Dallas Fort Worth Urban Forum

Downtown Progress

cowboyeagle05
Posts: 2315
Joined: 21 Oct 2016 08:45
Location: Dallas

Re: Downtown Progress

Postby cowboyeagle05 » 27 Dec 2018 19:07

The article is an opinion piece written by Kourtney G. from Downtown Dallas Inc. Its merely a cheerleading article meant to just stir up interest from those who may be interested in the work Downtown Dallas Inc is doing. It's just another PR piece for those who don't know the nuts and bolts of what's really going on. I would largely ignore it. There are some positives but she is just doing what Downtown Dallas Inc does which is add a curtain over the details of what's not working and still needs work.
“Growth for the sake of growth is the ideology of the cancer cell”

User avatar
Tivo_Kenevil
Posts: 1540
Joined: 20 Oct 2016 12:24

Re: Downtown Progress

Postby Tivo_Kenevil » 27 Dec 2018 22:18

Downtown needs better sidewalk And more Residential

User avatar
eburress
Posts: 700
Joined: 19 Oct 2016 18:13

Re: Downtown Progress

Postby eburress » 28 Dec 2018 09:48

Indeed, and fewer dead zones.

willyk
Posts: 532
Joined: 18 Oct 2016 20:20

Re: Downtown Progress

Postby willyk » 29 Dec 2018 04:35

I agree—-I think that a lot of downtown land sits idle for decades because it is zoned and priced for 50 story office towers that the market will not support.

The low rise residential in the Farmers Market seems to be doing well. If developers don’t want to be that low, then some 10-12 story residential like City Lights would make for some nice projects that would do well downtown.

As far as retail, I think VP is setting a good example. They are bringing in a good mix of destination restaraunts plus franchises and service businesses that will serve the locals. That would work downtown too.

User avatar
Cbdallas
Posts: 455
Joined: 29 Nov 2016 16:42

Re: Downtown Progress

Postby Cbdallas » 30 Aug 2019 13:12

It is time for Dallas to develop a new plan for urban growth in and around downtown and become the leader for the entire region of this part of the US. Dallas City Center can offer what no suburb or other smaller city can offer the truly dense urban experience.

Similar to this: https://archpaper.com/2019/08/dtla-2040/

lakewoodhobo
Posts: 1139
Joined: 20 Oct 2016 13:49
Location: Elmwood, Oak Cliff

Re: Downtown Progress

Postby lakewoodhobo » 04 Sep 2019 08:03

Cbdallas wrote:It is time for Dallas to develop a new plan for urban growth in and around downtown and become the leader for the entire region of this part of the US. Dallas City Center can offer what no suburb or other smaller city can offer the truly dense urban experience.

Similar to this: https://archpaper.com/2019/08/dtla-2040/


The 2011 Downtown 360 plan was updated in 2017 with a vision that focused on further connecting the core through "Catalytic Development Areas" like the HSR area, the "western Farmers Market" and the "northern West End". This is already happening thanks to public investment in the new parks and private investment in the East Quarter, Uber, etc.

I'd wait to update the plan again until the downtown parks are finished and we know if HSR and Harold Simmons Park move forward or what'll happen with 345. Those three projects are transformative by themselves, and together they would propel downtown to a whole new era. If some or none of them come to fruition by 2022 or 23, then the updated plan should focus on moving forward without them.

willyk
Posts: 532
Joined: 18 Oct 2016 20:20

Re: Downtown Progress

Postby willyk » 21 Sep 2019 03:50

We have a new neighborhood in real estate parlance...”North Downtown

Designed by BOKA Powell, Victory Commons is Hillwood Urban and USAA Real Estate's answer to growing demand for office space in the Uptown and North Downtown Dallas markets


https://www.bisnow.com/dallas-ft-worth/ ... 100898#ath

I45Tex
Posts: 290
Joined: 26 Jan 2017 05:52

Re: Downtown Progress

Postby I45Tex » 21 Sep 2019 16:09

That is the journalist who filed an article this week about how real estate investors are concerned about the DFW market's shrinking margins, alongside an article describing Houston's market as "underrated." I suppose if you don't count as negative margins any of the holding costs of fifty to sixty million empty square feet on the sidelines of their office market, the rates for premium product still look pretty good! Bisnow usage of North Downtown may not indicate very much.

itsjrd1964
Posts: 763
Joined: 28 Jul 2018 07:38

Re: Downtown Progress

Postby itsjrd1964 » 22 Sep 2019 09:23

"North Downtown" sounds about as whatever and made-up as "South Victory". Neither area is really big enough IMO to have any kind of directional adjuncts. It would be as awkward sounding as "West Preston Hollow" or "East Design District".

