Downtown Dallas: Newpark Dallas/Smart District

Tnexster
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Tnexster » 28 Jun 2022 15:33

undefinedprocess wrote:I just don't understand how hard it is to land a tenant considering One NewPark has relatively little office space. I understand the caution from companies considering Hoque Global's record is, well... But, hyper-mixed-use tower with huge resi component... Something's definitely up. I find it hard to believe they haven't been able to land a tenant for nearly 2 years... I understand in a massive tower like Field Street Tower (Hillwood's garbage), but here..? Sigh.

And the multitude of stuff they've proposed everywhere else and have made zero progress on is strange, too...


I just get the impression they aren't ready for prime time.

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Tivo_Kenevil
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Tivo_Kenevil » 28 Jun 2022 19:44

Hoque Global is a third rate developer

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Addison
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Addison » 28 Jun 2022 20:08

Tivo_Kenevil wrote:Hoque Global is a third rate developer


No shortage of those in Dallas, unfortunately.

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rono3849
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby rono3849 » 28 Jun 2022 20:28

The more I read about Newpark and the developer, the less confidence I have in it actually coming out of the ground. The area is going to have some challenges once it's built because of the neglect that area has endured for decades. If the city houses government offices in the building, it might have a chance. If it is a vertical high school, I fear that it will be a war zone. If anyone has had the experience of walking the halls of a high school in the Dallas ISD, then you'll see how they are defaced and are in broken down condition. The students just tear these buildings up without abandon. Hell, they might throw furniture from the upper floors of the tower. Sadly, it's that bad and maintenance is a total nightmare.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Tnexster » 29 Jun 2022 17:01

rono3849 wrote:The more I read about Newpark and the developer, the less confidence I have in it actually coming out of the ground. The area is going to have some challenges once it's built because of the neglect that area has endured for decades. If the city houses government offices in the building, it might have a chance. If it is a vertical high school, I fear that it will be a war zone. If anyone has had the experience of walking the halls of a high school in the Dallas ISD, then you'll see how they are defaced and are in broken down condition. The students just tear these buildings up without abandon. Hell, they might throw furniture from the upper floors of the tower. Sadly, it's that bad and maintenance is a total nightmare.


That's what bugs me about this, they are so desperate for a tenant they are actually considering an ISD. Part of it is supposed to be a hotel, what flag is it?

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Tivo_Kenevil
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Tivo_Kenevil » 29 Jun 2022 18:08

This developer suffers from a local phenomenon known as..."Dallas Brain"...

Medical Experts have described this ailment as a "Cognitive Disorder that impairs a Person's ability to make rational plans and or decisions. It often leads them to seek an unattainable grandiose vision(s)".

Studies have shown that it affects 8/10 developers in Dallas.
A recent study even went on to say that "[...] sufferers often make multiple iterations of the same unfeasible vision. With the undying hope that a catalyst (often envisioned as a Fortune 500 Company) will materialize themselves and make their fantasy a reality. This is known as a "Tenant-Paralysis". Which often leads to other issues such as Economic And Financial obstacles and credibility deterioration."

Researchers aren't sure if there's a cure for this. But some say it can be prevented by "making reasonable and sensible plans. Like small residential development or redevelopment of older properties; before taking on bigger plans".

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby cowboyeagle05 » 29 Jun 2022 19:23

They aren't talking about putting a school in this tower. The whole school thing is meant for other parcels in later phases of the NewPark development in smaller buildings meant just for education. There is already a Dallas ISD school nearby already and it is a school that targets planning and architecture programming due to its surroundings. We aren't talking about building a generic Rydell High here. Anything DISD would integrate would be a part of a Dallas College system and DISD collaboration for kinds of education that targets certain training for jobs that are in demand and make sense for this area. DISD certainly isn't proposing putting a basic high school in a luxury office building and neither is the developer. This first phase "1 NewPark Tower" will be just a hotel/office and residential with some ground-floor restaurant space. A hotel management company has signed on previously but as far as we know a hotel flag has not finalized a deal cause the tower wasn't finalized until recently for its fiancing. The tower isn't even a real go until a lead tenant signs on. All the talk about it starting soon is the usual developer talk to say we can start as soon as the right tenant signs a lease. Yall have to read through the usual fluff piece written by a PR firm and published by the DBJ and the DMN.

