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Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

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tamtagon
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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby tamtagon » 08 Feb 2019 09:28

The Epic office space in Deep Ellum is nice new office space (not as fancy as Victory/Uptown), but different because of the neighborhood; it's important to watch how Epic does because it could be an office space ice-breaker for this side of town - Deep Ellum, Farmers Market, Cedars. It's the cool sort of office space really only attempted in The West End, and exactly what the downtown area needs. The buttoned up space for lawyers and bankers and corporate decision makers is huge and stagnant in the CBD, growing and potent in Victory/Uptown and these workers are more likely to live in a big house. What the Downtown area needs is office space for folks more comfortable living in East Dallas and Oak Cliff rather than North Dallas and Park Cities.

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jetnd87
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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby jetnd87 » 19 Feb 2019 10:44

"The new business set up by CBRE, named Hana, is set to announce its first deal with a landlord. CBRE will create a workspace on three floors of Dallas’ PwC Tower in a venture with Metropolitan Life Insurance Co. , the owner of the tower in a 900,000-square-foot complex. The facility is scheduled to open in midyear."


https://www.wsj.com/articles/cbre-launc ... listb_pos4

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby Jbarn » 19 Feb 2019 13:57

Do we know yet if any restaurants have signed on for the ground floor space?

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby lakewoodhobo » 26 Feb 2019 13:24

Jbarn wrote:Do we know yet if any restaurants have signed on for the ground floor space?


Perry’s Steakhouse and Grille to Relocate in Uptown
https://www.dmagazine.com/commercial-re ... =feat-sect

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Jbarn
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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby Jbarn » 26 Feb 2019 13:43

lakewoodhobo wrote:
Jbarn wrote:Do we know yet if any restaurants have signed on for the ground floor space?


Perry’s Steakhouse and Grille to Relocate in Uptown
https://www.dmagazine.com/commercial-re ... =feat-sect


This is so Dallas - placing a very expensive steakhouse in a prime location, directly across the street from the most visited park in the city. Missed opportunity to put a really neat, approachable establishment there I think.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby Tivo_Kenevil » 26 Feb 2019 15:45

Yawn ... I'd rather see Whataburger.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby Cbdallas » 26 Feb 2019 15:49

I don't know how they are going to fill all of this restaurant space in the city anyway so I am just glad someone took the space. I have fairly deep contacts inside that industry here and they are all saying at this point it is all down to cannibalization of customers across the board and barely able to pay bills to stay open. One slight downturn in eating out and many will close shop.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby ArtVandelay » 26 Feb 2019 18:59

It’s interesting how The Union seems to have all the momentum and Park District is struggling to fill up the retail. I don’t think Perry’s is what they had in mind pre-construction. You would have thought this development would have top billing due to location. I think the new tower catty-corner from it next to the Meyerson has higher occupancy.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby jetnd87 » 26 Feb 2019 19:27

W.r.t. restaurants, I think a lot of the Union's momentum (at least with The Henry and North Italia) has to do with the developer knowing the guy behind Fox Restaurant Concepts (both based in Phoenix). No idea if the Park District is taking awhile or if this is normal.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby vman » 27 Feb 2019 07:22

Jbarn wrote:
This is so Dallas - placing a very expensive steakhouse in a prime location, directly across the street from the most visited park in the city. Missed opportunity to put a really neat, approachable establishment there I think.


I agree. Seems like a much better location for Shake Shack imo.

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jetnd87
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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby jetnd87 » 27 Feb 2019 08:52

I wonder if the ground floor concept, a more casual "bar," will be that approachable spot.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby Kelley USA » 28 Feb 2019 09:32

Don't forget, there's still 7K sq ft of restaurant space next to where Chase is. I think the plan was always to have an upscale restaurant, casual restaurant and a grab-n-go spot. I bet we'll see something more approachable go in as well!

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby cowboyeagle05 » 28 Feb 2019 10:28

Keep in mind guys Park District Tower is a luxury tower and I mean actual luxury not just what every apartment slaps on a flyer. They are leasing Apartments at super high prices. They wanted to sell units on a Ritz Carlton level of service so a Steak House is not surprisingly what they want to take a prime retail space facing the park. I bet they got a really good deal because Perry's is a good brand option for the office executives in the office tower. They wont go to Whataburger level of approachable but they will probably do something that is more light lunch and dinner driven for the next space they have available but it wont be cheap. They are trying to project themselves as on a similar level as Central Park New York, New York being so close to Klyde Warren.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby Kelley USA » 28 Feb 2019 11:22

A quick glance at the website indicates the approx. pricing for apartments...

1 Bedroom- $2500 / 2 Bedroom- $6000 / 3 Bedroom- $12,000

I'm assuming they can find enough gullible buyers to pay these prices. I mean don't get me wrong, the finish-outs are spectacular!

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby Jbarn » 28 Feb 2019 14:03

cowboyeagle05 wrote:Keep in mind guys Park District Tower is a luxury tower and I mean actual luxury not just what every apartment slaps on a flyer. They are leasing Apartments at super high prices. They wanted to sell units on a Ritz Carlton level of service so a Steak House is not surprisingly what they want to take a prime retail space facing the park. I bet they got a really good deal because Perry's is a good brand option for the office executives in the office tower. They wont go to Whataburger level of approachable but they will probably do something that is more light lunch and dinner driven for the next space they have available but it wont be cheap. They are trying to project themselves as on a similar level as Central Park New York, New York being so close to Klyde Warren.