User avatar
Cord1936
Posts: 263
Joined: 02 Apr 2017 20:43
Location: Design District

Re: Downtown Progress

Postby Cord1936 » 25 Sep 2019 22:31

Economic development campaign video just released by Downtown Dallas Inc.:

https://youtu.be/pvphLk7OWic

Article in D Magazine referencing video's release:

https://www.dmagazine.com/frontburner/2019/09/are-you-ready-to-run-through-a-brick-wall-to-sign-a-lease-in-downtown-dallas/

User avatar
Tivo_Kenevil
Posts: 1540
Joined: 20 Oct 2016 12:24

Re: Downtown Progress

Postby Tivo_Kenevil » 25 Sep 2019 23:48

This video has the background music of some epic battle scene in a movie. I don't get why the chose this.

User avatar
Jbarn
Posts: 116
Joined: 05 Nov 2016 18:58

Re: Downtown Progress

Postby Jbarn » 26 Sep 2019 06:05

16,000 college students, 30 schools, 30 arts and entertainment centers....they must have pushed the downtown boundaries out pretty far.

User avatar
Tivo_Kenevil
Posts: 1540
Joined: 20 Oct 2016 12:24

Re: Downtown Progress

Postby Tivo_Kenevil » 26 Sep 2019 09:24

Jbarn wrote:16,000 college students, 30 schools, 30 arts and entertainment centers....they must have pushed the downtown boundaries out pretty far.


Yeah, it's weird. Because they say 12K residents. Which refers to CBD. But then say 30 schools. Where are these schools exactly?

User avatar
eburress
Posts: 700
Joined: 19 Oct 2016 18:13

Re: Downtown Progress

Postby eburress » 26 Sep 2019 12:33

Tivo_Kenevil wrote:This video has the background music of some epic battle scene in a movie. I don't get why the chose this.


Cool video, but I also thought the score was odd.

User avatar
Tucy
Posts: 696
Joined: 19 Oct 2016 12:50

Re: Downtown Progress

Postby Tucy » 27 Feb 2020 13:50

Transwestern's 4th quarter 2019 office market report.

Dallas CBD has 32.6 million square feet of office space (down from 33.3 million square feet in 2017), 7.4 million of which is vacant (about 100,000 square feet less vacant space than 2017), for an overall vacancy rate of 22.6% (up 0.1% from 2017). 2019 net absorption: 66,055 square feet.

For Class A space, the CBD has 23.9 million square feet (up from 23.4 million square feet in 2017), 6.1 million of which is vacant (200,000 square feet more vacancy than 2017), for a vacancy rate of 25.4 (up 0.2%) from 2017). 2019 net absorption: 73,160 square feet.

Uptown/Turtle Creek has 13.7 million square feet (the same as in 2017), with 2 million vacant (up from 1.4 million vacant in 2017), for an overall vacancy rate of 14.5% (up from 10.6% in 2017). 2019 net absorption: 597,892 square feet.

For Class A space Uptown/Turtle Creek has 11.3 million square feet (up from 10.9 million in 2017), with 1.6 million vacant (up from 1.1 million vacant in 2017), for a 14.2 % vacancy rate (up from 9.7% in 2017). 2019 net absorption: 518,649 square feet.

Combined, our greater downtown area has 46.3 million square feet of office space (down from 47 million in2017), with 9.3 million square feet vacant (up from 8.9 million square feet vacant in 2017), for an overall vacancy rate of 19.2% (up from 19% in 2017). 2019 net absorption: 663,947 square feet.

