Dallas Fort Worth Urban Forum

Tucy

Interesting news:

JC Penney Has Quietly Moved Out of its (former) Plano Headquarters
https://www.dallasnews.com/business/ret ... dquarters/

Tucy

Dup post. Sorry

Tucy

homeworld1031tx wrote:That's a 630,000 sq ft tower? Looks much smaller.

The story has been corrected. 225,000 square feet.

Tucy

See what I mean? Three articles in two weeks! Someone's excited (and the developer's investment in that 83 story rendering has paid handsome returns). https://www.dallasnews.com/business/real-estate/2020/11/11/first-look-lush-park-planned-for-dallas-uptown-area/ https://www.dallasnews.com/business/r...

Tucy

I don't get the feeling Legacy is stalled at all. Plans for more Granite Park towers are in the works, the JC Penny campus stuff is moving forward, and plans for additional residential towers on the east side of DNT & Legacy are still underway. Just be patient. $1 billion Plano redevelopment of...

Tucy

How does Oak Lawn have anything to do with this development? Frankly, that's an over reach IMO. It's in the City's Planned Development District #193 (also known as the Oak Lawn Special Purpose District), which falls under the jurisdiction of the Oak Lawn Committee. You can see the map here: https:/...

Tucy

I suspect they threw that 890 foot tower out there merely to generate some buzz about the development. Dangle a bauble like that in front of Steve Brown and your marketing is done. ;-) It's a beautiful development plan. If it goes forward with even 1/4 of the square footage, it will be a huge improv...

Tucy

ajderry2017 wrote:https://www.bizjournals.com/dallas/news/2020/11/09/uptown-mixed-use-site-could-feature-1.html

83 stories?!? Lol ya I’ll believe it when I see it. (Aka I see construction cranes)

How can developers propose these things during a pandemic?

Maybe they have a lot of time on their hands?

Tucy

Thanks Kelley and Undefined. Interesting that there has been secrecy about the Gucci and Tory Burch stores. I haven't seen anything in the news and cannot find anything on-line about either.

Tucy

Does anyone have an update on the Tiffany and Louis Vuitton stores that are coming to Legacy West? When announced back in March, it was said they were to be completed in September and October.

Tucy

October 2020

2 units sold. 7 sold in 4 months. (1.75 per month) 42 remaining

Sellout projection: 2 years, 4 months.

Tucy

Oct 2020

Two units sold. 75 sold in 35 months (2.14 per month) 83 remaining

Sell-out projection: 6 years, 2 months.

Tucy

Oct 2020 Zero sold. 112 sold in 95 months. (1.18 per month) 1 remaining Rolling 12-month sales: 5 (.42 per month) Sellout projection, based on the pace of sales thus far: 8 years. Sellout projection, based on the rolling 12-month pace of sales: 8 years, 2 months. In addition to Unit 202 that remains...

Tucy

The company's new corporate address will be 2100 McKinney Ave. in Uptown Dallas. https://www.bizjournals.com/houston/news/2020/10/30/cbre-headquarters-relocation-dallas-bob-sulentic.html?ana=e_me_prem&j=90535422&t=Morning&mkt_tok=eyJpIjoiTlRjeVl6a3hZVEkyWm1SaiIsInQiOiJ1bENwaGtROTNcL25mM3...

Tucy

Newpark.Tower.jpg This is the rendering of Newpark Tower #1 that has been discussed. Dallas Morning News says the tower will start in early 2021. I guess I was wrong about this development's future. The South side of Downtown, coupled with the East Quarter 24 Building, could see a real boost in the...

Tucy

!! Not to mention the prior, far more exciting, iteration.

Tucy

It seems like there have been a bunch of proposed riverfront projects recently, but none of them seem to be happening.

Tucy

Is it just me or is the final product going to be a considerable deviation from the final renderings that were published? It doesn’t look like the horizontal/vertical ledges are there and will be mainly a glass exterior. Maybe I’m way off. No, you're right. This is not at all the same building as i...

Tucy

Very exciting news! The Thompson Hotel will open November 14. Honestly thought I'd never see the day.

https://www.dallasnews.com/business/rea ... -national/

It looks beautiful!

Tucy

Any sign of work starting here? Last we heard, hotel construction was supposed to start in October.

Tucy

Two relatively large buildings between Meadow and Royal, right off of 75, were demolished over the last few months. They had been heavily damaged by the tornado from last October. I'm not at all sure how the lease cancellation works when you're building is destroyed. Capture.JPG Thanks. So, yes, th...

Tucy

texasstar wrote:I do have one question. If Blue Ceil is really 390 feet tall, then how is a 388-foot-tall building now the tallest in Harwood?

"tallest office building"

Tucy

I wonder if the demolition of some of those offices around 75 and walnut contributed to the massive reduction. Not sure which demolitions you are referring to, but if they've already been demolished, they were almost certainly vacant well before the start of the third quarter, so no, that would not...

Tucy

Does this include Tenet's move to Flower Mound? Sadly, it probably does not, because Tenet's lease at Fountain Place runs through 2024, IIRC. That space (about 165,000 square feet) would presumably be reflected in the 1.2 million square feet of sublet space available in the CBD and in the 26.3% &qu...

Tucy

Well its 27 stories? The 27 office floors will be "stacked" on top of the parking layer. So, this tower will be 36 stories tall. Based on the multiple articles and the renderings, that does not seem to be the case. The base(parking, two story lobby and a little bit of ground floor restaur...

Tucy

My reading of the report says the only outcome you could derive is 'pandemic'. Every submarket they track except West Plano/Frisco lost, and West Plano/Frisco's gain was small (110k sq ft). Rest of Plano, Richardson, Las Colinas, Irving, Denton, Garland, Allen all negative and if you are trying to ...

