Las Colinas/North Irving Development

[flyswatter]

In a time where oil is cheap, I'm sure selling the property and moving would yield quick capital for them as well as consolidation of workforce.

[Tucy]

I wonder if a move to Houston is getting some thought, too.

That's the elephant in the room, isn't it?

[Kelley USA]

I wonder if a move to Houston is getting some thought, too.

That's always possible. I've never really understood the thought of having only a few hundred employees in Irving while you have 10K employees in Houston. I know their culture has always been to keep upper management separate from all the worker bees though. ExxonMobil is making a massive $30 billion expansion in West Texas, so obviously Irving would be significantly closer to what's going on out that way. Who knows though! I think there's been speculation for awhile about them leaving.

Would be a loss for sure, but it's also not like EM has been a big corporate presence here. They have a gated compound, subtle signage, employees scarcely come and go. Can't think of anything they've really done to give back to Irving / Las Colinas. They have 100 acres surrounding their property. Would have been cool had they turned it all into walking / nature trails etc... ExxonMobil Park would have been cool!

**UPDATE** The Irving P&Z denied the request to change the zoning. Most on the P&Z saw residential use as the best option, plus seeing as there was no forthcoming plan for the property they didn't see much need to change the zoning now. If someone wants to come forward with an actual commercial plan they'll reconsider the change then.

[ContriveDallasite]

Thanks for the update Kelley! I always imagined that land would be great use for a park. Irving really does not have a lot of public green space. Also Las Colinas Boulevard would be suitable for bike lanes as well.

[Kelley USA]

It looks like Boi Na Braza Steakhouse is undergoing a change... It'll now be called BLAZE Brazilian Steakhouse. Not sure if it's a different ownership group, but the signs came down yesterday and new signs should be going up soon.

[TNWE]

It looks like Boi Na Braza Steakhouse is undergoing a change... It'll now be called BLAZE Brazilian Steakhouse. Not sure if it's a different ownership group, but the signs came down yesterday and new signs should be going up soon.

Brazilian steakhouses are pretty interchangeable in my eyes, so as long as they didn't also hike the prices, I don't care what they call it!

[cp14]

Has anyone seen this? The Residences on the 17 and 18 hole of TPC. Its condo complex.

https://www.theresidenceslifestyle.com

Looks like its already under construction. Sucks to be homeowners in Fairway Vista who used to have a view of the course. Was that area originally planned to be residential in the future?

[ContriveDallasite]

Interesting to see the densification going on in Las Colinas.

[Kelley USA]

Has anyone seen this? The Residences on the 17 and 18 hole of TPC. Its condo complex.

https://www.theresidenceslifestyle.com

Looks like its already under construction. Sucks to be homeowners in Fairway Vista who used to have a view of the course. Was that area originally planned to be residential in the future?

Interesting concept! I haven't seen anything come before P&Z or Council pertaining to this project. Looks nice though, good find!

[kwilliam]

Anyone know what is happening across the street from La Villita? The school district building is almost complete, but on the other side of Camino Lago it looks like they are moving a lot of dirt.

[cp14]

CFBISD is building a multipurpose facility across from the elementary school. I saw the dirt moving on the other corner too and was wondering what was going on - I see the land is owned by CFBISD as well, but on their website on the Construction Updates tab I don’t see any other new facility under construction. Couldn’t find anything else when I tried researching it. Maybe just dirt moved across the street from the multipurpose facility site.

https://cfbisd.edu/construction-updates/

[cp14]

Anyone hear about this new development - 250 homes sites and gated? Legends Crossing on Valley Ranch Pkwy with Ashton Woods and Pulte being the builders.

https://centurionamerican.com/community ... -crossing/

https://communityimpact.com/dallas-fort ... r-housing/

[Kelley USA]

According to the City Council Agenda, another Fortune 500 company or an existing Fortune 500 company already in Irving is looking to relocate / expand. There's an agenda item for an Economic Development Incentive which reads:

Impact: Approval of this economic development incentive agreement will assist in the reinvestment of 1925 W. John Carpenter Freeway in order to attract a Fortune 500 Headquarters operations seeking to expand its presence in Irving

The property in question is right next door to McKesson.

