Dallas Fort Worth Urban Forum

rono3849 wrote:

Tucy wrote:Can anyone find any FAA, TDLR, or city building permit filings?

Well, I don't have any information on that, but you can drive by the site and see for yourself that something is going on there. These were nice sized pieces of equipment.

Tucy wrote:

rono3849 wrote:

Tucy wrote:Can anyone find any FAA, TDLR, or city building permit filings?

Well, I don't have any information on that, but you can drive by the site and see for yourself that something is going on there. These were nice sized pieces of equipment.

What has that equipment been up to?

rono3849 wrote:

Tucy wrote:

rono3849 wrote:
Well, I don't have any information on that, but you can drive by the site and see for yourself that something is going on there. These were nice sized pieces of equipment.

What has that equipment been up to?

I haven't been by that site in some time. I'll check it out.

DFW wrote:

rono3849 wrote:

Tucy wrote:
What has that equipment been up to?

I haven't been by that site in some time. I'll check it out.

I went by there four days ago and the equipment was still there at the eastern portion of the construction site that is fenced around. Although that same construction equipment has been sitting there for a while since someone else mentioned it a few weeks ago. Also the storm we had a week ago blew down a section of the fence on the south side.

Tucy wrote:Still can't find any building permit applications for this.

rono3849 wrote:Like everything else, if it's not broken ground, this won't be happening anytime soon. Money is frozen.

tamtagon wrote:A little pause is good. The money will collect around the best sites soon enough. Municipal and university construction projects on tap are huge, so the workers will still be around.

zblevinz555 wrote:https://youtu.be/VI-jAidMiRM?si=J6hHKhwxtiSCOmCt

Hopefully dirt will fly this year. Looks like he said one of the smaller structures would be first.

rono3849 wrote:

zblevinz555 wrote:https://youtu.be/VI-jAidMiRM?si=J6hHKhwxtiSCOmCt

Hopefully dirt will fly this year. Looks like he said one of the smaller structures would be first.

It was great to hear that this development is still in the pipeline. As suspected, the uptick in interest rates & COVID's impact on office vacancy slowed the company's plans to break ground, but it certainly sounds like they are bullish on building the entire development. Additionally, they are looking at the adjacent parking lots for potential purchase for future plans as well. Uptown & Victory areas are nearing critical mass, so the Arts District and Field Street District look to be natural areas for the next expansion Downtown.

Facing the same challenges as everyone wanting to build office towers in the post-pandemic era, an Atlanta-based developer hopes to get moving soon on a huge project that would bring life to a desolate corner of the Arts District.

In 2021, with the help of a $20 million loan from Bank OZK, Portman Holdings bought about 3.6 acres at 2500 Ross Ave. The company then revealed plans to build three high-rises, the tallest being up to 50 stories, with 450,000 square feet of office space, 800 to 900 residences, retail and public green space.
The project, Dallas Gateway, is still on the drawing board, according to Scott Miller, vice president of development at Portman Residential, who shared the latest updates in December on local commercial real estate podcast Working Title with Zach Sams. Miller said he's unsure when the three-year project will begin but that he hoped to get started in 2024.

Miller said the Dallas project is phased so the buildings can start separately of each other. The first building will be a multifamily tower with some retail, and an office component is still planned later down the line.

"We're still bullish on office — cautiously optimistic would probably be the better word — but we still plan on building office in the future," Miller said. He mentioned that as tech tenants in Austin started pulling back on office space, the company switched an office component of its development there to multifamily.

Miller is especially a big believer in the Arts District. He said Portman's site has several advantages in size and location. The company has a big footprint for downtown with 3.5 acres and is also eying an adjacent 8 acres.

DFW wrote:Let’s hope they do start,this could be the game changer for downtown to in courage other developers.