Tucy

Interesting that Haynes & Boone is moving from Victory Park, having just moved to One Victory Park 12 years ago. When they announced the move to One Victory Park, they said "our firm leadership set out to position the organization for the year 2020 and beyond." And now that we got to 2...

Tucy

So I guess we're not getting 580 feet as was suggested earlier.

Tucy

COVID-19 Ravages D-FW Office Market (from DMN) Newmark Knight Frank and Transwestern studies show Central Dallas being hit particularly hard. North Texas office occupancy dropped by almost 2.5 million square feet in the third quarter, following a smaller decline in the previous three months. Far Nor...

Tucy

For casual forum readers, 120 basis points is 1.2%, so their measurement of our current rental market (not the total housing market) is based on an Intown inventory of 13,500 ( = 162/0.012) apartments and an Oak Lawn / Park Cities area inventory of 18,500 ( 222/0.012) That's not quite correct. I be...

Tucy

Windrose Tower is the sales champions among DFW high-rises.

41 sales in 10 months of sales. 4.1 per month. 55 remaining.

Sellout projection at this pace of sales: 2 years.

Tucy

September 2020

1 unit sold. 5 sold in 3 months. (1.67 per month) 44 remaining

Sellout projection: 2 years, 6 months.

Tucy

Sept 2020

One unit sold. 73 sold in 34 months (2.15 per month) 85 remaining

Sell-out projection: 6 years, 2 months.

(There were also 2 resales during September)

Tucy

Sept 2020 Zero sold. 112 sold in 94 months. (1.19 per month) 1 remaining Rolling 12-month sales: 5 (.42 per month) Sellout projection, based on the pace of sales thus far: 7 years, 11 months. Sellout projection, based on the rolling 12-month pace of sales: 8 years, 1 month. In addition to Unit 202 t...

Tucy

So does Houston have a plan to provide a connection the their light rail system or will you just come out of the station and have to take uber or a car to get into the urban core of the city? On that note, do we have a plan here in Dallas to provide a connection to DART? The old conceptual renderin...

Tucy

The old conceptual renderings for the station included a skybridge connection to the Dallas Convention Center DART station. The newer renderings don't show off a view of such a connection but I imagine it would still be the plans. Moving walkways like in airports would make this a very short hop an...

Tucy

Cbdallas wrote:So does Houston have a plan to provide a connection the their light rail system or will you just come out of the station and have to take uber or a car to get into the urban core of the city?

On that note, do we have a plan here in Dallas to provide a connection to DART?

Tucy

Not every company wants a suburban location simple as that. And going forward I think lots of companies realize WFH is the norm for the foreseeable future. Wouldn't be surprised if companies realize they don't need to build a sprawling campus in the burbs. REI realized this and sold their newly bui...

Tucy

While it's unclear if the coronavirus will eventually cause mass abandonment of Downtown areas when leases expire, the Dallas Central Business District itself has already been impacted, with more office workers staying home and businesses contemplating changes in their future footprints. "We ha...

Tucy

Debt Tied To Iconic Harwood Center Lands On DBRS Watch List After Risk Of Default The property has a vacancy rate of 30%, which is in line with the rest of the Dallas Central Business District and apparently will rise to 38.5% vacancy if the GSA does not renew its lease this month (September). Read ...

Tucy

Victory Park’s newest developments head for an opening next year Developer Hillwood’s new Victory Commons office building and the 39-story Victor apartments are being built next to the American Airlines Center. https://www.dallasnews.com/business/real-estate/2020/09/18/victory-parks-newest-developm...

Tucy

Finally ventured back into downtown today, the progress here really reminds you how long COVID has lasted. flora.sept.17.a.jpg Very true. I expect it should be ready for move-in by mid-Q1 in 2021, if not earlier. It will depend on how fast the interior work will take. I do hope it injects more vibr...

Tucy

That would be a very good-looking building. Hope TC can make it happen.

Tucy

August 2020

3 units sold in Month 2. 4 sold in two months. (2 per month) 45 remaining

Sellout projection: 2 years, 1 month.

Tucy

August 2020

One unit sold. 72 sold in 33 months (2.18 per month) 86 remaining.

Sell-out projection: 6 years, 1 month

Tucy

August 2020 Zero sold. 112 sold in 93 months. (1.2 per month) 1 remaining Rolling 12-month sales: 6 (.5 per month) Sellout projection, based on the pace of sales thus far: 7 years, 10 months. Sellout projection, based on the rolling 12-month pace of sales: 7 years, 11 months. In addition to Unit 202...

Tucy

Is the penthouse still a split deal? Also, I heard from a couple of residents (so, just anecdotal or whatever) that no buyer wants to take on owning the rooftop option because they would be responsible to buy the full roof insurance for the tower which would be astronomical apparently. . . (?) I fo...

Tucy

Warrior2015 wrote:Well so far occupancy is still good downtown according to the podcast I attended the other day. They seemed quite optimistic about the future of downtown.

What podcast did you attend? Link?

Tucy

Can you summarize? The link isn't working for me. The Dallas/Fort Worth multifamily market experienced modest downward movement in market fundamentals in Q2 due to COVID-19 and the economic downturn. The average effective rental rate declined 0.6% from the prior quarter. Occupancy edged down 30 bas...

Tucy

[quote="The_Overdog"]We can be worried about downtown (and DFW in general) when projects start getting cancelled, the pipeline dries up, rent prices drop, and so on. Right now, none of that is happening. /quote] CBRE 2nd Quarter 2020 Multifamily Market Report: DFW market imbalance leads to...

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