“We’re getting tremendous new restaurants coming in from outside the city, and most of that is because of Dallas’ elevation in the national scene, because we’re growing at a ridiculous rate,” Gosnell added.
Cost isn’t deterring restaurateurs looking for space. Commercial real estate data firm Xceligent reported that while most prices are negotiable, they typically run between $17.58 to $26.16 per square foot. Gosnell has seen spaces lease for up to $35 to $40 per square foot.
But that’s still a bargain compared to nearby Uptown, where prices can range up to $60 per square foot.
Downtown’s density also means tenants have to pay less in ad valorem taxes, or taxes based on the value of a transaction or property.
“When you have a tremendously dense zone piece, the ad valorem taxes are much lower, because you have more square footage to absorb the tax bill,” Gosnell added.
Currently, the hottest spots in downtown include an area bracketed by Main Street Garden Park and Belo Park, with streets like Commerce, Main and Elm running in between.
The revitalization of AT&T Plaza, the Farmers Market and the West End are also attracting new tenants.
Forty Five Ten is sparking a bit of a renaissance downtown. How does Le Labo hope to factor into that?
We bring our craft to this neighborhood, the same way we do in Venice, New York’s West Village, Shoreditch in London, and more. Though we don’t think so much in neighborhoods (we are not a traditional retailer in that sense), our followers will find a way to get to us wherever we are, and that’s our own little luxury.
This year , besides the two Fort Worth restaurants, in March, Hoque expects to open Oven and Cellar, his twist on Neapolitan pizza, on Main in his downtown Dallas cluster. And later in the spring, he plans on opening Farmer’s Commons, a bakery and “farm to table” restaurant in the Mercantile Building at Main and Ervay Street.
What we’re REALLY excited about, though, is what is coming in 2017. We’ve spent the last few weeks plotting out our BRAND NEW location in the Dallas Farmer’s Market. Jason and I have been dreaming of a Dallas location since the beginning and can’t believe the time has finally come to start planning and building. So, if you stop into the Farmer’s Market within the next few months and hear some commotion going on at the new location, give us a wave! We’ll be busy bringing Urban Farmhouse to Texas and we can’t wait for you to experience it in the summer of 2017.
Jasimm wrote:This falls slightly out of the typical downtown area, but in uptown at the cross of Farimount and McKinney (forgive me I cannot recall the address number) I passed by and noticed a Patagonia advertisement in this vacant building. I do go to this side of uptown frequently, but does anyone know if this has been here a while? Or if Patagonia might finally be setting up it's first Dallas store?
ArtVandelay wrote:Has the Jos. A Bank in DP&L closed yet? Word is that space is available Feb. 1
Also - Chase Bank at Main and Akard is closing soon.
Jbarn wrote:It seems like every time we take a step forward with retail downtown, we take a step back. We never seem to be able to get over that hump. I am amazed that those high-priced stores on Main are still in business. I suspect Headington is heavily subsidizing them. The majority of folks who work downtown are suburbanites, they have no desire to shop down there, they want to go to work, eat at their desks, and then flee the city as quickly as they can when their shift ends. And it seems the folks that live down there still for the most part maintain their suburban ways as the streets are typically pretty empty considering there are 150k people in downtown on a typical day. Maybe we just need to come to terms with the fact that our downtown will never be the retail hub that it used to be. We should focus on uptown as our new downtown and make downtown our business district.
cowboyeagle05 wrote:My focus has always been making Downtown a neighborhood now a retail destination. Headington has other ideas, though. He wants to surround his properties with more luxury destinations and that can be at odds with the Downtown neighborhood direction.
LongonBigD wrote:I have never had the impression that the very expensive retailers in downtown Dallas were intended to be marketed to/shopped by office workers or local residents even. I always assumed they were there for the tourists (both international and from both East and West Texas) ... If you can afford and are accustomed to the offerings sold here, once you return to Midland or Tyler, the merchandise at your local Belk just won't cut it.
LongonBigD wrote:Jbarn wrote:I have never had the impression that the very expensive retailers in downtown Dallas were intended to be marketed to/shopped by office workers or local residents even. I always assumed they were there for the tourists (both international and from both East and West Texas) who fill up the hotel rooms which are not filled by conventioneers. I worked at NorthPark many years ago and a very large contingent of customers were international tourists who had been bussed to the mall by hotels like Aldophus, etc back in the day. This tradition probably continues via Uber or car service today from the boutique hotels downtown. In addition, I have always assumed most of these retailers business comes from 'private' shoppers and mail order. These tourists would continue to buy even after they return home. If you can afford and are accustomed to the offerings sold here, once you return to Midland or Tyler, the merchandise at your local Belk just won't cut it.
Tivo_Kenevil wrote:What's up with the Elm Street cooridor rehab project? I saw activity this morning at the site...
It seems like this project has been going on for years ...When is it supposed to be done?
Tnexster wrote:Okay......how would that happen?
muncien wrote:O bar used to have a great basement setup and did solid business back in the day. I know what is there now is far better, but it was sad to see it go.
Who is it that is supposed to be in the basement of Elm Street Fire Corridor? Was it the Londoner? Is that still in the mix?
Last I checked they were to opensmdg109 wrote:Side note: I noticed all the Fireside Pies signage has been removed from the Commerce St location. The space looks like it's ready to be finished up. Is FP still moving in?