Dallas Development News - Page 7

rantanamo · May 14th, 2005, 03:23 AM

"Gold shovel time

More than a year after announcing the project, Crescent Real Estate Equities and the Ritz-Carlton Hotel Co. are breaking ground on the Ritz-Carlton Dallas and the Residences at the Ritz-Carlton at McKinney Avenue and Pearl Street.

Workers have been busy in the last week putting up the construction fence, and construction is set to start on May 25.

At a morning ceremony, there will be a tent, speeches, golden shovels and all the other required accoutrements of a Dallas groundbreaking. "

09:25 PM CDT on Thursday, May 12, 2005
http://www.dallasnews.com/sharedcon...l.a0780845.html

CTroyMathis · May 14th, 2005, 08:47 PM

14May05 u/c photo by WestTexan:

rantanamo · May 15th, 2005, 01:32 AM

some others by WestTexan and Tnekster

Westcoaster · May 15th, 2005, 07:22 AM

I lived in Dallas for 8 years, but left nearly 4 years ago. I'm not sure I'd recognize the place anymore. Great job on showcasing the city through photography. Are there any threads that feature D/FW Airport's construction of the new terminal and train system? There's so much going on at D/FW and since the airport doesn't seem to care about updating their web pages with current photos, I thought I'd check here.

rantanamo · May 15th, 2005, 10:42 PM

I'll try to find as much as I can, but the pics on the web site are pretty good. Most of the work going on is probably inside now. We'll get better looks over the summer as things open up.

CTroyMathis · May 21st, 2005, 05:23 PM

New project not far away from the Hyatt Classic Residences @ Turtle Creek condo tower project.

-------------------------------------

Condos are strictly for seniors
http://www.dallasnews.com/sharedcont....ca366ee0.html
Project will offer dining, fitness facilities, allow residents 60 and older
11:30 PM CDT on Friday, May 20, 2005
By STEVE BROWN / The Dallas Morning News
A Turtle Creek condo project is taking senior living to a new level.

A 23-story tower at Hall and Sale streets will be condos for residents 60 and older.

Virginia-based Sunrise Senior Living Inc. said Thursday that it will begin construction later this year on the 140-unit project.

"We believe it is going to start in the low to mid-$300,000s for the one-bedrooms and go all the way up to $1 million," said Sunrise spokesman Jamison Gosselin.

Located across from Lee Park and a block from Turtle Creek, the 350,000-square-foot project will include fine and casual dining, a fitness facility, an indoor pool, activity rooms and a luxury spa.

And two floors of the building will be dedicated to units for residents needing assisted living.

"This is going to be another choice for seniors to select from the many options in the marketplace out there," Mr. Gosselin said.

The project will open in early 2008.

Residents in the building will own the property and can sell it or pass it along to heirs, unlike other seniors projects that are rental or units that go back to the project managers when a resident leaves or dies.

"On the condo side, there will be a monthly service fee that goes to support the services," Mr. Gosselin said. On the assisted-living floors, "we haven't decided yet if it will be a monthly fee or an upfront fee." He said none of the pricing had been determined.

Mr. Gosselin said the Dallas project and a similar one in Maryland are the first two condo projects his company has done.

"I'm not surprised that somebody would target this growing market," said Dallas-based housing consultant Ron Witten. "It is a little bit surprising that they would exclude any buyers."

Mr. Witten said there are lots of age-restricted master-planned communities, but he's never heard of a high-rise project like this one.

"A lot of projects end up being age-restricted by the market, but not by design," he said.

Sunrise Senior Living, one of the country's largest senior housing developers, has two other rental projects under way in North Texas ? one in North Dallas and another in Plano.

"Seniors today are seeking ways to build equity in real estate but shed the burdens of maintaining a home," Sunrise chairman Paul Klaassen said in an announcement.

"Our new senior-living concept offers Dallas seniors the financial benefits of home ownership complemented with services and amenities."

The Sunrise project is about two blocks from where Classic Residence by Hyatt plans to build an even larger high-rise seniors community.

The Hyatt rental project would also open in 2008.

CTroyMathis · May 21st, 2005, 11:29 PM

- This should be pretty close to being up-to-date for Dallas above 10 stories.

- As I get more time, I'll update Fort Worth projects (or someone else can) and I'll insert them into this post in list format.

- Also, all the other notable developments in Dallas or Fort Worth will be listed in a fresh update in their own respective categories in list format (ie 4-10 story dev., infrastructure, arts/museums, stadia, all that other miscellanea...)

- Then, the suburbs' updated list.

- After that, they should all probably go into the first post of this thread as well.

Code:

Dallas (municipal)
New Construction Projects		Stories		Complete/Status
One Victory Tower (I)			45		2008
Conv. Ctr. Marriot Hotel		xx		On Hold
City Lights Res. Tower			32		Planned
W Victory Hotel & Res. Tower North	31		May '06
The Azure				31		Spring '07
The Icon at Victory I			28		Approved
The Icon at Victory II			xx		Planned
Victory Res. Tower J			25		Planned
St. Ann Court				24		Approved
Harwood Glacier Tower res. proj		xx		On Hold
Hyatt Classic Residence			xx		Early '08
Hall Arts Dist. LS site (2 res. bldgs.)	xx		On Hold
Sunrise Condominiums project		23		Early '08
Cresta Bella				22		Late '07
Stoneleigh Residences			22		Approved
The Ashton				21		Mar '05
Ritz Carlton Hotel & Res.		21		2007
The Mondrian				20		Apr '05
Lincoln McKinney Ave. tower proj.	20		Planned
Galleria North Condo. project		20		Planned
Harwood Maple Ave. project		xx		On Hold
One Victory Tower (II)			xx		2008
Hunt Hdqtrs. Tower			xx		Planned
One Arts Plaza 7-Eleven Hdqtrs.		xx		Early '07
Gulf States Bldg. II			17		Summer '06
UTSWMC Biomedical Research Ctr.		16		2004
W Victory Hotel & Res. Tower South	15		May '06
Mercantile Condo Tower			xx		Planned
Prestonwood/Arapaho Condo. project	15		Planned
Ritz Carlton Hotel & Res. II		xx		Planned
Sofitel Site Hotel & Res. project	xx		Planned
One Arts Plaza Residences		xx		Planned
Park Ln. Place (multi. res. bldgs.)	xx		Spring '07
Mockingbird Stn. exp. (multi.res.bldgs.)xx		Planned
Children's Med. Ctr. Twr. III		12		Planned
Children's Med. Ctr. Twr. IV		12		Planned
State-Thomas Hall St. tower proj.	11		Planned
Joule Urban Resort Tower II		10		March '06
Routh St. Complex condo. project	10		Planned
Maple Terrace Condo. Tower project	xx		Planned
CMC/UTSWMC Research Tower		xx		Planned

//not incl. unannounced portions of West Village Master Plan
//not incl. unannounced portions of Victory Park Master Plan
//not incl. the remainder of unannounced International Center Master Plan
* list comprised of structures 10 stories and greater since '04
** structures listed w/stories as "xx" are placed in their approx. likely list position


Renovations/Res. Conversions		Stories		Complete/Status
Republic Bank Tower I			36		2006
Mercantile Tower			36		Planned
1600 Pacific				33		Planned
Fidelity Union Tower I - Pacific Place	31		2007
1200 Main - The Metropolitan		26		2008
Fidelity Union Tower II - Pacific Place	21		2007
Statler-Hilton/Grand Hotel		20		On Hold
Joule Urban Resort Tower I		17		March '06
Gulf States Bldg. I			16		Summer '06
Dallas Power & Light Bldg.		16		2006
Praetorian Bldg.			16		Planned
Atmos Building I			13		Planned
Children's Med. Ctr. Twr II expansion	12		2004
Atmos Building II			12		Planned
Atmos Building III			10		Planned
Continental Building			11		Planned
Civil Courts Bldg. expansion		10		2006

* list comprised of structures 10 stories and greater since '04

rantanamo · May 23rd, 2005, 09:08 AM

yet another announcement

California company to build in Uptown
Residential/retail tower planned
http://www.bizjournals.com/dallas/s.../23/story2.html
Sandra Zaragoza
Staff Writer

One of the last undeveloped sites in Uptown's popular State-Thomas neighborhood may soon sprout an 11-story residential/retail building.

Beverly Hills, Calif.-based Califco L.L.C. , a developer and manager of real estate, has plans to build the mixed-use project on a 1/3-acre lot at the corner of Hall and North Central Expressway, north of downtown Dallas.

Califco is a subsidiary of California-based SEJ Properties L.P., which owns Plymouth Park shopping center in Irving.

"With the scarce amount of land left in the Uptown area, along with the revitalization of the downtown area, our firm was motivated to develop in the area and offer residents something different," said Jonathan Shokrian, regional director of Califco L.L.C.

Blaise McGinley of Dallas-based Orange Studio Inc. , which has been tapped to design the building, says preliminary plans call for a tower with 13,000 square feet of ground-floor retail and 25 to 30 residential units. Parking may be sandwiched between the retail and the residences or may be underground.

The site marks the northern entrance to Uptown's State-Thomas neighborhood and is behind the Wal-Mart Neighborhood Market.

Dallas-based R. L. Ross Co. represented Califco in the land transaction, which is expected to close soon. A purchase price was not disclosed. In the meantime, Califco plans to work with Clear Channel Communications Inc. (NYSE: CCU), which owns a 3,000-square-foot parcel with a large billboard next to the site. Califco plans to either purchase the parcel or work with the company to find a solution. If the billboard remains, "we would try to incorporate it into the development," McGinley said.

The estimated cost for the project is $10 million. The company is soliciting bids for a contractor.

Califco will be watching the residential market to determine whether the units will be condos or apartments. Construction may begin as early as this fall, Shokrian said.

A mixed-use project will fit "spectacularly on that site," said Tracy Curts, executive director of the Uptown Public Improvement District, an entity that is funded primarily by a 4.5 cents tax per $100 in property value that works to improve the appearance of Uptown.
Popular district

Major urban residential developers such as Post Properties Inc. (NYSE: PPS) and Gables Residential Trust (NYSE: GBP) helped to transform the State-Thomas neighborhood, adding upscale apartment buildings, some of which are now being converted to condos.

Condos in new projects in the Uptown market are moving rapidly with units selling in the $400,000 range, said Michael Puls, president of Foley & Puls Inc., a residential consulting and research company.

With national homebuilders in the area and projects under way such as the 202-unit high-rise Azure and 144 condos at the W Hotel & Residences, "the area south of Mockingbird will be extremely competitive (for condo developers) in the next five years," Puls said.

Califco's project will be one neighbor away from Post Properties' "588," an 11-story, 127-unit complex that is undergoing conversion into condos. The one- and two-bedroom units are selling for $200,000 to $300,000 each.
Hot retail site

Post Properties serves as witness to strong demand from retailers in the neighborhood. Post boasts about 45,000 square feet of street-level retail in four of its residential properties. The retail space is more than 90% leased, according to the company.

Shokrian said Califco saw that demand.

"A reason we decided to go mixed-use was that most of the residential developments in the State-Thomas area -- with the exception of a few properties -- lacked ground retail," Shokrian said.