For Class A space, the greater downtown area has 35.2 million square feet (up from 34.3 million in 2017), with 7.7 million square feet vacant (up from 7.4 million in 2017), for a Class A vacancy rate of 21.9% (up from 21.5% in 2017. 2019 net absorption: 591,8090 square feet.

The front page of the report also includes this interesting note:
Although it is no secret that West Plano and Uptown Dallas rank as
top submarkets for job growth in the country, 2019 marked a tipping point between the two. Forecasts are now indicating that office-using employment growth in the West Plano submarket will remain substantially higher than the Dallas city center and total employment will surpass it by the end of 2024.
West Plano will house over 187,931 office workers by 2025−the same as Uptown/Turtle Creek and Dallas CBD combined

User avatar
dukemeredith
Posts: 307
Joined: 22 Oct 2016 12:17
Location: Downtown Dallas

Re: Downtown Progress

Postby dukemeredith » 27 Feb 2020 15:44

Very insightful. Thanks, Tucy.

User avatar
Tivo_Kenevil
Posts: 1540
Joined: 20 Oct 2016 12:24

Re: Downtown Progress

Postby Tivo_Kenevil » 27 Feb 2020 16:56

Sprawl baby

User avatar
jetnd87
Posts: 134
Joined: 08 Jan 2019 16:00

Re: Downtown Progress

Postby jetnd87 » 27 Feb 2020 20:10

Ugh. Not shocked, but hate to see it

I45Tex
Posts: 290
Joined: 26 Jan 2017 05:52

Re: Downtown Progress

Postby I45Tex » 28 Feb 2020 09:35

The West Plano submarket (which Transwestern calls "Upper Tollway/Legacy") has 30.2 million square feet of office space (plus 1.4 more underway).

On the face of it, it seems off to predict that they are about to house more folks within 31.6 than DT/UT/TC can in 46.3 million existing office with 0.9 more underway. The relative levels of floorplate inefficiency and vacancy, and the amount of additional space that could be completed before 2025, don't begin to make it make sense.

User avatar
mdg109
Posts: 268
Joined: 31 Oct 2016 17:10

Re: Downtown Progress

Postby mdg109 » 10 Apr 2020 12:11

I'm not sure if this is the right thread for this, but I was wondering what the state of downtown will be once we slowly reopen in a month or two. I read the D magazine article on Headington, which is disappointing, but it also leaves me optimistic about what we can do better. I still think more residential and lower-end retail (e.g. Urban Target) would be great, but I'd like to get other's thoughts on what a better downtown could look like post the pandemic.

User avatar
Hannibal Lecter
Posts: 539
Joined: 19 Oct 2016 19:57

Re: Downtown Progress

Postby Hannibal Lecter » 10 Apr 2020 15:31

^ After what's happened in NYC I think you'll find even fewer people will be less interested in the density thing.

User avatar
anon
Posts: 16
Joined: 31 Oct 2016 22:13

Re: Downtown Progress

Postby anon » 10 Apr 2020 20:57

Hannibal Lecter wrote:^ After what's happened in NYC I think you'll find even fewer people will be less interested in the density thing.


That would be unfortunate, especially since the most hard-hit counties in the US are mostly rural or suburban.

User avatar
Hannibal Lecter
Posts: 539
Joined: 19 Oct 2016 19:57

Re: Downtown Progress

Postby Hannibal Lecter » 11 Apr 2020 02:31


User avatar
anon
Posts: 16
Joined: 31 Oct 2016 22:13

Re: Downtown Progress

Postby anon » 11 Apr 2020 03:49

Hannibal Lecter wrote:Simply not true.

https://www.cdc.gov/coronavirus/2019-nc ... in-us.html


Yes, it is. Long Island, Westchester, and Rockland counties all have higher cases per capita than NYC. Blaine County Idaho, Southwestern Georgia, Colorado and rural Lousiana are also being hit especially hard.

User avatar
mdg109
Posts: 268
Joined: 31 Oct 2016 17:10

Re: Downtown Progress

Postby mdg109 » 11 Apr 2020 10:38

The good thing is that we have space to plan for what we want. I doubt we'll ever get to the density level of New York or Tokyo any time soon. But I do understand the fear - I never want to be on a cruise ship ever, tbh. I live in a townhome in lower Greenville, and being quarantined here isn't so bad. I see people in the balconies, the neighborhoods are walkable, and we can pick up takeout from restaurant patios if we want.