https://newparkdallas.com/one-newpark/

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby DFW » 23 Aug 2022 23:03

Well, I would assume this project may be dead. After the city granted them incentives of 96.1 million yet they can’t get any tenants.

https://therealdeal.com/issues_articles/magic-mike/

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby rono3849 » 24 Aug 2022 01:14

DFW wrote:Well, I would assume this project may be dead. After the city granted them incentives of 96.1 million yet they can’t get any tenants.

https://therealdeal.com/issues_articles/magic-mike/


Sadly, the link has a paywall and is inaccessible unless you pay. If no one is interested in this property to office in, live, or gain a hotel brand, then I'd say it is DOA. If and when a new convention center is built, perhaps that area of Downtown will be more appealing for potential companies to lease space.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby CTroyMathis » 24 Aug 2022 07:21

rono3849 wrote:
DFW wrote:Well, I would assume this project may be dead. After the city granted them incentives of 96.1 million yet they can’t get any tenants.

https://therealdeal.com/issues_articles/magic-mike/


Sadly, the link has a paywall and is inaccessible unless you pay. If no one is interested in this property to office in, live, or gain a hotel brand, then I'd say it is DOA. If and when a new convention center is built, perhaps that area of Downtown will be more appealing for potential companies to lease space.


Give this one a go: https://pdf.fivefilters.org/makepdf.php ... mit=Create

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Tucy
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Tucy » 24 Aug 2022 10:51

rono3849 wrote:
DFW wrote:Well, I would assume this project may be dead. After the city granted them incentives of 96.1 million yet they can’t get any tenants.

https://therealdeal.com/issues_articles/magic-mike/


Sadly, the link has a paywall and is inaccessible unless you pay. If no one is interested in this property to office in, live, or gain a hotel brand, then I'd say it is DOA. If and when a new convention center is built, perhaps that area of Downtown will be more appealing for potential companies to lease space.


That takes a lot of hoping and fantasizing. Food for thought: the proposed new convention center will be farther from Newpark than the current convention center, and I don't recall ever seeing a convention center generate demand for nearby office space; I don't think I've ever even seen a convention-center-development booster claim that it would generate demand for nearby office space.
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby IcedCowboyCoffee » 24 Aug 2022 12:04

I think there's no escaping that this Newpark lot will be the last area inside the loop to get developed. It will take the surrounding areas expanding and slowly encroaching on this space to finally see it go vertical.

The proposed deck park would do wonders, but as far as I'm aware that's purely theoretical and not part of the convention redo funding so who knows when that would really see the light of day.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Pinhi » 24 Aug 2022 12:36

I remember the first time I saw the renderings of this project I knew it wouldn't happen. Why? It's on the south side of Dallas. The further south you go in Dallas, the more crime. Simple deal. The park over I-30 in South Dallas will also be riddled with crime as well. Wait and see.
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Pinhi
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Pinhi » 24 Aug 2022 12:37

I remember the first time I saw the renderings of this project I knew it wouldn't happen. Why? It's on the south side of Dallas. The further south you go in Dallas, the more crime. Simple deal. The park over I-30 in South Dallas will also be riddled with crime. Wait and see.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby cowboyeagle05 » 24 Aug 2022 13:45

Woooooh why are we claiming this project is dead? This article was published overseas and reprinted and sold here in this paywalled site. They interviewed two people who had doubts for a good reason, as we have long discussed on this thread, but what part proves the project is dead? It's the same info we got when they approved the city financing and the article was created during the week that financing was granted, so it's not privy to new info from the developer. Seems like a lot of assumptions that this article just makes the same arguments we all have but not any real news here.
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby undefinedprocess » 24 Aug 2022 15:24

rono3849 wrote:
DFW wrote:Well, I would assume this project may be dead. After the city granted them incentives of 96.1 million yet they can’t get any tenants.

https://therealdeal.com/issues_articles/magic-mike/


Sadly, the link has a paywall and is inaccessible unless you pay. If no one is interested in this property to office in, live, or gain a hotel brand, then I'd say it is DOA. If and when a new convention center is built, perhaps that area of Downtown will be more appealing for potential companies to lease space.

