 

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The Mavericks will repurpose one of the buildings into temporary practice facilities and eventually redevelop the site into a mixed-use complex.

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The Mavericks development could eventually include a wide variety of features, including a team store, public café, a museum and theater and outdoor plazas with water features, according to early design schemes for the project.

 

Cuban had said he wanted to keep the development in the downtown area.

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“The Design District could wind up looking more like Uptown in another decade,” said developer Jim Lake, a long-time owner in the area.

 

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Developer plans 40-story apartment tower on high-profile downtown Dallas site
Steve Brown
June 3, 2016

 

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The ultra high-rise residential building would sit next door to Dallas’ landmark Fountain Place tower at Field Street and Munger Avenue.

 

Chicago-based apartment developer Amli Residential is eyeing the project, which would be built on land now used for surface parking.

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“We don’t have anything to share at this time; we are very early in the process,” said Amli’s Taylor Bowen.

 

If the development gets off the ground, it would be Dallas’ tallest apartment tower and loftiest residential high-rise since the 42-story Museum Tower condo building opened three years ago.

 

“I just think this is another indication of what’s going on in downtown Dallas,” said John Crawford of the economic development group Downtown Dallas Inc. 

 

“There is a lot of interest in new residential in the downtown area.”

 

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More than a dozen high-rise apartment projects are in the works in downtown and Uptown.

 

And more than 6,600 rental units are under construction in central Dallas.

 

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The land was originally planned for a twin tower to the green glass, rocket-shaped skyscraper that was built in the 1980s.

 

Ross Perot Jr.’s Hillwood Urban owns the former Bank of America motor bank property just north of the property Amli is considering.

 

Hillwood Urban has designed an almost 50-story office tower for that block.


 

 

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16 minutes ago, JasnoDTX said:

^Can't wait to see some renders! Hope they'll make it gorgeous and get some design cues from Houston's 2929 Weslayan 40 story.B)

 

Could be waiting a while, my friend.  This is not much more than a rumor at this point.  To summarize the reality: Rumor has it that AMLI spoke to the owner of the property and IF AMLI buys that property, they might build an apartment building that could be as tall as 40 stories.

Edited by Houston19514
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