[TXGunLover]

According to the City Council Agenda, another Fortune 500 company or an existing Fortune 500 company already in Irving is looking to relocate / expand. There's an agenda item for an Economic Development Incentive which reads:

Impact: Approval of this economic development incentive agreement will assist in the reinvestment of 1925 W. John Carpenter Freeway in order to attract a Fortune 500 Headquarters operations seeking to expand its presence in Irving

The property in question is right next door to McKesson.

Ah, the hardened old BOA building built to withstand a plane impact... our office was there in 1998-2001...

[Kelley USA]

It's a locked article, but more info about the Economic Development Incentives for 1925 John Carpenter Frwy.

https://www.bizjournals.com/dallas/news ... s_headline

[Zmitz]

In exchange for a 75 percent reimbursement of all taxes paid on the building through June 30, 2038, the owner must procure a Fortune 500 tenant to move its headquarters to the building along with meeting a number of other criteria. These criteria include a minimum investment of $30 million in capital improvements, the construction of a 240,000-square-foot parking garage with 1,000 parking spaces and a minimum lease of 240,000 square feet by the company for at least 14 years.

[Tucy]

Directly from the City Council agenda packet:

-- Reimbursement of the net NEW taxes paid through June 30, 2038 (not all taxes).
-- Parking garage must be constructed and Qualified Tenant must occupy the space by December 31, 2023.

-- More information on what is defined as a "Qualified Tenant" and therefore making the building eligible for the incentives
- Tenant must be a Fortune 500 company or an affiliate of a Fortune 500 company whose headquarters operations are in Irving;
- Tenant must operate the leased space as its corporate headquarters or an extension of its existing Irving headquarters operations
- Tenant's primary Business Industry is one of the following: Corporate Headquarters, Corporate Training, Foreign-Based Corporations Software & Information Technology, Telecommunications, Finance & Insurance, Health Care Specialties & Laboratories, Professional Services, Industrial Technology, National Associations.

(That list of acceptable Business Industries is just weird. At least one on the list (National Associations and probably Professional Services) would automatically be disqualified because they could not be a Fortune 500 company.)

All things considered, this looks likely to be new or expansion space for McKesson.

[Kelley USA]

All things considered, this looks likely to be new or expansion space for McKesson.

That was my initial thought as well, but I'm not sure why this would need to be kept under wraps. I mean McKesson is already headquartered here, so I don't think it would be that big of a deal to just say "McKesson is seeking an ED incentive to upgrade and expand their Corporate presence at 1925 John Carpenter Frwy with an additional lease of 400,000 sf".

It could be McKesson Medical Surgical which currently has its headquarters in Richmond, VA. They occupy about 200,000 sf of space. They are an affiliate of McKesson.

[Kelley USA]

The Irving City Council approved the Economic Development Incentives for whatever company may or may not be moving into 1925 W John Carpenter FRWY... While watching the meeting online I did hear general counsel indicate to a city councilman that "the deal has already been consummated". I guess we'll find out the details at some point.

[Tnexster]

Hmmm, wonder who it is?

[Kelley USA]

Something interesting caught my eye on the current City Council agenda... It's listed under Executive Session- something called Project Coast HQ2. Hmmmm….

[Tnexster]

Something interesting caught my eye on the current City Council agenda... It's listed under Executive Session- something called Project Coast HQ2. Hmmmm….

Something is about to happen!

[Tucy]

Something interesting caught my eye on the current City Council agenda... It's listed under Executive Session- something called Project Coast HQ2. Hmmmm….

I hope it wasn't this HQ2: "[*]https://www.bizjournals.com/denver/news/2020/06/23/marqeta-names-denver-hq2.html"

[Kelley USA]

Something interesting caught my eye on the current City Council agenda... It's listed under Executive Session- something called Project Coast HQ2. Hmmmm….

I hope it wasn't this HQ2: "[*]https://www.bizjournals.com/denver/news/2020/06/23/marqeta-names-denver-hq2.html"

Looks like that particular project had the codename "Project Wade". Who knows what this might be. I see codename projects come before council all the time that never come to fruition.

I would love it if this had to do with Verizon opening an HQ2 at their Hidden Ridge development.

[Tucy]

Something interesting caught my eye on the current City Council agenda... It's listed under Executive Session- something called Project Coast HQ2. Hmmmm….

I hope it wasn't this HQ2: "[*]https://www.bizjournals.com/denver/news/2020/06/23/marqeta-names-denver-hq2.html"

Looks like that particular project had the codename "Project Wade". Who knows what this might be. I see codename projects come before council all the time that never come to fruition.

