Knox District: MSD Capital - Knox/Travis - 28/27/9 stories

[Tivo_Kenevil]

Knox District is plush, lux and absolutely on Brand for Dallas.

[st0760]

So excited about this project, I think it will further cement this area as a crown jewel of Dallas real estate. That said, the quantity of dump trucks and tractor trailers speeding down Knox every 2ish minutes is insane. Can’t believe the city didn’t require them to head down Cole to Fitzhugh or some other option. These roads already barely function for average vehicles, there’s going to be an accident before long

[eburress]

Such a high quality development! I can't wait to see it rise!

[LongonBigD]

They are not messing around. Since the ground breaking announcement the other day, there has been a constant parade of semis hauling dirt away as they dig the hole for the underground parking.

As someone else suggested earlier in the thread, there should be some other traffic pattern for those trucks. They currently enter the site on the south side (Armstrong) and then leave full of dirt on the north side onto Knox Street headed east. What a nightmare on the most walkable street in the city to dodge these trucks as people do their Christmas shopping.

[Tnexster]

They are not messing around. Since the ground breaking announcement the other day, there has been a constant parade of semis hauling dirt away as they dig the hole for the underground parking.

As someone else suggested earlier in the thread, there should be some other traffic pattern for those trucks. They currently enter the site on the south side (Armstrong) and then leave full of dirt on the north side onto Knox Street headed east. What a nightmare on the most walkable street in the city to dodge these trucks as people do their Christmas shopping.

Hope we get some cams!

[undefinedprocess]

They are not messing around. Since the ground breaking announcement the other day, there has been a constant parade of semis hauling dirt away as they dig the hole for the underground parking.

As someone else suggested earlier in the thread, there should be some other traffic pattern for those trucks. They currently enter the site on the south side (Armstrong) and then leave full of dirt on the north side onto Knox Street headed east. What a nightmare on the most walkable street in the city to dodge these trucks as people do their Christmas shopping.

Hope we get some cams!

Agreed! Anyone happen to know the lead construction firm on this project? This would be a fun one to watch rise for sure.

[I45Tex]

Balfour Beatty and Andres Construction

[Tnexster]

Knox Street high-rise project gets underway as Dallas’ most expensive development
The residential, hotel, office and retail complex is underway just east of Highland Park.

https://www.dallasnews.com/business/rea ... velopment/

[Kelley USA]

Easily one of the most exciting developments we've seen around here in awhile. And from an architecture standpoint, it's not a dud like we normally get. Can't wait to see this one completed, and to see what type of tenants they get to fill that 100K sf of retail.

[tamtagon]

Do any of highrises outside of downtown propper charge higher rent for space with a view of downtown?

[Tnexster]

Knox Street high-rise project gets underway as Dallas’ most expensive development
The residential, hotel, office and retail complex is underway just east of Highland Park.

https://www.dallasnews.com/business/rea ... velopment/

I meant to post this comment below which I thought was interesting given how high rise condos don't seem to sell in other areas.

Allie Beth Allman & Associates is the listing agent for the condominium residences, which are already being snapped up by buyers at prices starting near $4.5 million.

“We’ve already sold pretty much all the condos,” said Ray Washburne, managing director of Highland Park Village Associates, which is handling retail leasing for the development.

CBRE Group is leasing the office building.

[Matt777]

The condo website is still pretty sparse. Basically just the form to sign up for information: https://www.theknoxresidences.com/
The condo development will be called The Knox Residences, Auberge Resorts Collection.

However, the branding firm that worked on the condos has some interesting photos of the development in their portfolio:
https://www.kingandpartners.com/work/the-knox/

The earthy, more luxurious, richer design is probably what's driving quicker sales. As well as being in an actually desirable, pedestrian-friendly area.
The slow selling condos in Dallas (Bleu Ciel, Museum Tower) are too stark, modern, and glassy. They seem more Miami than Dallas. And Blue Ciel is not in a vibrant, walkable neighborhood at all.

[eburress]

+10,000 to the notion that this project's success is in large part driven by its desirable location.

[dzh]

Yea I always believed Dallas was a shit city for condos, but I'm starting to think developers might've just been doing them incorrectly this entire time. I think if you're close enough to HP, and you're right on the Katy Trail...it's probably going to be a good sell.

