Dallas Fort Worth Urban Forum

Victory Park 3.0

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maconahey
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Re: Victory Park 3.0

Postby maconahey » 17 Jan 2018 14:36

From the City Plan Commission's agenda for tomorrow:
http://dallascityhall.com/government/me ... EVISED.pdf

CITY PLAN COMMISSION THURSDAY, JANUARY 18, 2018
FILE NUMBER: S178-063 SUBDIVISION ADMINISTRATOR: Paul Nelson
LOCATION: Victory Avenue at All Star Way, east of Stemmons Freeway.
DATE FILED: November 20, 2017 ZONING: PD 582
http://dallascityattorney.com/51P/Artic ... %20582.pdf
CITY COUNCIL DISTRICT: 2 SIZE OF REQUEST: 2.891-Acres MAPSCO: 45-E
APPLICANT/OWNER: Anland North Commercial, LP
REQUEST: An application to replat a 2.891-acre tract of land containing part of Lot 1B in
City Block A/1277 to create one lot on property located on Victory Avenue at All Star Way,
east of Stemmons Freeway.


http://dallascityhall.com/government/me ... 78-063.pdf

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CTroyMathis
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Re: Victory Park 3.0

Postby CTroyMathis » 17 Jan 2018 19:28

I find the old-school rooftop water tank above the DART-station-facing garage a unique touch all things considered. Nice little nod, although I'd love to see a couple of fairly tall ornamental smoke-stacks retro-fitted into a couple of non-diagonal corners of the AAC to really add a nod to history as well (unrelated to this particular project, of course). Think, Battersea Power Station minus two.

Anyway, this project also reminds me of 2011 Cedar Springs building a bit. . .

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Waldozer
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Re: Victory Park 3.0

Postby Waldozer » 21 Jan 2018 00:55

Cbdallas wrote:And now Apple has jumped into HQ2!

http://www.businessinsider.com/apple-bu ... ees-2018-1


Apple has already said they won’t be following Amazon’s long bidding process and they won’t be building HQ2 in Texas.

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mwaskow
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Re: Victory Park 3.0

Postby mwaskow » 22 Jan 2018 16:57

Waldozer wrote:
Cbdallas wrote:And now Apple has jumped into HQ2!

http://www.businessinsider.com/apple-bu ... ees-2018-1


Apple has already said they won’t be following Amazon’s long bidding process and they won’t be building HQ2 in Texas.


Where did you hear or see that??

Tnexster
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Re: Victory Park 3.0

Postby Tnexster » 22 Jan 2018 20:32

^It was all over the news almost as soon as the announcement was made, they said they already have a significant presence in Texas and would not be looking for another location in the state.

lakewoodhobo
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Re: Victory Park 3.0

Postby lakewoodhobo » 01 Feb 2018 15:56

Victory Park retail block to get redo and new tenants
https://www.dallasnews.com/business/rea ... ew-tenants

Investor WRC Advisors bought the retail center in the ground floor of the House condominium tower at Lamar and Houston streets on the northwest corner of downtown.

Part of the property has been empty since the 28-story House condo high-rise was built in 2007.

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R1070
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Re: Victory Park 3.0

Postby R1070 » 02 Feb 2018 21:29

What's going into the retail space?

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Austin55
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Re: Victory Park 3.0

Postby Austin55 » 05 Feb 2018 20:43

Brewed+Pressed going in at Skyhouse

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mdg109
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Re: Victory Park 3.0

Postby mdg109 » 05 Feb 2018 21:47

Nice! I was at VP yesterday afternoon and was surprised at how busy Freshii was. Afterward, I went to Cafe Victoria and it too was pretty steady with customers. VP will be a nice place to spend time at once all the new retail opens.

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tamtagon
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Re: Victory Park 3.0

Postby tamtagon » 05 Feb 2018 21:52

Are there still any apartment complexes under construction in Victory Park?

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ForumFollowsFunction
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Re: Victory Park 3.0

Postby ForumFollowsFunction » 05 Feb 2018 22:10

tamtagon wrote:Are there still any apartment complexes under construction in Victory Park?


I drive past this one almost every day. It’s been topped out for a long time but still not done from what I can tell. Plywood covers all the windows on the south side and there’s still construction equipment on site.

https://the23dallas.com

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nth016
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Re: Victory Park 3.0

Postby nth016 » 06 Feb 2018 12:48

ForumFollowsFunction wrote:
tamtagon wrote:Are there still any apartment complexes under construction in Victory Park?


I drive past this one almost every day. It’s been topped out for a long time but still not done from what I can tell. Plywood covers all the windows on the south side and there’s still construction equipment on site.

https://the23dallas.com


I live next to this site and it looks like they're trying to get the street level infrastructure and sidewalks completed, which makes sense as the website shows the first units being available beginning on the 15th, which is only next week. I also noticed last week that there is a liquor license posting, which I assume is either for Cinepolis or for Mesero.

Unrelated this tower, the retail space across the street at The Vista being completed by Rebees appears to be named "Billy Can Can" and "Hatchways". Also, work appears to have begun on the former Kenichi space.