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Inside Dallas developer Mike Hoque’s improbable rise
Can the Hoque Global head successfully juggle his megaprojects?
 August 2022 Issue /
August 02, 2022 07:00 AM
By Patrick Sisson

Mike Hoque (Photo by David Halloran)

Most developers who dare to take on megaprojects do them one at a time. Mike Hoque is not most developers.

Consider just the following projects the 49-year-old head of Hoque Global hopes to realize south of downtown Dallas: SoGood @ Cedars, a 15-acre complex with apartments and a brewery; the Newpark district, which in just its first $380 million phase will include a 38-story tower, 225,000 square feet of office space, a hotel and nearly 300 residential units; and University Hills, a 270-acre urban village near the University of North Texas with hundreds of homes, plus commercial buildings and a town center.

The Bangladeshi-born serial entrepreneur previously started a series of successful businesses and restaurants. In 2015, Hoque bought and renovated the 27-story Adolphus Tower, which he now describes as “the only boutique office building in downtown.”

But that’s hardly the kind of track record you see for someone looking to reshape a city. Hoque is now poised to take a significant jump into developing millions of square feet. He’s also heading up the Evans & Rosedale District in southside Fort Worth and a Hill Country project called the Vineyard at Florence, a $500 million “residential winery” with 1,000 homes under development. Those are major, complex projects whose impact on the city have some in the business questioning whether Hoque is the right person to bring them to life.

“He’s got a slick presentation,” said Monte Anderson, a longtime Dallas developer who runs Options Real Estate.

“It’s just coming out of nowhere. I see these resumes and fancy websites, but what has he actually done himself?”

Rik Adamski, principal of local planning and design firm Ash + Lime, said funding Hoque’s ambitious projects didn’t seem like a particularly constructive use of the city’s money, given the area’s lack of significant office demand.

Hoque would counter that what he may lack in experience, he makes up for in ambition, business acumen and the humblebrag philosophy of never being the smartest person in the room. He’s savvy enough to bring on skilled partners. Newpark, for instance, will be done with corporate developers — Dallas-based KDC and Aimbridge Hospitality, as well as Omaha-based Lanoha — with Hoque focused on what he knows best, restaurant and retail.

“We never try to do everything by ourselves,” Hoque said during a video interview from his office in Comerica Tower, dozens of stories above one of his former prize restaurants, Dallas Chop House, which closed earlier this year. He then played a promotional video of Newpark, later pointing out, with a wry smile, that he never spoke on screen once. Genial and compact, with a shaved head and wearing a casual dress shirt, Hoque seems to lean slightly forward, signaling energy under the surface. Steve Van Amburgh, CEO of KDC and a partner with Hoque, said he was a hands-on manager, both patient and urgent all the time; collaborators should be prepared for both early morning and late night calls


Newpark

Hoque’s audacious bet to head up multiple megadevelopments simultaneously and remake a good portion of South Dallas have been years in the making and represent a belief that adding significant downtown office and retail space can work even as urban commercial property is going through a big post-pandemic reckoning.

That vision also relies on help from friends in high places, including Governor Greg Abbott, who approved Opportunity Zone designations for a good portion of Hoque’s portfolio, and the Dallas City Council, which offered up to $96.1 million in incentives for Newpark and up to $31.4 million for University Hills. Hoque also has the backing of a silent partner.

“Getting out of jail”
Hoque has shown himself to be a shrewd, strategic operator, able to work with local officials and pull the available levers of public support.

The story typically told about him reads like an embodiment of the American entrepreneurial dream.

Hoque arrived in Dallas from Dhaka, Bangladesh, at age 15, a military academy graduate sent to visit an uncle on a trip he described as “getting out of jail.” He used the discipline drilled into him at school to enter and succeed in an array of businesses (he still wakes up at 4 a.m.). When he informed his father he wasn’t coming home, he was cut off.

After spending a few years in New York City, Hoque returned to Dallas in 1999 energized. He co-founded a chauffeur business, starting with a single Town Car (during one tour for Boeing execs on a corporate HQ search, he overheard them complain there was nothing for their employees to do downtown, which got him thinking about retail and hospitality real estate). Armed with $300,000 he was saving for his daughter’s inheritance, Hoque started in the restaurant game in 2005, opening Go Fish Ocean Club. The restaurant, where he “tried to do everything himself,” shuttered in 2010, but Hoque was off to the races. Over the next few years, he started such spots as Dallas Fish Market and Wild Salsa, operating them under Dallas Restaurant Group and claiming he was being called the “Danny Meyer of Dallas.”