[rono3849]

High rise condo market in Dallas will do best in and around HP for sure. Follow the money.

[Dallas_Uptown]

High rise condo market in Dallas will do best in and around HP for sure. Follow the money.

Correct. Empty-nesters who are downsizing still want to be near friends, family and familiar haunts.

[Matt777]

Raising Cane’s founder buys penthouse atop luxe Knox Street development

https://www.dallasnews.com/business/rea ... velopment/

[jegchachi]

Progress Pic

[Tnexster]

Knox Street project partner invests in luxury hotel firm Auberge Resorts
Michael Dell’s firm is making a bet on the company that’ll operate a boutique hotel in the development.

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

[LongonBigD]

First crane going up just north of the SALON building (Cafe Madrid). One section installed, sections 2 and 3 sitting on trucks on Travis. The hole is not as deep as I would have thought, but not sure if finished digging yet. The hole does take up the entire site, so maybe doesn’t need to be really deep.

[Dtown214]

it will be nice if someone can capture a picture of the hole.

[LongonBigD]

I tried to go up on the Weirs balcony to take a pic, but they were closed. The hole is deep, maybe 4-5 stories (?). It’s hard to judge with just excavators down there. There are three cranes erected now. The single one at Knox and two at Armstrong (south end).

[interestedobserver]

This isn't a fantastic shot, but perspective of the site from The McKenzie by the end of McKinney Ave.

12APR25

[LongonBigD]

A rendering of the Auberge Hotel/condo tower (viewed from the new park looking east?). Appears as the hotel will be the first 8 floors.

IMG_1261.jpeg

A rendering of the pocket park connecting to Katy Trail (on far right).

IMG_1262.jpeg

These and lots more interior renderings of the Auberge resort/condo tower published recently in PaperCity.
https://www.papercitymag.com/culture/au ... as/#508166

Some insight into the condos from the piece:
“Allie Beth Allman & Associates is the listing agent for The Knox Residences, which feature 48 condominiums ranging from 2,500 to more than 15,000 square feet. Buyers are almost all from Dallas — mostly long-time Highland Park and Preston Hollow residents who want to continue to live large within the ease of high-rise living, and they are snapping up multiple units to create homes that are 8,000 square feet or more. Prices start at $4.5 million, with many already fetching eight figures — a record in Dallas for condo sales by a wide margin.”

[Tnexster]

Towering feat: Knox Street Development wins top honors among Best Real Estate Deals

https://www.bizjournals.com/dallas/news ... -knox.html

Nothing really new here, just the award winner.

[eburress]

The hole has gotten VERY deep. There's going to be a ton of parking underneath this project. I wonder if in part they're anticipating the removal of all those surface lots behind Starbucks, Crate & Barrel, Stag, etc.

[R1070]

The hole has gotten VERY deep. There's going to be a ton of parking underneath this project. I wonder if in part they're anticipating the removal of all those surface lots behind Starbucks, Crate & Barrel, Stag, etc.

I imagine so. They were quoted saying the whole street will be lined with new towers at some point.

[Tnexster]

Knox among most expensive streets for office leasing in U.S. as companies flock to vibrant districts
Mixed-use neighborhoods outside cities' central business districts are thriving nationwide

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

The cost to rent an office along the popular Knox Street corridor is now higher than any other street in Dallas and most others nationally, a new report shows.

Knox Street ranks No. 12 among the most expensive streets to rent an office on in the U.S., according to a recent study from commercial real estate firm Jones Lang LaSalle based on year-end 2023 data. The average asking rent for office space on Knox is $79.25 per square foot and the highest on the street is $108, according to JLL.

Renting offices in the buzzing urban environment with shops and restaurants along the Katy Trail comes at a significant premium. It was more than double the Dallas-area office market's average asking rent of about $34 per square foot as of the end of 2023, per JLL data.

This is the street's first appearance on the list, published five times since 2005. Pearl Street and Crescent Court, which JLL includes in its Uptown/Oak Lawn submarket, rank just behind Knox.

[CTroyMathis]

Probably should also note that Knox St. is roughly a less than half-mile-long road.