Would a project such as these carry the same code name in every city they are looking at? I would rather think not, as it would make it that much easier to learn who your competition is.

[Kelley USA]

I hope it wasn't this HQ2: "[*]https://www.bizjournals.com/denver/news/2020/06/23/marqeta-names-denver-hq2.html"

Looks like that particular project had the codename "Project Wade". Who knows what this might be. I see codename projects come before council all the time that never come to fruition.

Would a project such as these carry the same code name in every city they are looking at? I would rather think not, as it would make it that much easier to learn who your competition is.

I guess that could be valid! Would seem odd though for them to make a decision without even hearing what incentives the City of Irving / State of TX might offer. On another note, I am fascinated by codenames and how they come about for these projects.

[TNWE]

Something interesting caught my eye on the current City Council agenda... It's listed under Executive Session- something called Project Coast HQ2. Hmmmm….

I hope it wasn't this HQ2: "[*]https://www.bizjournals.com/denver/news/2020/06/23/marqeta-names-denver-hq2.html"

Looks like that particular project had the codename "Project Wade". Who knows what this might be. I see codename projects come before council all the time that never come to fruition.

I would love it if this had to do with Verizon opening an HQ2 at their Hidden Ridge development.

On a tangential note, I wish the whole "HQ2" trope would go away. With Amazon, it was transparently an attempt to turn their brand cachet into cheaper office space in what was supposed to be a lower cost of living city (which NY/DC are not lol). There's no meaningful difference between a "HQ2" and any other big regional office - it's really just a flimsy pretext for saying "we want to move our corporate operations to Texas (or some other low-tax southern state), but we don't want to anger our costal workforce and/or customer base who thinks Texas has mandatory KKK rallies and gays are shot on sight, so we'll say the 'real' HQ is still in Seattle/SF/NYC"

[CTroyMathis]

Also, just google "Project Coast". Homework first even if it seems a no-brainer/simple harmless title. Always check, just in case. Like spell-check, with about an extra 4 seconds to read the headers that appear.

Back on it, though, I'll play and say maybe it's energy-related.

[tamtagon]

Tesla?

[Tucy]

Also, just google "Project Coast". Homework first even if it seems a no-brainer/simple harmless title. Always check, just in case. Like spell-check, with about an extra 4 seconds to read the headers that appear.

Back on it, though, I'll play and say maybe it's energy-related.

Following your google strategy, maybe it's a biological weapons company.

[Kelley USA]

Looks like Northland Properties is moving forward with the first of their 2 hotels in the Star Park project. It'll be a 6 story hotel with an attached restaurant. Most likely this will the Sandman Signature Hotel with an attached Moxie's (just like what they did in Plano).

[lwtx]

Listened in on the monthly DCURD meeting recently (they’re conducting it virtually now, like everyone else) and was interested to hear updates on a couple of items in the Urban Center.

Apparently the rework of the plaza in front of Williams Square is still underway. They said the funding is already approved, and the design is currently being refined to fit within that funding. Glad it’s still in the works.

Also, they approved an exclusive use agreement with the owner of the restaurant on Mandalay Canal to add kiosks and other retail opportunities elsewhere along the canal. The first item promised is a gelato cart.

And a small note, the property across Lake Caroline north of Williams Square is slated to undergo reconstruction of the retaining wall along the lake. A large footprint was approved for the contractor’s staging area, so it will probably look like some significant new development but it’s only maintenance.

At least things are still progressing during the pandemic.

[TNWE]

Any word on upgrades to the APM system? I seem to recall some rumblings late last year about a request for proposal going out to overhaul/automate/replace the people mover system.

[lwtx]

No updates during this meeting, though the topic appears to be a standing item an their agenda... maybe only when there are specific updates to report/discuss.