He also refined his way of doing business, characterized by working with family and bringing on strong operating partners while he focuses on creativity (“once I create a concept, I’m pretty much thinking about the next thing,” he said). The head of his restaurant group, Nafees Alam, was pushed to get an MBA, then at his graduation, was given a box of business cards, which identified him as CEO.

Around 2010, Hoque began an assemblage on the south side of downtown Dallas, methodically buying up parcels from nearly 100 owners to put together 35 acres: a 15-acre site South of I30 between Good-Latimer Expressway and Cesar Chavez Boulevard that will be SoGood, and a 20-acre assemblage, the future site of Newpark, which sits between the convention center and Farmers Market.

At the time, it was a dead zone, with little commercial activity and barely a place to get a cup of coffee. Hoque said that so many other developers kept heading further north, “all the way to Oklahoma,” and that he didn’t want to be the developer who just bought a small track, flipped it and turned to the next project.


SoGood @ Cedars

The Adolphus exemplified this philosophy. Hoque doesn’t like debt, doesn’t raise a lot of money from outside and, instead of being a “deal junkie,” only makes acquisitions “that we know we have the medicine for.” In the case of the assemblage, he said he wanted to do something significant for the south side, focused on education and technology. He soon reached out to the business improvement district, Downtown Dallas Inc., said Evan Sheets, the group’s vice president of development, to start talking about planning.

“I didn’t tell the sellers of the land what my plan was,” Hoque said. “I was just buying as much land as I could buy to do a significant development. You won’t change that area, you won’t change people’s minds, without doing something big.”

Hoque’s thesis of mixed-use development being a transformative force solidified during this time.

“His first four or five concepts along Main Street and downtown were really the first in the area, and he took a big risk putting them there,” said Sheets. “He saw an emerging residential population interested in a more urban lifestyle. He was instrumental in a kind of proof of concept.”

Wake-up call
Hoque tried to use the Newpark parcel, previously called the Dallas Smart District, as a lure to win Amazon’s HQ2. After a year of courtship, he failed, but the experience convinced him of Dallas’ potential as a tech hub. He also altered his tactics, as he put it, and “woke up.”

“When I say I woke up, you know, it was a punch in the gut, like we got left at the altar,” he said, referring to the failed Amazon deal. “I had to wake up for my city. Dallas has two international airports, good education, but I don’t think it’s marketing itself very well. So I had to wake up and think about how we reshape our city.”

Hoque also became more aggressive about courting city and state government. Without the $98 million in tax-increment financing, a tool that diverts future property tax income to economic redevelopment, Newpark “wouldn’t pencil out,” he said. His proposal for University Hills better matched the sort of laboratory model the city wanted compared to the plan put forward by the previous property owner, Centurion American. Hoque hired a firm to lobby Abbott for the Opportunity Zone designations. Created by the 2017 tax law, these areas provided capital gains benefits for long-term economic development in a bid to steer economic activity to underdeveloped neighborhoods. Hoque scored a coup by including land he owned. D Magazine said these areas happened to be “where real estate developers had already acquired land and the fundamental economics were in place.” A Dallas Federal Reserve specialist cited in the magazine article, who studied the state’s OZ designations, concluded that they would merely accelerate change in already gentrifying areas.

Sheets, from the downtown business district, argues that the city isn’t as exposed to risk as one might think. There are performance-based incentives in the TIF agreement, which doesn’t take money from school funding, and Hoque’s creative vision includes many other experienced developers.

It also includes, crucially, the support of a wealthy partner, Kris Davis, the daughter of oil billionaire Ray C. Davis. In previous interviews, Hoque referenced an unnamed female benefactor who wished to remain nameless. The Real Deal‘s examination of business records for Hoque’s real estate and restaurant projects uncovered Kris Davis, an owner of Vineyard at Florence, who brought Hoque onboard that particular project in 2018. When contacted by TRD, Davis said they met a decade ago, and joined together to establish an ESG fund, FAQ Capital, to invest in projects that can have “meaningful impact on communities.” The fund functions as an investment vehicle for multiple Hoque projects.  Hoque takes the lead on developments, Davis said, and they work together to set investment strategy.