David Valdez, vice president of Henry S. Miller Commercial's international division, will lease the retail portion of the project.

"With the visibility and the access -- it has a lot of promise," Valdez said. "We want tenants that are going to be destination tenants, such as a day spa, tanning salon or a Pei Wei restaurant. Those types of tenants will make that corner really successful."

Valdez believes the development will attract neighborhood residents as well as draw from the east side of Central, where many new residential projects are popping up.

Jack Gosnell, executive vice president for Dallas-based United Commercial Realty's UCR Urban, said there's a need for more neighborhood support services in the area.

"If you go up and down McKinney Avenue, you'll struggle to find a (retail) location," he said. "Just the Wal-Mart traffic alone will support it. Your density is there."

rantanamo · May 24th, 2005, 08:36 AM

And another announced tower

In Uptown, it's back to the office
Lincoln seeks tenants for area's biggest tower since 1999

10:50 PM CDT on Monday, May 23, 2005

By STEVE BROWN / The Dallas Morning News

So far, the Uptown building boom has focused on residential and retail.

But that may soon change.

Developer Lincoln Property Co. is seeking tenants for the biggest office tower to be built in the area in more than a decade. Lincoln's building will have 400,000 square feet of space in 20 stories.

The site is on McKinney Avenue, a couple of blocks from the Crescent complex.

Officials with Lincoln Property could not be reached for details about the timing of the development. But the Dallas-based commercial builder is sending out brochures to prospective tenants and has put up a sign on the site at McKinney and Harwood Street.

The last big office tower built along McKinney was 2100 McKinney, which opened in 1999 across from the Dallas Federal Reserve Bank. That tower has 360,000 square feet of office space on 18 floors.

The office vacancy rate in Uptown and Turtle Creek is about 12 percent, which is less than half the citywide number.

"Supply presently is tight," said Jon Altschuler, managing director of Stream Realty Partners. "While demand currently is not exceptionally deep, there are several tenants floating around of size that could certainly serve as the impetus to jump-start a new development."

Plus, most brokers expect that Lincoln Property would move its own offices from the Lincoln Plaza skyscraper on Akard Street to the new building.

"I think the market is ripe for one or two new buildings in the Uptown area," and Lincoln is likely to build, said Joel Pustmueller of Peloton Real Estate. "There are only a handful of office development sites left, so overbuilding isn't likely this time around."

Architect HKS Inc. designed Lincoln's building, real estate brokers say.

"They've designed a really nice property, and they're an exceptional developer of office space," Mr. Altschuler said. "If anyone could make it work, you'd think it would be Lincoln."

There are a few other Uptown office projects in the works.

Harwood International plans to begin construction this year on a 23-story, 273,000-square-foot glass-and-metal tower at the corner of Harry Hines Boulevard and Moody Street.

The developer has been working on the project since early last year.

Ross Perot Jr.'s Hillwood development firm also plans to start construction this year on its 45-story One Victory Plaza tower, which will have 300,000 square feet of office space.

And CarrAmerica Realty Corp. has been working with Dallas-based Rosewood Corp. on a multi-tenant office building that would be constructed on Pearl Street near Cedar Springs Road.

"The market can get overbuilt very quickly, and since this is Dallas, you'd have to bet that it most likely will," said Mr. Altschuler.

rantanamo · May 27th, 2005, 07:17 AM

the two projects going on at the West Village

rantanamo · May 27th, 2005, 07:21 AM

That Cascades Restaurant building:

The owner says over at the DFWU forum that he and his group changed the prospective name to "LuQa and the Petrus Lounge" after a few months of discussion.

rantanamo · May 27th, 2005, 07:24 AM

Signage on the St. Ann Court site.
In the International Center, basically adjacent to Victory Park.

rantanamo · May 27th, 2005, 07:25 AM

Downtown's One Arts Plaza (7-Eleven Hdqtrs.) siting:

rantanamo · May 27th, 2005, 07:27 AM

Ritz-Carlton

http://www.dallasnews.com/sharedcon...z.e404383a.html

Construction starts on the Ritz-Carlton
At $200 million, tower is investment firm's priciest project

11:07 PM CDT on Wednesday, May 25, 2005

By STEVE BROWN / The Dallas Morning News

The almost $200 million Ritz-Carlton hotel and condo tower is the most expensive project Crescent Real Estate Equities has ever built.

Officials with the Fort Worth-based investment firm kicked off construction Wednesday – more than a year after the deal was announced.

Courtesy Image
The Ritz-Carlton hotel and condo tower. "It always takes a little longer to get these things started than you'd like," said Ken Rehmann, the Ritz-Carlton Hotel Co.'s executive vice president of operations and chief financial officer. "This will be the only Ritz-Carlton in Texas."

The 21-story tower is set to open in the fall of 2007 at the corner of McKinney Avenue and Pearl Street in Uptown.

The Ritz-Carlton Dallas, and the Residences at the Ritz-Carlton will have 217 hotel rooms and 70 luxury condominiums in a classical-style building designed by architect Robert Stern.

The hotel rooms, a restaurant, meeting space, and a spa and fitness center will take up the first eight floors of the building.

The condominiums are on the upper floors and were originally priced from $800,000. The units still for sale range from $1.3 million for a two-bedroom to more than $6 million for a four-bedroom penthouse, Crescent says.

Manhattan Construction Co. is the project's general contractor.

Crescent president Denny Alberts said the only project his company's ever done that's close to this in cost is a $120 million office tower in downtown Houston.

Crescent is planning more construction in Uptown.

"That's phase two," said Mr. Alberts, pointing to the vacant corner of Pearl and Cedar Springs Road. "I would bet it will be more condos."

