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DD: 1401 Elm and Thompson Hotel

Tnexster
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DD: 1401 Elm and Thompson Hotel

Postby Tnexster » 27 Oct 2016 12:55

Why is Maxwell Drever spending $240M to save an iconic Dallas skyscraper?

http://www.dallasnews.com/business/real ... ent-dallas

Since buying the building, Drever Capital has hired a new general contractor, Andres Construction, and restarted construction. Dallas-based Merriman Anderson Architects is the designer.

"Mr. Drever started spending money immediately," Dorsey said. "He spent millions of his own dollars way before he had title to it.

"This is the largest demolition and asbestos abatement project ever in Texas."
Drever Capital Management and Dorsey's BDRC Partners redesigned the project to include a hotel and less retail — a change from the original plan.

"With 480 [apartment] units originally, it was just too much," Drever said. "We went the hospitality route and are bringing the apartments down to around 300 units."

The retail and restaurant space will now mostly be on the ground floor, not occupying multiple floors as in the first plans. There will be a 900-space parking garage, a rooftop garden, public areas on the ninth floor and a spa for the hotel and apartments.

Tnexster
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Re: Downtown: The Drever

Postby Tnexster » 27 Oct 2016 12:56

How is this one coming along? Any visible progress anybody can share?

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Tivo_Kenevil
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Re: Downtown: The Drever

Postby Tivo_Kenevil » 27 Oct 2016 13:16

Tnexster wrote:How is this one coming along? Any visible progress anybody can share?


Walk by it everyday. There's some work being done in the insides. No visible progress on the exterior though.

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dukemeredith
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Re: Downtown: The Drever

Postby dukemeredith » 27 Oct 2016 13:44

I have the pleasure of seeing it every day from my office. The last two weeks they have been removing the dirt and overgrown vegetation from the rooftop. There's a front-end loader moving dirt as I type.

I have yet to see people moving around in the tower itself, thought. It appears to be pretty well gutted.

Drever 1.jpg


Drever 2.jpg
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Dmkflyer
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Re: Downtown: The Drever

Postby Dmkflyer » 27 Oct 2016 14:35

I really hope they bring back the pinstripe lighting. Though, changing them to LED with the ability to change colors. Staying white most of the time as its signature and changing for holidays and events.

That said, I have loved what BofA has been doing with it's lights this week. If anyone hasn't seen it, it has been doing color displays and motions using the full range and then pausing for several minutes at a time on its signature green. I don't know if it is just temporary or what it will be from now on, but I love it.

Tnexster
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Re: Downtown: The Drever

Postby Tnexster » 27 Oct 2016 15:34

I am also hoping they do something creative with the lighting. I would think in this day and age they would, since it is residential and hotel maybe they would do something that was not so bright and more subdued.

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theoryNine
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Re: Downtown: The Drever

Postby theoryNine » 31 Oct 2016 13:55

I'm in the Kirby next to the Drever and have a pretty great view of the terrace. They've torn out all the planters and overgrowth that was there pretty quickly over the past couple of weeks.

IMG_0165.JPG


IMG_0164.JPG
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tamtagon
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Re: Downtown: The Drever

Postby tamtagon » 31 Oct 2016 14:25

...just imagine the smart downtown soirees that'll happen on that terrace. High enough to give a city view, low enough to spot something on the street. The style of 1950s rat-pack entertaining is coming back to Dallas, such a good thing because Dallas needs to be a little more buttoned up.

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Jay9398
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Re: Downtown: The Drever

Postby Jay9398 » 31 Oct 2016 15:49

theoryNine wrote:I'm in the Kirby next to the Drever and have a pretty great view of the terrace. They've torn out all the planters and overgrowth that was there pretty quickly over the past couple of weeks.

IMG_0165.JPG

IMG_0164.JPG


I can see my apartment in the first picture. Hope you're not watching me. :P

Tnexster
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Re: Downtown: The Drever

Postby Tnexster » 31 Oct 2016 16:01

Wow that is great, thanks for the pics. Nice to see some action resuming here.

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theoryNine
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Re: Downtown: The Drever

Postby theoryNine » 01 Nov 2016 14:24

Jay9398 wrote:I can see my apartment in the first picture. Hope you're not watching me. :P


*Waves* Hi, neighbor!

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ContriveDallasite
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Re: Downtown: The Drever

Postby ContriveDallasite » 02 Nov 2016 10:57

The reactivation of this building will have a tremmendous impact on the street environment of downtown. I'm also excited to see what they will do with the lighting, it's been a black hole in the skyline for so long.


DPatel304
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Re: Downtown: The Drever

Postby DPatel304 » 11 Nov 2016 12:01

ContriveDallasite wrote:The reactivation of this building will have a tremmendous impact on the street environment of downtown.


Yes, I can't wait. The problem with these big construction projects is that, while the end product will tremendously help the city, the construction process creates this nasty dead space for a year or so.

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Jay9398
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Re: Downtown: The Drever

Postby Jay9398 » 11 Nov 2016 13:57

maconahey wrote:http://dallas.crains.com/article/news/empty-skyscraper-could-become-hottest-address-downtown-dallas


That article says they are seeking a grocery store concept! Yes, please!

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theoryNine
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Re: Downtown: The Drever

Postby theoryNine » 13 Nov 2016 15:53

Jay9398 wrote:
maconahey wrote:http://dallas.crains.com/article/news/empty-skyscraper-could-become-hottest-address-downtown-dallas


That article says they are seeking a grocery store concept! Yes, please!


Oh, I know they had considered it a good while back but I thought they had dropped it from the plans. Right now the signs just say retail/restaurant. I really hope the article is correct and they're looking at grocer options again. There's a Downtown Residents Council meeting happening at the Drever this coming Thursday. If I make it I plan to ask if they're still looking into a grocery option, as well as what the external lighting situation will be.

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JohnMcKee
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Re: Downtown: The Drever

Postby JohnMcKee » 13 Nov 2016 17:31

I remain really ambivalent about this project, it has a fortress like quality that I don't think translates to rental, at least without a street life component that kind of justifies the compound feeling like say the Ritz.

I just don't understand the market, so many units, rental only, it will have to demand some of the highest rents in Dallas despite its meh location which will demand high security. I don't they can have it both ways, either it becomes a secure compound that does nothing for the street life and commands the rents they need from very affluent downtown workers or they have to have affordable rents and cut corners. And if you are going to live in a very expensive compound why not just move to Uptown or Victory?

lakewoodhobo
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Re: Downtown: The Drever

Postby lakewoodhobo » 13 Nov 2016 19:32

John, I think part of the appeal is going to be this mixed-use middle-of-the-city (Elm and Akard) lifestyle that you can't even get in Uptown. Having lived in the Kirby