But there will probably only be a very small percentage of the folks that live and work in those buildings that will frequent this restaurant. The residents will be out working during the day, and many office workers bring their lunch to work now. If this were a good business model, Victory Park would have thrived. So you can either appeal to the several hundred people who live and work in these two buildings, who will probably very rarely go to this restaurant, or you can appeal to the thousands and thousands of people that frequent Klyde Warren Park every weekend. I believe it was a missed opportunity. So very Dallas.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby Cbdallas » 28 Feb 2019 14:30

Not to worry I am sure it will be many different incarnations in that space as is happening in other spaces. The commercial owners and brokers just want signed tenants they are not concerned with what might suit the area it is just about their coin.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby cowboyeagle05 » 28 Feb 2019 17:24

Jbarn wrote:
cowboyeagle05 wrote:Keep in mind guys Park District Tower is a luxury tower and I mean actual luxury not just what every apartment slaps on a flyer. They are leasing Apartments at super high prices. They wanted to sell units on a Ritz Carlton level of service so a Steak House is not surprisingly what they want to take a prime retail space facing the park. I bet they got a really good deal because Perry's is a good brand option for the office executives in the office tower. They wont go to Whataburger level of approachable but they will probably do something that is more light lunch and dinner driven for the next space they have available but it wont be cheap. They are trying to project themselves as on a similar level as Central Park New York, New York being so close to Klyde Warren.


But there will probably only be a very small percentage of the folks that live and work in those buildings that will frequent this restaurant. The residents will be out working during the day, and many office workers bring their lunch to work now. If this were a good business model, Victory Park would have thrived. So you can either appeal to the several hundred people who live and work in these two buildings, who will probably very rarely go to this restaurant, or you can appeal to the thousands and thousands of people that frequent Klyde Warren Park every weekend. I believe it was a missed opportunity. So very Dallas.


While those are valid points the reality is the owner/developer usually wants tenants and retail that appeal to the executives who sign the office leases not the general public/office workers/resident.

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jetnd87
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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby jetnd87 » 01 Mar 2019 08:59

Per this article (yes it's Steve Brown), Park District office building is already ~3/4 leased. Will be interesting to see which development projects kick off next...

https://www.dallasnews.com/business/rea ... e-building

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby willyk » 02 Mar 2019 01:29

Jbarn wrote:
cowboyeagle05 wrote:Keep in mind guys Park District Tower is a luxury tower and I mean actual luxury not just what every apartment slaps on a flyer. They are leasing Apartments at super high prices. They wanted to sell units on a Ritz Carlton level of service so a Steak House is not surprisingly what they want to take a prime retail space facing the park. I bet they got a really good deal because Perry's is a good brand option for the office executives in the office tower. They wont go to Whataburger level of approachable but they will probably do something that is more light lunch and dinner driven for the next space they have available but it wont be cheap. They are trying to project themselves as on a similar level as Central Park New York, New York being so close to Klyde Warren.


But there will probably only be a very small percentage of the folks that live and work in those buildings that will frequent this restaurant. The residents will be out working during the day, and many office workers bring their lunch to work now. If this were a good business model, Victory Park would have thrived. So you can either appeal to the several hundred people who live and work in these two buildings, who will probably very rarely go to this restaurant, or you can appeal to the thousands and thousands of people that frequent Klyde Warren Park every weekend. I believe it was a missed opportunity. So very Dallas.



Perry’s already does fine. But it’s expense account dining, not local residents.

There is definitiely another market to be tapped that includes the locals and the KWP crowds. Lark on the Park is going there. Maybe the Lincoln building will too.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby Tnexster » 02 Mar 2019 11:01

willyk wrote:Perry’s already does fine. But it’s expense account dining, not local residents.


Funny, the only time I have eaten there is on somebody else's dime for a business lunch.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby lakewoodhobo » 04 Mar 2019 12:37

Award-winning Miami restaurant headed to Uptown Dallas' new Park District project
https://www.dallasnews.com/business/rea ... ct-project

A Florida-based Southern style restaurant change has picked Uptown Dallas' new Park District project for its first location.

Yardbird Southern Table & Bar will open a 7,000-square-foot eatery in the 2-tower mixed-use development overlooking Klyde Warren Park at Pearl Street and Woodall Rodgers Freeway.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby DPatel304 » 04 Mar 2019 12:46

Never heard of this place, but atmosphere and price point seem more approachable than Perry's. Still a little more on the pricier side, but just barely, and I also like that it presents itself as more casual and not at all like a 'fine dining' establishment. I think this will be a good fit for the area.

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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby tanzoak » 16 Mar 2019 10:16

Kelley USA wrote:A quick glance at the website indicates the approx. pricing for apartments...

1 Bedroom- $2500 / 2 Bedroom- $6000 / 3 Bedroom- $12,000

I'm assuming they can find enough gullible buyers to pay these prices. I mean don't get me wrong, the finish-outs are spectacular!


I am extremely confused by these prices. How is a 2BR more than twice as expensive as a 1BR? Someone made a major screw-up if that's really the case.

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tanzoak
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Re: Uptown Dallas: (PWC) Park District Tower (316 FT | 20 ST) + Residences at Park District (385 FT | 32 ST)

Postby tanzoak » 16 Mar 2019 10:23

From checking their website, it looks like the 1BRs start at $2400, while the 2BRs start at $4200. That makes more sense, though it's still quite a hefty price difference. And it's not my understanding that Dallas has been building a ton of 1BRs with few larger options, so that wouldn't explain it. Perhaps relatedly, there are 10 2BRs available, and only 3 1BRs.


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