Crescent amassed most of its property portfolio through acquisitions, but it's looking more and more at construction, said chairman John Goff.

"We are working on two office deals right now in Southern California," he said. "We can develop in certain markets at a price less than we could buy it across the street."

E-mail stevebrown@dallasnews.com

Construction starts on the Ritz-Carlton

rantanamo · May 27th, 2005, 07:29 AM

CityLights. Wow, its really happening

rantanamo · May 27th, 2005, 07:30 AM

W-Hotel's neighbor, Terrace on the Park, gets underway

rantanamo · May 27th, 2005, 07:33 AM

W-Hotel and Residences

rantanamo · May 28th, 2005, 12:06 AM

LATEST NEWS
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Dallas Business Journal - 11:55 AM CDT Friday
Downtown building in line for makeover
Sandra Zaragoza
A developer who is planning a $150 million makeover for a vacant building across from Dallas City Hall is preparing to apply for $27 million in city funding, according to a source close to deal.

The unnamed developer's move to request city tax incentives comes on the heels of the Mercantile deal that fell apart on Wednesday. Cleveland-based Forest City Enterprises called off negotiations with city officials in a dispute over city funding. The company was seeking upwards of $60 million in tax incentives for a project that would have converted the Mercantile National Bank on Main Street into a retail and residential complex.

Now, a Canada-based developer has plans to transform a vacant building, 500 S. Ervay St., into a 350-unit condominium project with 30,000 square feet of ground-floor retail. A hotel component could also be part of the complex.

The building's makeover would convert it into a landmark structure in the neglected southern end of downtown, according to the source.

A number of atria are planned for the interior of the building, which would be named "Atria" to reflect that. A five-story wing would be added to the eight-story building.

Atria's preliminary plans also call for a white peaked roofline reminiscent of the Rocky Mountain roofscape at Denver International Airport. The rolling roof would stretch across half of the building and emit a soft glow. Space underneath the roof would be used as an entertainment/concert venue with seating for 500 to 800.

The development would offer both condominiums ranging from 900 square feet to 1,100 square feet and penthouses. Some of the condos will feature balconies with French doors.

The project could begin as early as January with a move-in date for residents of spring 2007.

Brad Aflatouni, CEO of Dallas-based Transglobal Realty Advisors, who is representing the Canadian developer in the transaction, says the deal is expected to close soon. The building's owner, 500 S. Ervay L.P., could not be reached for comment, but in January the company did confirm that the building was under contract.

The Dallas Central Appraisal District values the building at $2.5 million, but a source estimates a $9 million sale price.

The developer is currently in talks with a local fashion organization to develop a program that would bring international designers and specialty shops to Atria. If an agreement is reached, retail space will be expanded to accommodate additional retailers.

rantanamo · May 28th, 2005, 12:08 AM

Suburbs' condo craze continues

Developers planning an 11-story luxury tower in Addison

12:22 AM CDT on Friday, May 27, 2005

By STEVE BROWN / The Dallas Morning News

More evidence that the high-rise condo boom is taking hold in the suburbs: Developers are planning an 11-story condo tower in Addison near the southeast corner of Belt Line Road and the Dallas North Tollway.

Dallas luxury homebuilder Sharif-Munir and Dallas developer Redwood Residential Properties are planning to build the Amalfi on Montfort Road at the south end of the Village on the Parkway shopping center.

LAYNE SMITH/Staff Artist

The Italian-themed residential tower will have 80 condos that start at $600,000. The average unit will be more than 3,000 square feet, and the largest condos will come with parking for three cars.

Frills at the Amalfi include two private parks, a pool and exercise spa, a parlor, a library and a clubroom. The developers say the front entry court will have a waterfall "reminiscent of the Amalfi coastline" in Italy.

Builder Mickey Munir predicts that many buyers will come from nearby neighborhoods. "We think it's going to be old country clubbers who have lived in their houses forever and don't want their yards anymore," he said. "We think it's people with multiple homes.

"There might be some corporate condos because we are close to Addison Airport."

The developers plan to open a marketing center in a nearby storefront soon.

"We have to get 35 to 40 contracts, and then we'll start construction," Mr. Munir said. "Hopefully that will be in February, but we'll start sooner if we get enough contracts."

The Amalfi is the third high-rise condo project announced recently on the tollway corridor.

High-rise housing analysts say that it's too early to predict demand.

"How deep is that market, and how many units should they do?" said analyst Mike Puls of Foley & Puls Inc. "I kind of like the location in the Belt Line Road corridor, where you can walk to retail."

The Amalfi site "has something going for it for the urban lifestyle," he said.

Redwood Residential said it has done other developments in Texas and Florida. Sharif-Munir has built custom homes in North Texas for 27 years.

E-mail stevebrown@dallasnews.com

rantanamo · June 2nd, 2005, 01:48 AM

Finally a rendering and reminder of the story

In Uptown, it's back to the office
Lincoln seeks tenants for area's biggest tower since 1999

10:50 PM CDT on Monday, May 23, 2005

By STEVE BROWN / The Dallas Morning News

So far, the Uptown building boom has focused on residential and retail.

But that may soon change.

Developer Lincoln Property Co. is seeking tenants for the biggest office tower to be built in the area in more than a decade. Lincoln's building will have 400,000 square feet of space in 20 stories.

The site is on McKinney Avenue, a couple of blocks from the Crescent complex.

Officials with Lincoln Property could not be reached for details about the timing of the development. But the Dallas-based commercial builder is sending out brochures to prospective tenants and has put up a sign on the site at McKinney and Harwood Street.