“We met for lunch weekly for two years before we ever invested a dollar,” said Davis. “Mike and I both believe in taking the time to get the vision for projects right and have the patience for responding to market movements.”

Hoque’s attempt at creating a new neighborhood in South Dallas isn’t the first effort to revitalize that region, but it may be the first coming at a time when the fate of big, centralized neighborhoods centered on commercial real estate, the pre-pandemic megadevelopment model, is facing a reckoning in a distributed-work world. After years of talking about his plans and the potential to lure companies downtown, Hoque still lacks a big-name tenant. Dallas office real estate has been slow to get out of a slump; the 4.2 million square feet of leasing last quarter was still 19 percent below pre-pandemic averages. After break-even absorption in the first quarter, office absorption was negative in the second quarter, according to Avison Young, with a glut of sublease space identified as a big culprit. JLL specifically called out the big increase in subleasing in the central business district.

But these challenges haven’t deterred Hoque. His projects have clicked with the city’s larger vision of urban development, and he’s aiming to break ground on Newpark in the second quarter of next year, sure the location is the latest in a series of intrepid bets that will pay off.

“You create opportunity by creating this kind of big, bold movement,” he said. “You could have the headquarters of Google, Facebook and Twitter here. Projects like this will open other people’s eyes.”

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DFW
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby DFW » 24 Aug 2022 16:47

The link is a little tricky, all you have to do is close the pop up subscription ad and arrow back to read the entire article. It works for me. I’m not a subscriber.

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dallaz
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby dallaz » 22 Feb 2023 17:19

Updated renderings of NewPark with the new convention center

https://youtu.be/rSmxcpo_plk

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Tivo_Kenevil » 22 Feb 2023 17:49

Hoque Global is a joke.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby dallaz » 22 Feb 2023 17:55

Tivo_Kenevil wrote:Hoque Global is a joke.

Until they actually get out of the ground…I can’t argue that. Would be nice to see more movement and not just updated renderings. But I guess someone can look at it in a positive way, at least it’s not dead :lol:

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DFW
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby DFW » 22 Feb 2023 21:34

Just wondering if there’s a deadline from the city on the incentives that were offered for this first phase of construction.
Also, why do you think Hoque Global is stalling so much yet they keep producing new renderings of the master plan development?

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby cowboyeagle05 » 22 Feb 2023 23:24

DFW wrote:Also, why do you think Hoque Global is stalling so much yet they keep producing new renderings of the master plan development?


Cause they have to have a lead tenant to start anything, and they don't have any serious bites. The City incentives only get paid out if they get a lead tenant to sign and finish the project in time. This new round of renderings is because the city committed to the Convention Center redo, and Hoque Global, along with their big investor, is trying to use the additional incentive of a multi-billion dollar convention center investment as a final carrot to try to get a lead tenant interested. I bet after these next 6 months, things will be damn silent.

Developments in Uptown with no lead tenants have a much better chance of success than this proposal cause no one believes Hoque Global can pull it off. Give the land to other more well-known developers in Dallas, like Hunt, who is building the Goldman Sachs HQ, and you have a chance. Most likely, Hunt doesn't want this land either, though. Names like Hunt have a long track record of big projects, and Hoque Global is a small new guy that wants to be on their level, but big corporations want sure things when they sign these big leases.
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Addison » 23 Feb 2023 07:39

A developer doesn't *HAVE* to have a lead tenant to start a project.

But for a developer that has no experience what so ever executing these types of project and is not willing to put their own equity on the line, I suppose they would...

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby lakewoodhobo » 23 Feb 2023 09:55

Tivo_Kenevil wrote:Hoque Global is a joke.


For what it’s worth, they seem to be moving dirt on SoGood. So, not a complete joke I guess.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby R1070 » 23 Feb 2023 11:16

The project keeps getting shorter with each iteration. The next update will have it reduced to a QT and CVS. lol

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby eburress » 23 Feb 2023 12:23

I can't imagine anybody seriously thinks this is going to become anything more than a QT/CVS anytime soon.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Cbdallas » 23 Feb 2023 12:35

I think the question these days is not about the developer but why can't we find any tenants to open offices downtown instead they go to the burbs. The biggest news for the last several years has been about converting unused office space in building into apartments and hotels yet no business use. I am fine with converting older building to apartments but when will we see if ever new office buildings with tenants again.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby IcedCowboyCoffee » 23 Feb 2023 13:41

R1070 wrote:The project keeps getting shorter with each iteration. The next update will have it reduced to a QT and CVS. lol

As it should. There's no reason for these buildings to be as tall as they are except for wishful thinking on Hoque Global's part. They could easily build something modest with modest rents right now--which is the only thing that makes sense for this area at the moment--then go vertical when the area can justify it in 30 years. But nah, we gotta live with our city being a massive parking lot.