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willyk
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Re: Victory Park 3.0

Postby willyk » 13 Feb 2018 22:23

I have a friend who lives at Skyhouse. When his lease came up for renewal they unilaterally lowered his rent by $200/mo. I fear weak residential demand in VP until they get all of the retail open.

But the retail seems very slow in coming. They only reason I can see for the delay is perhaps no one really expects the retail to click until the theater opens and starts attracting pedestrian traffic. So I guess the dominos are first the theater traffic, then retail demand and buildout, then residential demand comes on and rents firm up.

DPatel304
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Re: Victory Park 3.0

Postby DPatel304 » 13 Feb 2018 23:37

Sounds about right. The movie theater will be a huge boost for the area, and hopefully, soon after, other retail starts to open.

That's disappointing to hear about Skyhouse lowering rents, but I've always felt Victory Park has been overpriced for quite a while. The residential buildings are definitely super nice, but the district is severely lacking, yet they want to charge prices that are comparable (and sometimes more) than Uptown.

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flyswatter
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Re: Victory Park 3.0

Postby flyswatter » 13 Feb 2018 23:58

DPatel304 wrote:That's disappointing to hear about Skyhouse lowering rents, but I've always felt Victory Park has been overpriced for quite a while. The residential buildings are definitely super nice, but the district is severely lacking, yet they want to charge prices that are comparable (and sometimes more) than Uptown.


I loved Skyhouse when I toured it a few years ago but thought the square footage was nowhere worth the rent they were demanding. When I saw they offered a lower rate to willyk's friend I went online to see if they were more reasonable...nope still $1575 for a 681 sq ft 1 bedroom apt. I can live in Miro with an extra 100 sq ft for about the same price. IMO Victory Park shouldn't be demanding uptown prices (yet).

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Kelley USA
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Re: Victory Park 3.0

Postby Kelley USA » 14 Feb 2018 09:16

I guess I haven't checked Uptown apartment pricing lately... Those prices are comparable to the Urban Center in Las Colinas. New 1 bedroom apartments are going for $1500+. I think the 2 best additions for VP will be the movie theatre and Mesero's to get people coming down.

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The_Overdog
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Re: Victory Park 3.0

Postby The_Overdog » 14 Feb 2018 10:44

That's disappointing to hear about Skyhouse lowering rents, but I've always felt Victory Park has been overpriced for quite a while.

It's not disappointing at all - it's great. The margins on apartment towers are not so tight that lowered rents will hold back development, and money in renters' pockets means they will spend on other things, and one could assume they would also be spending in Victory Park.

Of course vacancy could become a problem, but by all reports so far, DFW apartment vacancy numbers are very low.

DPatel304
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Re: Victory Park 3.0

Postby DPatel304 » 14 Feb 2018 11:19

The_Overdog wrote:
That's disappointing to hear about Skyhouse lowering rents, but I've always felt Victory Park has been overpriced for quite a while.

It's not disappointing at all - it's great. The margins on apartment towers are not so tight that lowered rents will hold back development, and money in renters' pockets means they will spend on other things, and one could assume they would also be spending in Victory Park.

Of course vacancy could become a problem, but by all reports so far, DFW apartment vacancy numbers are very low.


If this is the only instance of lowered demand/rents, then, yes, I guess it's not too concerning. I know DFW apartment vacancy numbers have been low, but what about the urban core? Genuinely curious because it's a relatively newish area and over the past few years there has been a ton of new apartments built.

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The_Overdog
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Re: Victory Park 3.0

Postby The_Overdog » 14 Feb 2018 13:38

I know DFW apartment vacancy numbers have been low, but what about the urban core?


The urban core numbers are fine.

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scott2
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Re: Victory Park 3.0

Postby scott2 » 14 Feb 2018 21:16

Still the problem is that rents are much higher than what it costs to buy a house in Dallas. I bought a nice house in Casa Linda last year. I pay almost half of what a rent on a high rise in Uptown or Victory costs. I realize many folks would prefer to rent depending on their personal financial situation.....but I found it crazy to pay rent on an apartment when you can buy something. Makes no sense. just me.

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dukemeredith
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Re: Victory Park 3.0

Postby dukemeredith » 14 Feb 2018 23:15

scott2 wrote:Still the problem is that rents are much higher than what it costs to buy a house in Dallas. I bought a nice house in Casa Linda last year. I pay almost half of what a rent on a high rise in Uptown or Victory costs. I realize many folks would prefer to rent depending on their personal financial situation.....but I found it crazy to pay rent on an apartment when you can buy something. Makes no sense. just me.



While I have not looked at homes in Casa Linda, my experience has been exactly the opposite of yours. I rent downtown and can walk to work, which has spoiled me a bit. As such, I cannot imagine having a commute greater than 20 minutes or so.

Purchasing a home of comparable size and quality to my 2 bedroom apartment, and in a good neighborhood within 20 minutes of my office, would easily cost several hundred dollars more per month than my current rent. This is, of course, after factoring in property taxes.