The last big office tower built along McKinney was 2100 McKinney, which opened in 1999 across from the Dallas Federal Reserve Bank. That tower has 360,000 square feet of office space on 18 floors.

The office vacancy rate in Uptown and Turtle Creek is about 12 percent, which is less than half the citywide number.

"Supply presently is tight," said Jon Altschuler, managing director of Stream Realty Partners. "While demand currently is not exceptionally deep, there are several tenants floating around of size that could certainly serve as the impetus to jump-start a new development."

Plus, most brokers expect that Lincoln Property would move its own offices from the Lincoln Plaza skyscraper on Akard Street to the new building.

"I think the market is ripe for one or two new buildings in the Uptown area," and Lincoln is likely to build, said Joel Pustmueller of Peloton Real Estate. "There are only a handful of office development sites left, so overbuilding isn't likely this time around."

Architect HKS Inc. designed Lincoln's building, real estate brokers say.

"They've designed a really nice property, and they're an exceptional developer of office space," Mr. Altschuler said. "If anyone could make it work, you'd think it would be Lincoln."

There are a few other Uptown office projects in the works.

Harwood International plans to begin construction this year on a 23-story, 273,000-square-foot glass-and-metal tower at the corner of Harry Hines Boulevard and Moody Street.

The developer has been working on the project since early last year.

Ross Perot Jr.'s Hillwood development firm also plans to start construction this year on its 45-story One Victory Plaza tower, which will have 300,000 square feet of office space.

And CarrAmerica Realty Corp. has been working with Dallas-based Rosewood Corp. on a multi-tenant office building that would be constructed on Pearl Street near Cedar Springs Road.

"The market can get overbuilt very quickly, and since this is Dallas, you'd have to bet that it most likely will," said Mr. Altschuler.

E-mail stevebrown@dallasnews.com

May 14th, 2005, 08:47 PM	#122
CTroyMathis Sea™ Join Date: Sep 2002 Location: Dallas.TX Previously:New London.CT/Portsmouth.NH Posts: 290 Likes (Received): 0	W Hotel & Residences 14May05 u/c photo by WestTexan:

May 15th, 2005, 01:32 AM	#123
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	some others by WestTexan and Tnekster Last edited by rantanamo; May 15th, 2005 at 01:50 AM.

May 21st, 2005, 05:23 PM	#126
CTroyMathis Sea™ Join Date: Sep 2002 Location: Dallas.TX Previously:New London.CT/Portsmouth.NH Posts: 290 Likes (Received): 0	Sunrise Senior Living @ Turtle Creek - 23ST condo tower New project not far away from the Hyatt Classic Residences @ Turtle Creek condo tower project. ------------------------------------- Condos are strictly for seniors http://www.dallasnews.com/sharedcont....ca366ee0.html Project will offer dining, fitness facilities, allow residents 60 and older 11:30 PM CDT on Friday, May 20, 2005 By STEVE BROWN / The Dallas Morning News A Turtle Creek condo project is taking senior living to a new level. A 23-story tower at Hall and Sale streets will be condos for residents 60 and older. Virginia-based Sunrise Senior Living Inc. said Thursday that it will begin construction later this year on the 140-unit project. "We believe it is going to start in the low to mid-$300,000s for the one-bedrooms and go all the way up to $1 million," said Sunrise spokesman Jamison Gosselin. Located across from Lee Park and a block from Turtle Creek, the 350,000-square-foot project will include fine and casual dining, a fitness facility, an indoor pool, activity rooms and a luxury spa. And two floors of the building will be dedicated to units for residents needing assisted living. "This is going to be another choice for seniors to select from the many options in the marketplace out there," Mr. Gosselin said. The project will open in early 2008. Residents in the building will own the property and can sell it or pass it along to heirs, unlike other seniors projects that are rental or units that go back to the project managers when a resident leaves or dies. "On the condo side, there will be a monthly service fee that goes to support the services," Mr. Gosselin said. On the assisted-living floors, "we haven't decided yet if it will be a monthly fee or an upfront fee." He said none of the pricing had been determined. Mr. Gosselin said the Dallas project and a similar one in Maryland are the first two condo projects his company has done. "I'm not surprised that somebody would target this growing market," said Dallas-based housing consultant Ron Witten. "It is a little bit surprising that they would exclude any buyers." Mr. Witten said there are lots of age-restricted master-planned communities, but he's never heard of a high-rise project like this one. "A lot of projects end up being age-restricted by the market, but not by design," he said. Sunrise Senior Living, one of the country's largest senior housing developers, has two other rental projects under way in North Texas ? one in North Dallas and another in Plano. "Seniors today are seeking ways to build equity in real estate but shed the burdens of maintaining a home," Sunrise chairman Paul Klaassen said in an announcement. "Our new senior-living concept offers Dallas seniors the financial benefits of home ownership complemented with services and amenities." The Sunrise project is about two blocks from where Classic Residence by Hyatt plans to build an even larger high-rise seniors community. The Hyatt rental project would also open in 2008.

