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Davis Building

lakewoodhobo
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Davis Building

Postby lakewoodhobo » 12 Jan 2017 09:13

Image

What first seemed like your typical multifamily transaction turned out to be a lot more interesting. Headington Co. is the new owner of the Davis Building, and it begs the question of how does the acquisition fit into his vision for upscale hotel and retail along Main Street. And since the purchase includes the parking garage on Elm, you can safely assume that the Subway, Sushi Ya, Dry Cleaners and Enchilada's aren't long for this world.

Oilman Headington adds to Main Street holdings
http://www.dallasnews.com/business/real ... t-holdings

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vman
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Re: Davis Building

Postby vman » 12 Jan 2017 09:32

^^^
None of those retailers would be a big loss, plus that garage and that retail looks awful.

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DBadger
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Re: Davis Building

Postby DBadger » 12 Jan 2017 09:39

That is awesome news. While I am a huge fan of Larry Hamilton and his commitment to downtown development, I always thought he has no concept of what works at street level. Mosaic lagged considerably with scene and am/pm, DP&L street level is a joke, Davis building with its prime location still had issues over the years. Even with the gas lofts street level Agave Azul still there was a just a lot missing to make it work.
I think he should focus on what he is really good at, bringing older buildings to life and completely subcontract any street level to a company with more vision.
Tim Headington understands what works at street level. This will be a great thing for main street.

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muncien
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Re: Davis Building

Postby muncien » 12 Jan 2017 09:44

I can't read the article... Does it mention any specific plans?
"He doesn't know how to use the three seashells..."

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Tivo_Kenevil
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Re: Davis Building

Postby Tivo_Kenevil » 12 Jan 2017 10:39

muncien wrote:I can't read the article... Does it mention any specific plans?


No it basically just says he bought the property

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dukemeredith
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Re: Davis Building

Postby dukemeredith » 12 Jan 2017 13:19

Not only is this promising for Main Street retail, but is potentially fantastic for Elm! Very exciting, and great location -- being directly across from The Drever.

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dd_dweller
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Re: Davis Building

Postby dd_dweller » 12 Jan 2017 13:47

I don't see him keeping the apartments around. Do you think this will eventually become condos? I think the units need an update. I hope frankies stays.

Did the purchase also include the building next door that houses Ravena?

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Tivo_Kenevil
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Re: Davis Building

Postby Tivo_Kenevil » 12 Jan 2017 14:21

I don't know... Although I do appreciate the quality of the Developments that Headington brings...


I cannot forget how he demolished buildings for a pseudo urban high end store that <1% of the Downtown population utilizes.

Who knows what he may do it. If anything it makes me weary...


Although the incredibly ugly garage needs a do over badly. Perhaps Headington actual improves Elm St this time.

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Tivo_Kenevil
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Re: Davis Building

Postby Tivo_Kenevil » 12 Jan 2017 14:22

I hope a he keeps the Davis building as apartments and Builds some Lofts where the garage is.

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muncien
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Re: Davis Building

Postby muncien » 12 Jan 2017 14:29

Preferably, any existing structures get nothing more than cosmetic treatments while the real financial focus is put on his Field/San Jacinto parking lots. But if that were the case, what would be the point of this purchase? I fear that we won't be seeing anything with those lots for quite some time. :(
"He doesn't know how to use the three seashells..."

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dukemeredith
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Re: Davis Building

Postby dukemeredith » 12 Jan 2017 16:10

muncien wrote:Preferably, any existing structures get nothing more than cosmetic treatments while the real financial focus is put on his Field/San Jacinto parking lots. But if that were the case, what would be the point of this purchase? I fear that we won't be seeing anything with those lots for quite some time. :(



I fear the same, but the purchase of the Davis building brings Headington closer to those car park, physically. Eventually he'll want to better-utilize those spaces for the sake of bringing more foot traffic to his other investments on Main and now Elm.

With the Mayflower Building being close to finished, and with The Drever scheduled for next year, I can't imagine those car parks last TOO much longer.

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Cabrio330
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Re: Davis Building

Postby Cabrio330 » 12 Jan 2017 17:20

Tivo_Kenevil wrote:I cannot forget how he demolished buildings for a pseudo urban high end store that <1% of the Downtown population utilizes.


:? Not sure what this is supposed to mean, but I am guessing you haven't been in the store.

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Tivo_Kenevil
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Re: Davis Building

Postby Tivo_Kenevil » 12 Jan 2017 20:18

Cabrio330 wrote:
Tivo_Kenevil wrote:I cannot forget how he demolished buildings for a pseudo urban high end store that <1% of the Downtown population utilizes.


:? Not sure what this is supposed to mean, but I am guessing you haven't been in the store.