Does anyone have info on downtown. Are the restaurants able to stay open delivering to downtown residents?

DPatel304
Posts: 1798
Joined: 19 Oct 2016 18:49
Location: Turtle Creek

Re: Downtown Progress

Postby DPatel304 » 11 Apr 2020 10:55

anon wrote:
Hannibal Lecter wrote:Simply not true.

https://www.cdc.gov/coronavirus/2019-nc ... in-us.html


Yes, it is. Long Island, Westchester, and Rockland counties all have higher cases per capita than NYC. Blaine County Idaho, Southwestern Georgia, Colorado and rural Lousiana are also being hit especially hard.


What sorts of precautions are these rural counties taking compared to NYC?

User avatar
tamtagon
Site Admin
Posts: 1792
Joined: 16 Oct 2016 12:04

Re: Downtown Progress

Postby tamtagon » 11 Apr 2020 12:36

Southwest Georgia was caught off guard, secure in mind and body that the virus would eventually but slowly make it's way to the middle of nowhere; also pretty sure that the virus at its worse was a bad flu. They didn't think it would happen there, but it did.

Anyway, the impact of a virus pandemic on population density will be temporary. Downtown Dallas population will continue to grow.

User avatar
Tucy
Posts: 696
Joined: 19 Oct 2016 12:50

Re: Downtown Progress

Postby Tucy » 21 May 2020 16:23

Transwestern's 1st quarter 2020 office market report.

Dallas CBD
31.1 million square feet of office space (down from 33.3 million in 2017)
7.9 million vacant
Vacancy rate: 25.3% (up 2.8 percentage points from 2017)
1st Q 2020 net absorption: -436,903 square feet.
259,230 square feet under construction.

CBD Class A space
23.9 million square feet (up from 23.4 million in 2017)
6.6 million vacant (700,000 square feet more vacancy than 2017)
Vacancy rate: 27.5% (up 2.3 percentage points from 2017)
1st Q 2020 net absorption: -409,549 square feet.

Uptown/Turtle Creek
15 million square feet (up from 13.7 million 2017)
2.1 million vacant (up from 1.4 million vacant in 2017)
Vacancy rate: 14.3% (up from 10.6% in 2017)
1st Q 2020 net absorption: -186,792 square feet.

Uptown/Turtle Creek Class A space
12.5 million square feet (up from 10.9 million in 2017)
1.8 million vacant (up from 1.1 million vacant in 2017)
Vacancy rate: 14.1% (up from 9.7% in 2017)
1st Q 2020 net absorption: -165,611 square feet.
656,774 square feet under construction.

Greater Downtown area
46.1 million square feet of office space (down from 47 million in 2017)
10 million square feet vacant (up from 8.9 million square feet vacant in 2017)
Vacancy rate: 21.8% (up from 19% in 2017)
1st Q 2020 net absorption: -623,695 square feet
916,004 square feet under construction.

Greater Downtown Class A space
36.4 million square feet (up from 34.3 million in 2017)
8.3 million square feet vacant (up from 7.4 million in 2017)
Vacancy rate: 22.9% (up from 21.5% in 2017
1st Q 2020 net absorption: -575,160 square feet.

Last quarter, Transwestern noted that job growth in the West Plano submarket is substantially higher than in the city center and that office employment in the West Plano submarket is projected to exceed that in the CBD and Uptown/Turtle Creek combined by the end of 2024. So I thought it would be useful to start tracking the Upper Tollway/Legacy submarket:
30.2 million square feet
4.7 Million Square Feet vacant
Vacacny Rate: 15.7%
1st Q 2020 absorption: 80,134 square feet
1.2 million square feet under construction

User avatar
tamtagon
Site Admin
Posts: 1792
Joined: 16 Oct 2016 12:04

Re: Downtown Progress

Postby tamtagon » 21 May 2020 16:57

Thanks Tucy


Who is online

Users browsing this forum: No registered users and 4 guests

cron

Login