[Kelley USA]

Well now we know the Fortune 500 company moving into 1925 W John Carpenter FRWY. Vistra Energy is relocating the space, so just a move within the Las Colinas area. I'm glad to see someone take this building though. I've always liked it!

https://www.dallasnews.com/business/rea ... -location/

[TNWE]

Well now we know the Fortune 500 company moving into 1925 W John Carpenter FRWY. Vistra Energy is relocating the space, so just a move within the Las Colinas area. I'm glad to see someone take this building though. I've always liked it!

https://www.dallasnews.com/business/rea ... -location/

Interesting - they *massively* downsized office space in 2016 as they emerged from Bankruptcy. They had about 20 floors scattered around Energy Plaza housing corporate functions (Finance, HR, IT, Legal) and the Luminant generation and energy trading operations. Post bankruptcy, they moved almost everyone to the TXU Energy office on Sierra Drive, which needed renovations to accommodate the added staff (I think they had some functions move to rented office space on the south frontage of 114 as well, and the "command centers" for plant operations and energy trading remained at Energy plaza for at least some time longer).

I assume this move will finally bring the whole company back under one roof, although the timing with COVID means it may take a little longer than planned.

[Tucy]

Looks like they will be occupying about the same total square footage, in one location rather than two (or more).

[TXGunLover]

Looks like they will be occupying about the same total square footage, in one location rather than two (or more).

It's a building with massive infrastructure... airplane resistent structure, hundreds of thousands of gallons of diesel fuel and water storage underground... It was built as a 90's datacenter after the Delta windshear crash... I wonder if they're using any of that infrastructure.

[TNWE]

Looks like they will be occupying about the same total square footage, in one location rather than two (or more).

It's a building with massive infrastructure... airplane resistent structure, hundreds of thousands of gallons of diesel fuel and water storage underground... It was built as a 90's datacenter after the Delta windshear crash... I wonder if they're using any of that infrastructure.

Yeah, that's a perfect site for an electric utility company that absolutely can't lose business continuity. Energy Plaza had a giant V-12 backup generator (don't remember the kW rating, I just got a peek at it while working a construction project there and it was at least 8' from the floor to the top of the cylinder heads) that could fully supply their power plant command center, the emergency operations war room, and the energy trading floor, as well as the usual emergency lights and building safety systems. In the event of a massive blizzard icing over all of Dallas, the core staff could basically live in the building for like 3 days on the generator and manage the plants/power grid in coordination with Oncor up the street (they have a similar setup in their building off Woodall Rogers, but before they were legally separated from the rest of the old TXU, they were also in Energy Plaza, hence the massiveness of the backup generator).

[TXGunLover]

Looks like they will be occupying about the same total square footage, in one location rather than two (or more).

It's a building with massive infrastructure... airplane resistent structure, hundreds of thousands of gallons of diesel fuel and water storage underground... It was built as a 90's datacenter after the Delta windshear crash... I wonder if they're using any of that infrastructure.

Yeah, that's a perfect site for an electric utility company that absolutely can't lose business continuity. Energy Plaza had a giant V-12 backup generator (don't remember the kW rating, I just got a peek at it while working a construction project there and it was at least 8' from the floor to the top of the cylinder heads) that could fully supply their power plant command center, the emergency operations war room, and the energy trading floor, as well as the usual emergency lights and building safety systems. In the event of a massive blizzard icing over all of Dallas, the core staff could basically live in the building for like 3 days on the generator and manage the plants/power grid in coordination with Oncor up the street (they have a similar setup in their building off Woodall Rogers, but before they were legally separated from the rest of the old TXU, they were also in Energy Plaza, hence the massiveness of the backup generator).

I wonder if the "god pod" is still up on the top east side floor... the executive offices from when BOA was in the building had fridges, bidets, showers, tubs, and full wet bars in the offices.

[Kelley USA]

ExxonMobil has officially put one of their tracts up for sale. Drove by last night and saw a For Sale sign for about 36 acres, listed by JLL.

[Kelley USA]

Not too much going on in Las Colinas lately... Most of what I've been seeing is related to the opening / closing of restaurants. A few notes:

Star Park: Construction is moving along nicely. Several of the the buildings have gone vertical. Looks like Velvet Taco, Starbucks and Parry's Pizza are still committed to the project. No new announcements to speak of

Water Street: Over the weekend both El Famoso and Olivella's Pizza closed down. They were hauling stuff out of both locations. Not really a surprise to be honest. Liked Olivella's, didn't love it, and always thought El Famoso was terrible.

Other notes... Blaze Pizza is opening on MacArthur down from Gap and next to Freebirds. Sauce Pizza closed. Hated to see that. Place was really great! Also, Modern Market near Whole Foods will not be renewing their lease. The space is already being marketed. Jam & Toast has added a 2nd location and has taken over the space vacated by Smashburger at Las Colinas Village.