Sorry. I such have used a comma. I meant that it's suburban in design, it's not really urban ..Quasi at best. There's a parking lot around back where the art structure is.... And heck no I haven't gone in there, maybe I'm just a normie but I don't know anyone who has gone tbh

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Cabrio330
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Re: Davis Building

Postby Cabrio330 » 13 Jan 2017 08:07

I have been in and it definitely is a high end store. Not for me, but frankly none of Headington's retail is for me. For that matter, very little of Highland Park Village is for me either! But while I don't shop there I can appreciate what he is creating, and I certainly hope it is successful.

I think the Forty Five Ten building turned out well and I don't have any heartburn about the "parking lot" which is really not much more than an entry court, similar to what you might see around Rodeo Drive. Yes, that is not downtown Dallas, but Headington seems smart enough to realize the patrons of his high-end retail require something like that entry court. Were he or other developers to include similar entry courts in multiple locations around Main Street, I might share more of your concern about its appropriateness there. But my guess is Headington expects this one-off (for now) entry court will serve all of his and other downtown retail.

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Jay9398
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Re: Davis Building

Postby Jay9398 » 09 Feb 2018 09:03

A crew is working on the cladding of the Davis building garage on the Elm Street side. Started yesterday and have so far just removed 3 small rectangular sections, so I can't tell what exactly the intent is.

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muncien
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Re: Davis Building

Postby muncien » 09 Feb 2018 13:21

I was just talking to the leasing staff at the Davis building a couple of weeks ago. They're undergoing a big internal renovation now, and something like half the units are vacant because of it. I didn't hear about exterior tweaks, but I guess it wouldn't surprise me.
"He doesn't know how to use the three seashells..."

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dallaz
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Re: Davis Building

Postby dallaz » 29 Mar 2018 12:44

Downtown Dallas' landmark Davis Building gets $45 million redo

https://www.dallasnews.com/business/rea ... llion-redo

Mycon Construction says it's been hired to renovate the 250,000-square-foot residential and retail building at 1309 Main Street over the next 15 months.


The renovation includes upgrades to the retail space in the building and conversion of the 183 loft style apartments into 215 luxury rental units.

lakewoodhobo
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Re: Davis Building

Postby lakewoodhobo » 29 Mar 2018 12:56

^I wonder what the plan is for the retail at the base of the garage. Suppose they will all be replaced with restaurants that source from the Commissary.

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Jay9398
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Re: Davis Building

Postby Jay9398 » 29 Mar 2018 12:58

dallaz wrote:Downtown Dallas' landmark Davis Building gets $45 million redo

https://www.dallasnews.com/business/rea ... llion-redo

Mycon Construction says it's been hired to renovate the 250,000-square-foot residential and retail building at 1309 Main Street over the next 15 months.


The renovation includes upgrades to the retail space in the building and conversion of the 183 loft style apartments into 215 luxury rental units.


They've been letting leases go without renewal for several months now. A friend who lives there told me yesterday everyone remaining in the building got a notice to vacate by 5/31.

cowboyeagle05
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Re: Davis Building

Postby cowboyeagle05 » 29 Mar 2018 13:12

The Davis building garage is the one on Elm with the Subway and Dry Cleaners, right? The article doesn't mention the garage but I wonder if they will ever try to make the garage look any better. Headington is all about appearances so I would put it past him to try to clean up the facade to attract a better tenant to the ground floor spaces.

DPatel304
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Re: Davis Building

Postby DPatel304 » 29 Mar 2018 13:28

I hope they do something to make the garage look nicer. I wonder how feasible it would be to cover the garage with greenery. I don't think I've seen it done in Texas, so maybe we don't have the right climate for it, but that would be an easy way to make the garage look better, add some greenery downtown, and also it wouldn't require any structural work.

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The_Overdog
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Re: Davis Building

Postby The_Overdog » 29 Mar 2018 14:09

and conversion of the 183 loft style apartments into 215 luxury rental units.

Going from 183 to 215 is only 32 extra units - pretty marginal - so this tells me that the owners of the Davis Building feel that any weakness or overbuilding in the downtown rental market is not going to last very long.

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whd3
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Re: Davis Building

Postby whd3 » 06 Nov 2018 07:59

The cupola is gone from the top of the Davis building. Does anyone know why?

Update from R Wilonsky at DMN: "They are replacing it. Got approval from Landmark Commission in May, as part of the $45-million makeover [by Tim Headington]."
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Tivo_Kenevil
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Re: Davis Building

Postby Tivo_Kenevil » 06 Nov 2018 11:08

Replacing with what exactly... Headington drives me nuts with his tearing down.

