Las Colinas/North Irving Development

[Tnexster]

Apartments in the works for surplus ExxonMobil land
Builder Toll Brothers wants to develop a rental community on the Las Colinas site.

https://www.dallasnews.com/business/rea ... obil-land/

[zaphod]

I like those wood balcony cover things. The rendering has a little more architectural flair than your usual texas donut style project.

[Kelley USA]

I guess this project with LifeTime Fitness is trying to get off the ground again. It's nothing exciting. Basically a massive parking lot with 4 retail pad sites. Not sure why the developer would choose Lincoln Property to handle the leasing, seeing as they can't even lease the new Star Park property. But this development is very Las Colinas, no vision. Drives me nuts!

https://www.lpcretail.com/properties/la ... -terraces/

Makes me miss the days when this was the original vision for the property!

Joining in the development frenzy is Fort Worth-based Woodmont Co., which was to close yesterday on a 65-acre purchase from Houston-based Hines to develop the Terraces of Las Colinas. Weymouth says the project will put one million sf of retail, restaurant and entertainment space, two hotels, 200 residential units and 200,000 sf of office at the intersection of Texas 161 and Las Colinas Boulevard

[R1070]

So much parking. Yikes.

[vman]

So much parking. Yikes.

Yep. I wouldn't be too upset if this development doesn't happen.

[Kelley USA]

Here's some good information on Wells Fargo zeroing in on a tract on Lake Carolyn... My assumption was that they'd try and cobble together existing space, but this sounds like a new build.

https://www.dallasnews.com/business/rea ... ce-campus/

[Kelley USA]

I was thinking, if this comes to fruition, and all signs are pointing to it happening... I wonder what sort of development we might see here. At 400K sf that would be the same size as the new Christus Health Tower that's underway (15 stories). If they want a campus setting, I could see them developing 2 different mid-rises (maybe 6 or 7 stories each). Assuming they would also leave some additional space for a future addition!?

Other thought would be, does this help kick off some larger North Shore mixed-use development project?

[lwtx]

Any idea if this is being proposed for the parcel directly north of Williams Square (where DCURD has been rebuilding the retaining wall along the lake) or the parcel further west, across the street from TMF? Very exciting either way.

[Brettoj]

I didn’t realize KDC was apart of the North Shore development. If you look at their site there is a newer site plan that I do not remember seeing. Part of it is shaded red with ”build to suit office tenant” taking up one of the peninsulas.

[Kelley USA]

From what I've read and sort of heard, they are looking at the east parcel further away from the TMF. It would be the parcel shaded in red on the KDC site plan. I would love for this to be a catalyst to get the other portion of North Shore going, but that's probably still years away. Good to see some momentum though!

[lwtx]

Very good to see.

[Kelley USA]

There have been some rumors swirling about Project Falcon and Wells Fargo. Some people believe this could be much more than just a regional office, that it could be a Headquarters relocation for WF. I personally don't believe that and WF has even come out and said as much, but who knows. I guess it could always start as a Regional office and slowly transition to a HQ move. I'm sure we're still weeks / months away from any sort of announcement if at all.

[Addison]

There have been some rumors swirling about Project Falcon and Wells Fargo. Some people believe this could be much more than just a regional office, that it could be a Headquarters relocation for WF. I personally don't believe that and WF has even come out and said as much, but who knows. I guess it could always start as a Regional office and slowly transition to a HQ move. I'm sure we're still weeks / months away from any sort of announcement if at all.

That would be very surprising indeed.

Not so much WF relocating their HQ from San Francisco, but them selecting Dallas for their new HQ.

If any location made sense, it would be Charlotte for a number of reasons. Most importantly, because Charlotte already effectively functions as the company's HQ with 27K employees.

[Kelley USA]

If you remember, the City of Irving allowed the ARK Group to convert empty retail space at the Toyota Music Factory into office use. Well, looks like Curative is taking 50K sf of space on the 1st and 2nd floor. Projected $6 million build-out.

https://www.tdlr.texas.gov/TABS/Search/ ... 2022000257

[Kelley USA]

The crane is going up for the new Christus Health HQ. Pretty cool to see a crane again in the Urban Center.

Not really too much to speak about lately with regards to LC. I did notice that the Sandman Signature Hotel / Moxie's restaurant finally pulled permits with the City a few weeks ago. So maybe we'll see that get started soon. That development could use a shot in the arm, as they've failed to sign another single tenant after PF Chang's & Starbucks. Really sort of surprising considering the visibility and the fact that the retail portion is pretty nice!

[R1070]

It may be because a lot of the office workers around there are still mostly empty. There needs to be more housing built in the area as well.

[itsjrd1964]

On the heels of Four Seasons being named the hotel brand of an upcoming hotel & residences property in the Turtle Creek area of Dallas, news has come that the Las Colinas Four Seasons will discontinue its tie to the brand at the end of this year. No indication was given in the article as to a replacement brand or management company. The golf course will be newly- and separately managed.

https://www.dmagazine.com/frontburner/2 ... as-resort/

[CTroyMathis]

Marriott would drool over that property.