The North End apartments made sense for the site they were on at the time they were built 30 years ago. Now they don't, so they've been torn down and are being replaced. Could this area around the new convention center someday see the kind of activity that Victory Park/Uptown does right now? Sure. But if it does it won't be on any quicker of a timeline than the latter had, and it won't be until after the new convention center is done, so we're still looking at 30~40 years before a project like Newpark actually makes sense.
So, in the mean time, we could build something people actually live in and afford and add to the city's activity and let the neighborhood develop organically like any good neighborhood is supposed to. Or Hoque could keep sitting on their hands waiting for a golden goose tenant that's not coming, which seems to be the MO for most developers around town.

The implication of these renderings, that Hoque hopes to create out of thin air just as much gravitational pull as a prime spot in the middle of Victory Park/Uptown, is a waste of their time, our time, and the city's time.
The East Quarter is a much more desirable spot than this and look at how slow and steady its transformation has been. Even the proposed towers there are more modest and realistic than this.
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby rono3849 » 23 Feb 2023 14:10

I always thought this project was a pipe dream.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby zblevinz555 » 20 Sep 2023 02:50

I know this project is a pipe dream, but came across this photo in an article and if you zoom in on the rendering next to mike, there’s differences in the latest renderings one being the massive building in the back that looks twice, if not more, the size of One NewPark. I know this project may never get out of the ground but thought I’d share anyway.
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby rono3849 » 20 Sep 2023 12:34

The original plans were to accommodate Amazon, which would have an entire area of Downtown dedicated to it and its accessory businesses. That went bust, so they redesigned a more downscale development, which still can't get off the ground.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby DFW » 20 Sep 2023 23:07

That photo is more than a year old as well as the article it came from. I’m sick and tired of hearing about this guy and the NewPark development that will never get off the ground. What a joke!

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Hannibal Lecter » 20 Dec 2023 11:02

Fort Worth cancels $70M contract with developer for ‘Evans and Rosedale Project'

The plan would bring more than 290 apartments and retail/office space to the Historic Southside, but construction hasn't begun more than five years after the project was introduced.

...

On Dec. 17, Fort Worth city officials announced it had canceled developer Hoque Global’s contract to build the Evans and Rosedale project.

https://www.nbcdfw.com/news/local/fort- ... t/3414776/

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rono3849
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby rono3849 » 20 Dec 2023 19:03

NewPark has fallen off the radar and into the pipedream file.

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Tivo_Kenevil
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Tivo_Kenevil » 20 Dec 2023 19:12

Hoax Global.

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Kelley USA
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Kelley USA » 21 Dec 2023 09:27

Look, I really don't blame the guy. He had a vision and he's tried hard to sell that vision to make the project a reality. He did bring in some big time partners in KDC & Lanoha, so it's not just Hoque. At the very least he tried to give us some architecture that's 99% better than the stuff currently going up in this town. But I also don't think this is the best time to try and lease huge chunks of office space DT. Will it ever get off the ground? Likely not! But hey, the guy is giving it a helluva run for someone that's basically a restaurant owner. The dude just loves Dallas, can't hate him for that!

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RodB
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby RodB » 21 Dec 2023 18:36

He still received $96 million from the city of Dallas to build Newpark, so he might try to get something built. At this point he has no credibility with anyone.

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Dallas_Uptown
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Dallas_Uptown » 21 Dec 2023 19:22

Meh…I need receipts to buy this tale.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby zblevinz555 » 21 Dec 2023 21:52

If he had just pulled off Amazon, it would’ve transformed this city and he’d be revered in this city. But him failing to secure Amazon really seemed seal his fate.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby I45Tex » 21 Dec 2023 23:19

HQ2 has yet to transform Northern Virginia... which did pull it off... but the Kool Aid jobs promise sounded strong enough that one didn't have to drink it to believe in the power of primacy.