May 23rd, 2005, 09:08 AM	#128
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	yet another announcement California company to build in Uptown Residential/retail tower planned http://www.bizjournals.com/dallas/s.../23/story2.html Sandra Zaragoza Staff Writer One of the last undeveloped sites in Uptown's popular State-Thomas neighborhood may soon sprout an 11-story residential/retail building. Beverly Hills, Calif.-based Califco L.L.C. , a developer and manager of real estate, has plans to build the mixed-use project on a 1/3-acre lot at the corner of Hall and North Central Expressway, north of downtown Dallas. Califco is a subsidiary of California-based SEJ Properties L.P., which owns Plymouth Park shopping center in Irving. "With the scarce amount of land left in the Uptown area, along with the revitalization of the downtown area, our firm was motivated to develop in the area and offer residents something different," said Jonathan Shokrian, regional director of Califco L.L.C. Blaise McGinley of Dallas-based Orange Studio Inc. , which has been tapped to design the building, says preliminary plans call for a tower with 13,000 square feet of ground-floor retail and 25 to 30 residential units. Parking may be sandwiched between the retail and the residences or may be underground. The site marks the northern entrance to Uptown's State-Thomas neighborhood and is behind the Wal-Mart Neighborhood Market. Dallas-based R. L. Ross Co. represented Califco in the land transaction, which is expected to close soon. A purchase price was not disclosed. In the meantime, Califco plans to work with Clear Channel Communications Inc. (NYSE: CCU), which owns a 3,000-square-foot parcel with a large billboard next to the site. Califco plans to either purchase the parcel or work with the company to find a solution. If the billboard remains, "we would try to incorporate it into the development," McGinley said. The estimated cost for the project is $10 million. The company is soliciting bids for a contractor. Califco will be watching the residential market to determine whether the units will be condos or apartments. Construction may begin as early as this fall, Shokrian said. A mixed-use project will fit "spectacularly on that site," said Tracy Curts, executive director of the Uptown Public Improvement District, an entity that is funded primarily by a 4.5 cents tax per $100 in property value that works to improve the appearance of Uptown. Popular district Major urban residential developers such as Post Properties Inc. (NYSE: PPS) and Gables Residential Trust (NYSE: GBP) helped to transform the State-Thomas neighborhood, adding upscale apartment buildings, some of which are now being converted to condos. Condos in new projects in the Uptown market are moving rapidly with units selling in the $400,000 range, said Michael Puls, president of Foley & Puls Inc., a residential consulting and research company. With national homebuilders in the area and projects under way such as the 202-unit high-rise Azure and 144 condos at the W Hotel & Residences, "the area south of Mockingbird will be extremely competitive (for condo developers) in the next five years," Puls said. Califco's project will be one neighbor away from Post Properties' "588," an 11-story, 127-unit complex that is undergoing conversion into condos. The one- and two-bedroom units are selling for $200,000 to $300,000 each. Hot retail site Post Properties serves as witness to strong demand from retailers in the neighborhood. Post boasts about 45,000 square feet of street-level retail in four of its residential properties. The retail space is more than 90% leased, according to the company. Shokrian said Califco saw that demand. "A reason we decided to go mixed-use was that most of the residential developments in the State-Thomas area -- with the exception of a few properties -- lacked ground retail," Shokrian said. David Valdez, vice president of Henry S. Miller Commercial's international division, will lease the retail portion of the project. "With the visibility and the access -- it has a lot of promise," Valdez said. "We want tenants that are going to be destination tenants, such as a day spa, tanning salon or a Pei Wei restaurant. Those types of tenants will make that corner really successful." Valdez believes the development will attract neighborhood residents as well as draw from the east side of Central, where many new residential projects are popping up. Jack Gosnell, executive vice president for Dallas-based United Commercial Realty's UCR Urban, said there's a need for more neighborhood support services in the area. "If you go up and down McKinney Avenue, you'll struggle to find a (retail) location," he said. "Just the Wal-Mart traffic alone will support it. Your density is there." Last edited by rantanamo; May 24th, 2005 at 11:28 PM.

May 27th, 2005, 07:27 AM	#134
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	Ritz-Carlton http://www.dallasnews.com/sharedcon...z.e404383a.html Construction starts on the Ritz-Carlton At $200 million, tower is investment firm's priciest project 11:07 PM CDT on Wednesday, May 25, 2005 By STEVE BROWN / The Dallas Morning News The almost $200 million Ritz-Carlton hotel and condo tower is the most expensive project Crescent Real Estate Equities has ever built. Officials with the Fort Worth-based investment firm kicked off construction Wednesday – more than a year after the deal was announced. Courtesy Image The Ritz-Carlton hotel and condo tower. "It always takes a little longer to get these things started than you'd like," said Ken Rehmann, the Ritz-Carlton Hotel Co.'s executive vice president of operations and chief financial officer. "This will be the only Ritz-Carlton in Texas." The 21-story tower is set to open in the fall of 2007 at the corner of McKinney Avenue and Pearl Street in Uptown. The Ritz-Carlton Dallas, and the Residences at the Ritz-Carlton will have 217 hotel rooms and 70 luxury condominiums in a classical-style building designed by architect Robert Stern. The hotel rooms, a restaurant, meeting space, and a spa and fitness center will take up the first eight floors of the building. The condominiums are on the upper floors and were originally priced from $800,000. The units still for sale range from $1.3 million for a two-bedroom to more than $6 million for a four-bedroom penthouse, Crescent says. Manhattan Construction Co. is the project's general contractor. Crescent president Denny Alberts said the only project his company's ever done that's close to this in cost is a $120 million office tower in downtown Houston. Crescent is planning more construction in Uptown. "That's phase two," said Mr. Alberts, pointing to the vacant corner of Pearl and Cedar Springs Road. "I would bet it will be more condos." Crescent amassed most of its property portfolio through acquisitions, but it's looking more and more at construction, said chairman John Goff. "We are working on two office deals right now in Southern California," he said. "We can develop in certain markets at a price less than we could buy it across the street." E-mail stevebrown@dallasnews.com Construction starts on the Ritz-Carlton Last edited by rantanamo; May 27th, 2005 at 07:33 AM.