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Matt777
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Re: Davis Building

Postby Matt777 » 06 Nov 2018 11:22

HOLY SH**. It better be an exact replica. Wow. How could this even happen? For anyone that has ever lived with a Downtown Dallas view, that cupola is a defining feature of our skyline.

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muncien
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Re: Davis Building

Postby muncien » 06 Nov 2018 11:26

Tivo_Kenevil wrote:Replacing with what exactly... Headington drives me nuts with his tearing down.


Another eye-ball... from what I hear.

*** totally kidding - I never heard that ***
"He doesn't know how to use the three seashells..."

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Matt777
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Re: Davis Building

Postby Matt777 » 06 Nov 2018 11:29

Image

Image

UPDATE: Someone on the Downtown facebook says it will be repaired and reassembled. Better be true.

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dukemeredith
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Re: Davis Building

Postby dukemeredith » 06 Nov 2018 12:09

Read the Landmark Commission agenda and minutes for the May 2018 meeting. It’s all in there.

https://dallascityhall.com/government/m ... ssion.aspx

tl;dr: damaged parts to be replaced; non-damaged parts to be cleaned and restored. Will look the same.

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eabner13
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Re: Davis Building

Postby eabner13 » 06 Nov 2018 12:38

great to hear they will be fixing it up. I wonder if that means removing the hot tub or whatever it was they stuck in there...That rooftop (even though the pool was tiny and shallow) was one of the highlights of living in Davis

cowboyeagle05
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Re: Davis Building

Postby cowboyeagle05 » 06 Nov 2018 16:17

The cupola was severely unstable and the support system inside was largely rust at this point. It needed to be majorly rehabbed. Similar to how the Old Red Courthouse clock tower was removed decades ago and only in the last 10 years was reinstalled with a better support system. Weather does some pretty damaging things to clocktowers/cupolas like this.

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Tivo_Kenevil
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Re: Davis Building

Postby Tivo_Kenevil » 08 Nov 2018 21:09

Here's a Glamourus PR article about Headington's investments.

And Some tidbits about Headingtons plans with the Davis bldg.


https://commercialobserver.com/2018/11/ ... companies/

"In Dallas, Headington’s expansion push is far from over. In March, it announced the acquisition of the Davis Building, a 20-story residential building at 1309 Main Street, where it’s planned a $45 million renovation. It’s the firm’s first residential project Downtown—to be renamed Drakestone—and it’s set to open in the spring 2019."

And some extraneous info.

"The firm is also exploring development opportunities just a couple blocks north of Downtown at the intersection of Ross Avenue and Field Street, where it has scooped up 10 acres of development space since 2011. In a nod to Tim Headington’s history in film production, Tregoning said the firm is considering adding a film center, with a museum as well as offices for the local film society, that would host festivals and screenings and production work."

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itsjrd1964
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Re: Davis Building

Postby itsjrd1964 » 08 Nov 2018 22:50

"Drakestone"??

Well, at least we finally know at least some Ross/Field possibilities, instead of just a bunch of disappointment and conjecture.

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Matt777
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Re: Davis Building

Postby Matt777 » 08 Nov 2018 23:47

itsjrd1964 wrote:"Drakestone"??

Well, at least we finally know at least some Ross/Field possibilities, instead of just a bunch of disappointment and conjecture.


Ummmm no. That building is a landmark and its name is The Davis Building. Also, Drakestone sounds really, really stupid.

lakewoodhobo
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Re: Davis Building

Postby lakewoodhobo » 09 Nov 2018 09:24

It's been called the Davis Building since 1954 but sure, let's change the name to something that'll only stick for 10 years or however long it takes to sell it off to someone else.

I'm more annoyed about this than the name change to The Drever since First National Bank had already changed to Elm Place before it became vacant. I get it: his money, whatever, but it still reminds me of people with lots of money who think they're good at marketing.

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Tivo_Kenevil
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Re: Davis Building

Postby Tivo_Kenevil » 09 Nov 2018 10:39

Yeah "Drakestone" is cringey. I don't even know what that is.. when I hear it I envision this....
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cowboyeagle05
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Re: Davis Building

Postby cowboyeagle05 » 09 Nov 2018 11:20

lakewoodhobo wrote:It's been called the Davis Building since 1954 but sure, let's change the name to something that'll only stick for 10 years or however long it takes to sell it off to someone else.

I'm more annoyed about this than the name change to The Drever since First National Bank had already changed to Elm Place before it became vacant. I get it: his money, whatever, but it still reminds me of people with lots of money who think they're good at marketing.


Total agreement with you there.

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Jay9398
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Re: Davis Building

Postby Jay9398 » 10 Nov 2018 15:52

They're re-building the Cupola right now.

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texasstar
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Re: Davis Building

Postby texasstar » 13 Nov 2018 20:49

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