:ugeek: ::deion:: :ugeek:

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I45Tex
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby I45Tex » 22 Dec 2023 09:05

[quote="I45Tex"]HQ2 has yet to transform Northern Virginia... which did pull it off... but the Kool Aid jobs promise sounded strong enough that one remembers.

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rono3849
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby rono3849 » 22 Dec 2023 19:45

I45Tex wrote:
I45Tex wrote:HQ2 has yet to transform Northern Virginia... which did pull it off... but the Kool Aid jobs promise sounded strong enough that one remembers.


I haven't read anything about HQ2's expansion in Northern Virginia. I know that Amazon was going to expand in New York too, but it was met with substantial resistance. If Dallas would have landed the HQ2 site, I don't know if we would have seen an huge impact on the city or not. It all seemed like a mirage to me. We have seen Amazon's expansion of warehouses all over the area in the past few years.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby undefinedprocess » 29 Dec 2023 11:50

Tivo_Kenevil wrote:Hoax Global.

There's a reason I made a sticker of this in the Discord.
Making fun of the Pipedream Prince aside, at this point, Hoque doens't have the team to pull anything off. He's got a great archviz contact, but that's it. One NewPark alone should already be underway. A hyper-mixed-use tower, while complex by nature, should be much easier to get started in the current ecnomic and financial climate than an office-only project, for example. I understand that interest rates are through the roof and construction loans are probably a pain to get, but at this point, Hoque really does seem to be a hoax. Seriously – can't even get things moving in SoGoOd?

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I45Tex
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby I45Tex » 31 Dec 2023 01:50

Hoque is billed as the master developer if third party developers Corsair Ventures have broken ground at SoGood (have they?)

https://www.dmagazine.com/commercial-re ... he-cedars/

https://www.corsairventures.com/the-chloe-at-sogood

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby tamtagon » 31 Dec 2023 07:22

The biggest potential in downtown right now is the opportunity to integrate the three adjacent master plans - smart district, convention center and hunt reunion, could even throw in Matthew's Southside.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby mhainli » 31 Dec 2023 08:24

tamtagon wrote:The biggest potential in downtown right now is the opportunity to integrate the three adjacent master plans - smart district, convention center and hunt reunion, could even throw in Matthew's Southside.

Yes indeed. Hope city leaders and these property owners are thinking this and planning accordingly.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby tamtagon » 31 Dec 2023 09:12

Pedestrian movement must be the overarching design. Vehicular traffic, particularly peak volume, should be channeled away from the primary gathering spaces.

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sterling
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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby sterling » 31 Dec 2023 19:42

How about making surface parking out of it for 40 years? By then,we should be able to come up with something nice.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Tnexster » 02 Jan 2024 09:01

I have noticed a lot of utility work going on around this property for months. Not that it means anything i just can't help but notice since I have to drive past it so much.

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Re: Downtown Dallas: Newpark Dallas/Smart District

Postby Tnexster » 13 Feb 2024 16:28

Mike Hoque still pursuing ambitious developments — even one his firm appears to have lost
Hoque Global CEO quietly forges ahead with big plans; In Fort Worth, city claims 'unacceptable delays'

https://www.bizjournals.com/dallas/news ... dates.html

About five years ago, the city of Fort Worth tasked Dallas development firm Hoque Global LLC with an important project: create an urban village in a historically Black community where residents have awaited development for decades.

The Evans and Rosedale project, on city-owned land in the Southside neighborhood, would add hundreds of apartments and up to 27,000 square feet of commercial space.

It was one of a handful of ambitious mixed-use developments the company's CEO, restauranteur-turned-developer Mike Hoque, has proposed over the past few years to reshape places across North Texas. Others, largely in Dallas' southern sector, include a nearly $400 million tower just south of downtown and a 270-acre residential and commercial community.

In Fort Worth, Hoque and his team say dozens of community meetings to meet neighborhood concerns delayed the process and higher commercial interest rates complicated the financing picture. They said they were blindsided when they received letters from the city informing them of the decision to terminate the development contracts.

"Inflation, interest rate increases and cooling of commercial development have contributed to unacceptable delays, and key deadlines have not been met — even following extensions," the city said in a Dec. 17 statement.