[cowboyeagle05]

Hey at least Dallas will still have a Four Seasons and it didn't go to Frisco. Las Colinas will find a suitable replacement easily.

[TXGunLover]

The 4 Seasons definitely lost value due to the departure of the PGA, but it's still an excellent property.

[cp14]

From sources inside its going to be converted to a Ritz Carlton or St.Regis. Talks are in final stages so should be a announcement soon or we'll know by the end of the year when Four Seasons will cut ties.

[cowboyeagle05]

I assume when it does move forward with a new flag there will be a serious investment for renovations as way as a way to "under new management" the property publicly. Not to suggest the property is in bad shape but if you wanna make a nice swing into the news cycle and try to counter the Four Seasons loss you get some nice millions thrown into the headlines so it makes an impact that the property is not going anywhere in terms of the luxury market of DFW hotels and golf courses.

[Addison]

From sources inside its going to be converted to a Ritz Carlton or St.Regis. Talks are in final stages so should be a announcement soon or we'll know by the end of the year when Four Seasons will cut ties.

Oh please let it be a St. Regis!

[Addison]

BTW, hopefully Mandarin Oriental will make another attempt at opening here.

They had literallly committted to a project just a few months before COVID hit, then it died.

[R1070]

St Regis would be nice, they were previously slated to open along the Katy Trail many years ago. Their projects typically have nice residences included, which would be a shame if they didn't have that offering in Dallas.

[Kelley USA]

Hudson House opens this Thursday. I hope business is so brisk it spurs other restaurateur's to take a look at the area. I'm still shocked that we haven't seen ANY movement on the vacant spaces at 114 & 161 (Star Park) besides the Starbucks and PF Chang's.

[Kelley USA]

Well..... Actually had a conversation with the leasing team for Star Park. They told me they have 4 -5 tenants coming to lease within a month. So, looks like things are shaping up maybe. No word on what type of tenants or names though. I feel like when agents start to panic they start signing leases with liquor stores, dental offices, nail salons etc... Hoping we get at least a few more quality restaurants!

Also looks like Water Street has 2 - 3 more new tenants at lease. Lamberti's is opening a new concept in the old Olivella's Pizza spot called Chimera here.

[Kelley USA]

Looks like the Four Seasons is set to become a Ritz Carlton, with Chef John Tesar opening several restaurant concepts (Italian Steakhouse, Burger Restaurant and a Poolside Taco & Tequila Bar). Looks like a top to bottom renovation on the way!

https://escapehatchdallas.com/2022/04/t ... the-plans/

[ContriveDallasite]

Not a bad switch out. Any changes planned with the golfing?

[Addison]

Looks like the Four Seasons is set to become a Ritz Carlton, with Chef John Tesar opening several restaurant concepts (Italian Steakhouse, Burger Restaurant and a Poolside Taco & Tequila Bar). Looks like a top to bottom renovation on the way!

https://escapehatchdallas.com/2022/04/t ... the-plans/

Meh...

EDIT: It does beg the obvious question though, that being what will be the fate of the Ritz-Carlton downtown...

[Kelley USA]

Came across this today, listed as Coming Soon for the Mandalay Canal Walk. Could be nothing but they apparently have hired a retail leasing team.

https://www.retailstreetadvisors.com/pr ... ycanalwalk

[R1070]

Looks like the Four Seasons is set to become a Ritz Carlton, with Chef John Tesar opening several restaurant concepts (Italian Steakhouse, Burger Restaurant and a Poolside Taco & Tequila Bar). Looks like a top to bottom renovation on the way!

https://escapehatchdallas.com/2022/04/t ... the-plans/

Meh...

EDIT: It does beg the obvious question though, that being what will be the fate of the Ritz-Carlton downtown...

I can't imagine they'd give up their Uptown location for one in Irving. There's markets that have more than one Ritz property, perhaps that's the plan here as well.

[Kelley USA]

I think they'll all serve very different markets and clientele. The Las Colinas location is a true resort with 2 golf courses, multiple resort style pools, villas, beautiful grounds to walk etc...The Uptown location seems to serve mostly business travelers and weekend getaways. Not sure about the Frisco location just yet as no renderings or details have been announced, but that location is probably a good 4 - 5 years from opening.

[Addison]

Looks like the Four Seasons is set to become a Ritz Carlton, with Chef John Tesar opening several restaurant concepts (Italian Steakhouse, Burger Restaurant and a Poolside Taco & Tequila Bar). Looks like a top to bottom renovation on the way!

https://escapehatchdallas.com/2022/04/t ... the-plans/

Meh...

EDIT: It does beg the obvious question though, that being what will be the fate of the Ritz-Carlton downtown...

I can't imagine they'd give up their Uptown location for one in Irving. There's markets that have more than one Ritz property, perhaps that's the plan here as well.

Only Miami and LA have more than one Ritz.

The difference is though, in addition to multiple Ritz hotels, LA also has brands such as Waldorf Astoria and Fairmont while Miami has brands such as St. Regis and Mandarin Oriental.