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tanzoak
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Re: Victory Park 3.0

Postby tanzoak » 15 Feb 2018 01:44

The_Overdog wrote:
That's disappointing to hear about Skyhouse lowering rents, but I've always felt Victory Park has been overpriced for quite a while.

It's not disappointing at all - it's great. The margins on apartment towers are not so tight that lowered rents will hold back development, and money in renters' pockets means they will spend on other things, and one could assume they would also be spending in Victory Park.

Of course vacancy could become a problem, but by all reports so far, DFW apartment vacancy numbers are very low.


Lol seriously. Damn. Greetings from the Bay Area.. lower rents due to a supply glut are a wonderful thing, and I wish that could happen here! Trying to allow that to happen is legit one of the biggest political issues here.

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vman
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Re: Victory Park 3.0

Postby vman » 15 Feb 2018 07:19

dukemeredith wrote:
scott2 wrote:Still the problem is that rents are much higher than what it costs to buy a house in Dallas. I bought a nice house in Casa Linda last year. I pay almost half of what a rent on a high rise in Uptown or Victory costs. I realize many folks would prefer to rent depending on their personal financial situation.....but I found it crazy to pay rent on an apartment when you can buy something. Makes no sense. just me.



While I have not looked at homes in Casa Linda, my experience has been exactly the opposite of yours. I rent downtown and can walk to work, which has spoiled me a bit. As such, I cannot imagine having a commute greater than 20 minutes or so.

Purchasing a home of comparable size and quality to my 2 bedroom apartment, and in a good neighborhood within 20 minutes of my office, would easily cost several hundred dollars more per month than my current rent. This is, of course, after factoring in property taxes.

I moved from downtown almost five years ago and purchased an older townhome in Las Colinas and it did indeed save me more money than what I was paying for rent. However, I purchased my home for less than half of my max mortgage limit and put down a pretty good down payment. If I wanted to purchase a home somewhat comparable to a downtown apartment within the "urban loop" now..factoring in the down payment, price of homes in good areas, maintenance, amenities (not to mention any renovations), I think renting is a better option for a lot of people.

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dallaz
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Re: Victory Park 3.0

Postby dallaz » 19 Feb 2018 15:21

Developer pitching new office project in Dallas' Victory Park

https://www.dallasnews.com/business/rea ... ctory-park


Developers in Dallas' Victory Park have just built four new apartment towers, a movie theater and additional retail.

Now an office tower is also in the works for the district on the northwest corner of downtown.
Developer Hillwood Urban is hunting tenants for a 15-story, 350,000-square-foot office that would be built next door to DART's Victory Park rail station.


"There is a lot of interest in that building since it sits right next to the DART station," said Mike Berry, president of Hillwood Properties. "We want it to have a cool, techy feel."


"More potential tenants are looking it at because of the tightness of the Uptown market," Berry said.

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f4shionablecha0s
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Re: Victory Park 3.0

Postby f4shionablecha0s » 19 Feb 2018 17:01

dallaz wrote:Developer pitching new office project in Dallas' Victory Park

https://www.dallasnews.com/business/rea ... ctory-park


Developers in Dallas' Victory Park have just built four new apartment towers, a movie theater and additional retail.

Now an office tower is also in the works for the district on the northwest corner of downtown.
Developer Hillwood Urban is hunting tenants for a 15-story, 350,000-square-foot office that would be built next door to DART's Victory Park rail station.


"There is a lot of interest in that building since it sits right next to the DART station," said Mike Berry, president of Hillwood Properties. "We want it to have a cool, techy feel."


"More potential tenants are looking it at because of the tightness of the Uptown market," Berry said.

Newsflash: Developer willing to construct building if tenants are willing to rent it.

Can I have Steve Brown's job when he dies?

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Dallas12
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Re: Victory Park 3.0

Postby Dallas12 » 19 Feb 2018 17:41

f4shionablecha0s wrote:
dallaz wrote:Developer pitching new office project in Dallas' Victory Park

https://www.dallasnews.com/business/rea ... ctory-park


Developers in Dallas' Victory Park have just built four new apartment towers, a movie theater and additional retail.

Now an office tower is also in the works for the district on the northwest corner of downtown.
Developer Hillwood Urban is hunting tenants for a 15-story, 350,000-square-foot office that would be built next door to DART's Victory Park rail station.


"There is a lot of interest in that building since it sits right next to the DART station," said Mike Berry, president of Hillwood Properties. "We want it to have a cool, techy feel."


"More potential tenants are looking it at because of the tightness of the Uptown market," Berry said.

Newsflash: Developer willing to construct building if tenants are willing to rent it.

Can I have Steve Brown's job when he dies?

Not sure what you are getting at exactly? Steve is a real estate columnist that reports on real estate news.

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tamtagon
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Re: Victory Park 3.0

Postby tamtagon » 19 Feb 2018 19:22

how about a 100 story building, shesh

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Dtown214
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Re: Victory Park 3.0

Postby Dtown214 » 19 Feb 2018 23:05

^At least make it in the mid-20 stories but will take anything than a parking lot


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