May 14th, 2005, 03:23 AM	#121
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	"Gold shovel time More than a year after announcing the project, Crescent Real Estate Equities and the Ritz-Carlton Hotel Co. are breaking ground on the Ritz-Carlton Dallas and the Residences at the Ritz-Carlton at McKinney Avenue and Pearl Street. Workers have been busy in the last week putting up the construction fence, and construction is set to start on May 25. At a morning ceremony, there will be a tent, speeches, golden shovels and all the other required accoutrements of a Dallas groundbreaking. " 09:25 PM CDT on Thursday, May 12, 2005 http://www.dallasnews.com/sharedcon...l.a0780845.html

May 15th, 2005, 07:22 AM	#124
Westcoaster Registered User Join Date: May 2005 Location: Los Angeles Posts: 1 Likes (Received): 0	I lived in Dallas for 8 years, but left nearly 4 years ago. I'm not sure I'd recognize the place anymore. Great job on showcasing the city through photography. Are there any threads that feature D/FW Airport's construction of the new terminal and train system? There's so much going on at D/FW and since the airport doesn't seem to care about updating their web pages with current photos, I thought I'd check here.

May 15th, 2005, 10:42 PM	#125
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	I'll try to find as much as I can, but the pics on the web site are pretty good. Most of the work going on is probably inside now. We'll get better looks over the summer as things open up.

May 24th, 2005, 08:36 AM	#129
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	And another announced tower In Uptown, it's back to the office Lincoln seeks tenants for area's biggest tower since 1999 10:50 PM CDT on Monday, May 23, 2005 By STEVE BROWN / The Dallas Morning News So far, the Uptown building boom has focused on residential and retail. But that may soon change. Developer Lincoln Property Co. is seeking tenants for the biggest office tower to be built in the area in more than a decade. Lincoln's building will have 400,000 square feet of space in 20 stories. The site is on McKinney Avenue, a couple of blocks from the Crescent complex. Officials with Lincoln Property could not be reached for details about the timing of the development. But the Dallas-based commercial builder is sending out brochures to prospective tenants and has put up a sign on the site at McKinney and Harwood Street. The last big office tower built along McKinney was 2100 McKinney, which opened in 1999 across from the Dallas Federal Reserve Bank. That tower has 360,000 square feet of office space on 18 floors. The office vacancy rate in Uptown and Turtle Creek is about 12 percent, which is less than half the citywide number. "Supply presently is tight," said Jon Altschuler, managing director of Stream Realty Partners. "While demand currently is not exceptionally deep, there are several tenants floating around of size that could certainly serve as the impetus to jump-start a new development." Plus, most brokers expect that Lincoln Property would move its own offices from the Lincoln Plaza skyscraper on Akard Street to the new building. "I think the market is ripe for one or two new buildings in the Uptown area," and Lincoln is likely to build, said Joel Pustmueller of Peloton Real Estate. "There are only a handful of office development sites left, so overbuilding isn't likely this time around." Architect HKS Inc. designed Lincoln's building, real estate brokers say. "They've designed a really nice property, and they're an exceptional developer of office space," Mr. Altschuler said. "If anyone could make it work, you'd think it would be Lincoln." There are a few other Uptown office projects in the works. Harwood International plans to begin construction this year on a 23-story, 273,000-square-foot glass-and-metal tower at the corner of Harry Hines Boulevard and Moody Street. The developer has been working on the project since early last year. Ross Perot Jr.'s Hillwood development firm also plans to start construction this year on its 45-story One Victory Plaza tower, which will have 300,000 square feet of office space. And CarrAmerica Realty Corp. has been working with Dallas-based Rosewood Corp. on a multi-tenant office building that would be constructed on Pearl Street near Cedar Springs Road. "The market can get overbuilt very quickly, and since this is Dallas, you'd have to bet that it most likely will," said Mr. Altschuler.

May 27th, 2005, 07:17 AM	#130
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	the two projects going on at the West Village

May 27th, 2005, 07:21 AM	#131
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	That Cascades Restaurant building: The owner says over at the DFWU forum that he and his group changed the prospective name to "LuQa and the Petrus Lounge" after a few months of discussion.

May 27th, 2005, 07:24 AM	#132
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	Signage on the St. Ann Court site. In the International Center, basically adjacent to Victory Park.

May 27th, 2005, 07:25 AM	#133
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	Downtown's One Arts Plaza (7-Eleven Hdqtrs.) siting:

May 27th, 2005, 07:29 AM	#135
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	CityLights. Wow, its really happening

May 27th, 2005, 07:30 AM	#136
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	W-Hotel's neighbor, Terrace on the Park, gets underway

May 27th, 2005, 07:33 AM	#137
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	W-Hotel and Residences

May 28th, 2005, 12:06 AM	#138
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	LATEST NEWS RSS Feeds \| Reprints \| E-mail Alerts \| Printable Version \| Email Story Dallas Business Journal - 11:55 AM CDT Friday Downtown building in line for makeover Sandra Zaragoza A developer who is planning a $150 million makeover for a vacant building across from Dallas City Hall is preparing to apply for $27 million in city funding, according to a source close to deal. The unnamed developer's move to request city tax incentives comes on the heels of the Mercantile deal that fell apart on Wednesday. Cleveland-based Forest City Enterprises called off negotiations with city officials in a dispute over city funding. The company was seeking upwards of $60 million in tax incentives for a project that would have converted the Mercantile National Bank on Main Street into a retail and residential complex. Now, a Canada-based developer has plans to transform a vacant building, 500 S. Ervay St., into a 350-unit condominium project with 30,000 square feet of ground-floor retail. A hotel component could also be part of the complex. The building's makeover would convert it into a landmark structure in the neglected southern end of downtown, according to the source. A number of atria are planned for the interior of the building, which would be named "Atria" to reflect that. A five-story wing would be added to the eight-story building. Atria's preliminary plans also call for a white peaked roofline reminiscent of the Rocky Mountain roofscape at Denver International Airport. The rolling roof would stretch across half of the building and emit a soft glow. Space underneath the roof would be used as an entertainment/concert venue with seating for 500 to 800. The development would offer both condominiums ranging from 900 square feet to 1,100 square feet and penthouses. Some of the condos will feature balconies with French doors. The project could begin as early as January with a move-in date for residents of spring 2007. Brad Aflatouni, CEO of Dallas-based Transglobal Realty Advisors, who is representing the Canadian developer in the transaction, says the deal is expected to close soon. The building's owner, 500 S. Ervay L.P., could not be reached for comment, but in January the company did confirm that the building was under contract. The Dallas Central Appraisal District values the building at $2.5 million, but a source estimates a $9 million sale price. The developer is currently in talks with a local fashion organization to develop a program that would bring international designers and specialty shops to Atria. If an agreement is reached, retail space will be expanded to accommodate additional retailers.

