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Downtown Dallas: 508 Young Street (old Dallas Morning News building)

dfwcre8tive
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Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby dfwcre8tive » 08 Dec 2017 13:48

Here's an interesting look at some of the abandoned spaces in the building now that Dallas Morning News has vacated the facility.

Link: https://www.guidelive.com/dallas/2017/1 ... 1508368527

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dallaz
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Re: Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby dallaz » 29 Oct 2018 15:28

Historic Dallas Morning News building sold to developers with track record of big deals

https://www.dallasnews.com/business/rea ... -big-deals

The Dallas Morning News' historic former headquarters building in downtown Dallas is being sold to a partnership that includes the region's biggest commercial builder.
Developer KDC is paying $33 million for the 7.2-acre site at Young and Houston streets. It's partnering with Dallas restaurateur and businessman Mike Hoque in the deal.

Dallas-based KDC has built millions of square feet of suburban office space for companies including Toyota, State Farm Insurance, JPMorgan Chase and Liberty Mutual Insurance.

The pending sale of the vacant office building and surrounding campus comes a year after The News relocated its offices to the historic Dallas Public Library building on Commerce Street downtown.

KDC and partner Hoque Global - who together made a pitch for Amazon's coveted second headquarters on a building site near Dallas City Hall - have signed a contract to acquire the property and are set to close before the end of the year.

The News' former headquarters is next door to the Dallas Convention Center and across the street from the rail transit hub at Union Station.

The News' parent company A.H. Belo Corporation has been hunting a buyer since last year for the 69-year-old newspaper offices and former printing plant building at 508 Young St.

The company talked with several potential buyers before reaching the agreement with KDC and Hoque Global.

"From the standpoint of the city's well being, this is a wonderful outcome," said A.H. Belo CEO Robert Decherd. "These guys know the city, care about the city and are here for the long term.

"Compared to the other scenarios, this is a great win for Dallas," he said. "And our company realizes the proceeds it deserves from its historic investment in this site. "

A.H. Belo previously said it expected to receive at least $30 million for the property.

Dallas architects GFF evaluated the old newspaper headquarters to study how parts of the structure - designed by noted architect George Dahl - could be repurposed in a new development. KDC and Hoque Global have also been working with the architects.

The News property is one of the largest development sites in downtown Dallas with the potential for several million square feet of construction.

"From our perspective, the southwest quadrant is the next part of downtown's evolution," Decherd said.

Officials with KDC and Hoque Global would not talk about the transaction saying they don't comment on pending transactions.

The property purchase will give KDC and Hoque Global almost 30 acres of real estate on downtown's south side, making them one of the largest owners in the central business district.

KDC and Hoque Global hired world-renowned Pelli Clarke Pelli Architects to design a more than 8 million-square-foot development for their 20-acre property on Canton Street near Dallas City Hall.

KDC is just finishing up a 10-story office project in the Epic development in Dallas' Deep Ellum district.

The company is best known for its $1.5 billion mixed-use CityLine project in Richardson. KDC also is a partner in the $3 billion Legacy West development in Plano.

Hoque Global has investments in multiple downtown-area properties. The company has operations in the restaurant, hospitality, event planning, technology, logistics and transportation businesses.
Last edited by dallaz on 29 Oct 2018 15:29, edited 1 time in total.

Tnexster
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Re: Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby Tnexster » 29 Oct 2018 15:41

KDC......lets hope they do something really great with this property. A new high rise on the south rim of downtown would be awesome and anything that would flood that part of downtown with new residents.

DPatel304
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Re: Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby DPatel304 » 29 Oct 2018 15:54

Oh yes! Eager to hear what they have planned for this plot of land.

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Matt777
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Re: Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby Matt777 » 29 Oct 2018 16:34

Exciting news. I just hope they keep the Rock of Truth. Important today, now more than ever!

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joshua.dodd
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Re: Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby joshua.dodd » 29 Oct 2018 18:35

Hopefully, this will incentive the redevelopment of the former Renaissance Arena lot.

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itsjrd1964
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Re: Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby itsjrd1964 » 29 Oct 2018 22:10

joshua.dodd wrote:Hopefully, this will incentive the redevelopment of the former Renaissance Arena lot.


I would guess you mean *Reunion* Arena.

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Tivo_Kenevil
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Re: Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby Tivo_Kenevil » 29 Oct 2018 22:37

itsjrd1964 wrote:
joshua.dodd wrote:Hopefully, this will incentive the redevelopment of the former Renaissance Arena lot.


I would guess you mean *Reunion* Arena.


Does Perot still own that land? A Residential project would be tough there since the area is cut off with Train tracks, an over bearing convention center and old viaducts.

They would definitely need to stitch the area back together to get more cohesion before any project takes off.

I don't think Hillwood (Perot) has the fortitude to pull off a great urban project ... they have a record of sucking ass ..see VP.

Also... Reunion Arena was demolished in 2009 ...was there ever a master plan for this site after the demo?

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joshua.dodd
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Re: Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby joshua.dodd » 29 Oct 2018 23:00

itsjrd1964 wrote:
joshua.dodd wrote:Hopefully, this will incentive the redevelopment of the former Renaissance Arena lot.


I would guess you mean *Reunion* Arena.


That's it.

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tamtagon
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Re: Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby tamtagon » 30 Oct 2018 06:14

I think Hunt's own that land now... like, around the time Hunt got control of Union Station, or shortly after that, they swapped Lot E by the convention center for the former Reunion Arena land.

I think the city still owns Lot E, or it may have be gifted to Matthews Southwest or Texas Central Railroad (MattSouth associate) as part of a office, retail, hotel convention entertainment mixed use complex banking on the high speed rail station.

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muncien
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Re: Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby muncien » 30 Oct 2018 08:20

KDC and partner Hoque Global - who together made a pitch for Amazon's coveted second headquarters on a building site near Dallas City Hall


...close by the end of the year...


...KDC won't comment on pending contracts...


What is the square footage of the existing office building? Hmm....

Maybe I'm reading into this a little too much. But from what I recall, KDC has never been shy about talking about their plans.

:idea: lol
"He doesn't know how to use the three seashells..."

cowboyeagle05
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Re: Downtown Dallas: 508 Young Street (old Dallas Morning News building)

Postby cowboyeagle05 » 30 Oct 2018 10:36

Well, that means Hoque global and KDC have locked up most of the south end of Downtown Dallas. With them owning the land near City Hall and this site they have bookends for the Convention Center. This land makes sense in that its located near mass transit, high-speed rail, highway access.

Makes me wonder do they actually have any real plans or just trying to nail down options for future potentially, possibly, maybe if the wind blows right we could build something there.


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