Dallas will now be unique in terms of having 3 locations of a main line luxury hotel, yet not a single exclusive luxury hotel & residence. Even Houston has a St. Regis.

[R1070]

Meh...

EDIT: It does beg the obvious question though, that being what will be the fate of the Ritz-Carlton downtown...

I can't imagine they'd give up their Uptown location for one in Irving. There's markets that have more than one Ritz property, perhaps that's the plan here as well.

Only Miami and LA have more than one Ritz.

The difference is though, in addition to multiple Ritz hotels, LA also has brands such as Waldorf Astoria and Fairmont while Miami has brands such as St. Regis and Mandarin Oriental.

Dallas will now be unique in terms of having 3 locations of a main line luxury hotel, yet not a single exclusive luxury hotel & residence. Even Houston has a St. Regis.

Is the Fairmont in Dallas a different than the one you mentioned in LA? We just need to get a St Regis and Mandarin Oriental to have a pretty solid lineup. Both have shopped Dallas for locations. There's more projects with hotels in their pipelines, so hopefully we would see some of these land here. I imagine they'd rather be in Central Dallas than out in Frisco though.

[Kelley USA]

Site grading has started for the Lifetime Fitness. Not sure if they've signed any tenants for the pad sites yet, but at least Lifetime is getting underway.

[TXGunLover]

Fish City Grill (Las Colinas) is closing permanently on May 22nd. Sephora & James Avery will be taking over the old GAP space on MacArthur. Pet Supplies Plus will be taking over the old Pier1 space.

[Kelley USA]

Fish City Grill (Las Colinas) is closing permanently on May 22nd. Sephora & James Avery will be taking over the old GAP space on MacArthur. Pet Supplies Plus will be taking over the old Pier1 space.

Haha, I see you read my updates on the Las Colinas Social Facebook page! Also, Tupelo Honey will be opening at Star Park. I've been to the location in Frisco at The Star a number of times. Really great place! This will be only the 2nd location for them in Texas. Also looks like The Stretch Lab is opening at Star Park. Definitely good to see some movement on the retail / restaurant front.

Water Street is also actively working 4 - 5 new leases.

Finally, the brokers for Las Colinas Village (Hudson House center) have an "exciting" new tenant signed that they should be announcing very soon. They seem pretty pumped about it, so who knows!

[TXGunLover]

Fish City Grill (Las Colinas) is closing permanently on May 22nd. Sephora & James Avery will be taking over the old GAP space on MacArthur. Pet Supplies Plus will be taking over the old Pier1 space.

Haha, I see you read my updates on the Las Colinas Social Facebook page! Also, Tupelo Honey will be opening at Star Park. I've been to the location in Frisco at The Star a number of times. Really great place! This will be only the 2nd location for them in Texas. Also looks like The Stretch Lab is opening at Star Park. Definitely good to see some movement on the retail / restaurant front.

Water Street is also actively working 4 - 5 new leases.

Finally, the brokers for Las Colinas Village (Hudson House center) have an "exciting" new tenant signed that they should be announcing very soon. They seem pretty pumped about it, so who knows!

Indeed I do!

[lwtx]

Say Kelley, any idea what’s in the works for the former Schlotzky’s on Oconnor? I would hope for a newly renovated Schlotzsky’s, but doesn’t seem like they would have removed the exterior signage for that. Sniff.

[txjdirv]

Say Kelley, any idea what’s in the works for the former Schlotzky’s on Oconnor? I would hope for a newly renovated Schlotzsky’s, but doesn’t seem like they would have removed the exterior signage for that. Sniff.

The latest Las Colinas Association restaurant guide list a new Starbucks opening at that address.

https://lascolinas.org/las-colinas-restaurant-guide/

[lwtx]

Thanks for the info. Would rather have had both a Schlotzky’s and a Starbucks in the neighborhood, but it could have been worse I suppose.

[lwtx]

The newly renovated Plaza at Williams Square opened this week. Huge improvement… much more pleasant space to be in. I’ll try to add some pics.

[lwtx]

Sorry for the rotated images:

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[Tnexster]

Thanks for the photos, looks like a significant increase in green space.

[Kelley USA]

I walked through there yesterday. Looks amazing! Really hoping they can attract a few restaurants for the end-caps. But the park gets a huge thumbs up from me!

[undefinedprocess]

Looks much better, and once those trees mature, the shade will be great. Thanks for sharing!

[Kelley USA]

Found this article sort of interesting, about the potential sale of the Toyota Music Factory.

https://www.dmagazine.com/commercial-re ... new-owner/

[TigerMiner]

Looks like the sale is official.

https://www.dallasnews.com/business/real-estate/2022/05/24/irving-agrees-to-sale-of-its-music-factory-entertainment-center/

[Kelley USA]

Noticed today 2 separate pending P&Z cases related to North Shore. Not too much info available at the moment, but cases are for Office, Multifamily, Retail & Restaurant uses. A separate tract, right behind Texican Court is designated for a parking garage. If that is the case, I'm on board with that. Seems like they want to build a large parking garage across the street from the development instead of having parking garages within the development. Would love to see some renderings of what this is going to look like!