May 28th, 2005, 12:08 AM	#139
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	Suburbs' condo craze continues Developers planning an 11-story luxury tower in Addison 12:22 AM CDT on Friday, May 27, 2005 By STEVE BROWN / The Dallas Morning News More evidence that the high-rise condo boom is taking hold in the suburbs: Developers are planning an 11-story condo tower in Addison near the southeast corner of Belt Line Road and the Dallas North Tollway. Dallas luxury homebuilder Sharif-Munir and Dallas developer Redwood Residential Properties are planning to build the Amalfi on Montfort Road at the south end of the Village on the Parkway shopping center. LAYNE SMITH/Staff Artist The Italian-themed residential tower will have 80 condos that start at $600,000. The average unit will be more than 3,000 square feet, and the largest condos will come with parking for three cars. Frills at the Amalfi include two private parks, a pool and exercise spa, a parlor, a library and a clubroom. The developers say the front entry court will have a waterfall "reminiscent of the Amalfi coastline" in Italy. Builder Mickey Munir predicts that many buyers will come from nearby neighborhoods. "We think it's going to be old country clubbers who have lived in their houses forever and don't want their yards anymore," he said. "We think it's people with multiple homes. "There might be some corporate condos because we are close to Addison Airport." The developers plan to open a marketing center in a nearby storefront soon. "We have to get 35 to 40 contracts, and then we'll start construction," Mr. Munir said. "Hopefully that will be in February, but we'll start sooner if we get enough contracts." The Amalfi is the third high-rise condo project announced recently on the tollway corridor. High-rise housing analysts say that it's too early to predict demand. "How deep is that market, and how many units should they do?" said analyst Mike Puls of Foley & Puls Inc. "I kind of like the location in the Belt Line Road corridor, where you can walk to retail." The Amalfi site "has something going for it for the urban lifestyle," he said. Redwood Residential said it has done other developments in Texas and Florida. Sharif-Munir has built custom homes in North Texas for 27 years. E-mail stevebrown@dallasnews.com

June 2nd, 2005, 01:48 AM	#140
rantanamo Registered User Join Date: Sep 2002 Location: Dallas, Texas Posts: 2,872 Likes (Received): 9	Finally a rendering and reminder of the story In Uptown, it's back to the office Lincoln seeks tenants for area's biggest tower since 1999 10:50 PM CDT on Monday, May 23, 2005 By STEVE BROWN / The Dallas Morning News So far, the Uptown building boom has focused on residential and retail. But that may soon change. Developer Lincoln Property Co. is seeking tenants for the biggest office tower to be built in the area in more than a decade. Lincoln's building will have 400,000 square feet of space in 20 stories. The site is on McKinney Avenue, a couple of blocks from the Crescent complex. Officials with Lincoln Property could not be reached for details about the timing of the development. But the Dallas-based commercial builder is sending out brochures to prospective tenants and has put up a sign on the site at McKinney and Harwood Street. The last big office tower built along McKinney was 2100 McKinney, which opened in 1999 across from the Dallas Federal Reserve Bank. That tower has 360,000 square feet of office space on 18 floors. The office vacancy rate in Uptown and Turtle Creek is about 12 percent, which is less than half the citywide number. "Supply presently is tight," said Jon Altschuler, managing director of Stream Realty Partners. "While demand currently is not exceptionally deep, there are several tenants floating around of size that could certainly serve as the impetus to jump-start a new development." Plus, most brokers expect that Lincoln Property would move its own offices from the Lincoln Plaza skyscraper on Akard Street to the new building. "I think the market is ripe for one or two new buildings in the Uptown area," and Lincoln is likely to build, said Joel Pustmueller of Peloton Real Estate. "There are only a handful of office development sites left, so overbuilding isn't likely this time around." Architect HKS Inc. designed Lincoln's building, real estate brokers say. "They've designed a really nice property, and they're an exceptional developer of office space," Mr. Altschuler said. "If anyone could make it work, you'd think it would be Lincoln." There are a few other Uptown office projects in the works. Harwood International plans to begin construction this year on a 23-story, 273,000-square-foot glass-and-metal tower at the corner of Harry Hines Boulevard and Moody Street. The developer has been working on the project since early last year. Ross Perot Jr.'s Hillwood development firm also plans to start construction this year on its 45-story One Victory Plaza tower, which will have 300,000 square feet of office space. And CarrAmerica Realty Corp. has been working with Dallas-based Rosewood Corp. on a multi-tenant office building that would be constructed on Pearl Street near Cedar Springs Road. "The market can get overbuilt very quickly, and since this is Dallas, you'd have to bet that it most likely will," said Mr. Altschuler. E-mail stevebrown@dallasnews.com

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