[vman]

N

Other notes... Blaze Pizza is opening on MacArthur down from Gap and next to Freebirds. Sauce Pizza closed. Hated to see that. Place was really great! Also, Modern Market near Whole Foods will not be renewing their lease. The space is already being marketed. Jam & Toast has added a 2nd location and has taken over the space vacated by Smashburger at Las Colinas Village.

I guess Jam & Toast is doing well, which is great because the food and service there has been excellent every time I've gone there. I still hated seeing Smashburger go though. I didn't care for Modern Market, hopefully something decent takes it place. I've said before, I'm not impressed by the retail/dining selection in this Whole Foods anchored shopping center. I wonder how long Zoe's will be there. I say this because it never seems particular busy and I've seen two vacated locations recently while driving around the metroplex. One was around Keller, can't remember where I saw the other one.

[muncien]

I look forward to what comes into that little El Famoso place... I always thought it was a cool little place to chill, but couldn't get myself to go there because of... well... El Famoso. lol

[Kelley USA]

I'm not sure how much stock I put into this development actually getting off the ground, but the Skypass Group is proposing a 10 acre mixed-use development on Las Colinas Blvd directly across from the new Levy Event Plaza Park. This is development has been rumored to include a Conrad Hotel by Hilton.

Signs were recently put up at the property and a website was recently created (although it doesn't have any info just yet). http://mandalayfalls.com/

For property reference here's some information from several years ago back when Transwestern was selling the property: https://transwestern.com/property/mandalay-falls

[northsouth]

There was some discussion in the DART thread about it - the construction costs came in higher than estimated, and Irving needed some extra time to get the cash together.

The estimate for this station is totally ridiculous when you consider that the foundations and footings for the station were built with the original line, and the original steel was already procured. Does this have something to do with the rusting heap of metal next to the track split by Bachman station? Did DART's inability to shelter that steel make it unusable and contribute to the cost increase?
For years I have been staring at that pile of rusting steel and it was eating away at me as to why DART projects cost so much... This seems to be a great example.
Don't get me wrong... I'm really glad we are finally getting this station. But, it just infuriates me how wasteful people are with other peoples money.

Aside from the metal sitting outside for years, there's an issue of station design. The old renderings from before it was deferred showed the station as having barrel-vaulted canopies, like North Lake College or Irving Convention Center stations nearby. However, if they were to use those parts now, construction would require extended shutdown of trains to allow for placement of the canopies over the tracks and overhead wires, something that would not be an issue if the station was built before the line opened. Switching to small canopies would prevent this; thus why they were used at Lake Highlands. I haven't seen any new renderings of the station, but I have to imagine they won't be using the old parts.

https://www.dart.org/about/board/boarda ... 6oct20.pdf
Well it looks like they're going to use the old canopy parts after all. Definitely cheaper than manufacturing new parts. Expect some weekend shutdowns of that section of the Orange Line this fall/winter.

[Kelley USA]

Unfortunately the Hidden Ridge development appears to be stalled, and probably for quite some time. The Carpenter Ranch Station will get very little use for at least a few years. I guess it'll still be nice to have it done though!

[Kelley USA]

On another note, the Paws Colinas Dog Park is getting underway. It'll be right on California Crossing and run up against the Campion Trail. Looks like it'll be pretty big!

The Levy Event Plaza Park on Lake Carolyn is wrapping up. Honestly, what a missed opportunity here. It offers very little, and IMO cheaply done and poorly designed. Could have been so much more!

[ignition]

The Levy Event Plaza Park on Lake Carolyn is wrapping up. Honestly, what a missed opportunity here. It offers very little, and IMO cheaply done and poorly designed. Could have been so much more!

I'm surprised they're even bothering to open it anytime soon given the road construction that seems to be never-ending on that stretch of LCB.

[Kelley USA]

The development plan at the entrance to the Urban Center (114, O'Connor, Las Colinas Blvd) has changed. They are coming before P&Z and removing the 4 hotel concept and instead asking to build a 15 story office tower. The developers are still keeping the original office component, which is a 4 story office building on the canal closest to 114. They are also seeking to build a 10 story parking garage to accommodate workers in both office buildings. No renderings available yet, just a site plan. I do prefer an office component over 4 new hotels!