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Discussion Starter · #1 ·
Victory Park's new tallest tower will cost more than $138 million

Houston-based developer Hines has filed building permits for what would be the tallest tower in Dallas' Victory Park development near downtown.

The 39-story skyscraper will be constructed across the street from American Airlines Center arena and next door to the W Dallas Victory Hotel & Residences.

According to Hines' building permit information filed with the city, the project at 3099 Olive Street will cost more than $138 million. The residential tower will include 334 apartments and 9,500 square feet of retail space.

Hines representatives so far aren't talking about the project. But word of the huge building surfaced last month in city planning documents.
The apartment tower is to be built on a site that in 2007 was to be used for the 43-story Mandarin Oriental Hotel & Residences. But the recession hit before work on the tower began and the project never got off the ground.

Victory Park's current tallest high-rise — the 31-story W Hotel — opened next door to the building site in 2006.

Hines' tower site is one of the last vacant tracts in Victory Park and is owned by German investors who in 2009 took control of most of the project.
 

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Discussion Starter · #7 ·
New Details Emerge for Victory Park’s Next Tallest Tower Project



American Airlines Center, home of the Dallas Mavericks, will be getting a new neighbor in the not-too-distant future — in the form of a 39-story residential tower at 3099 Olive Street.

Hines, a global real estate investor/developer, submitted building permit applications on April 17 for the construction of a “multi-family dwelling.” Why does that feel like an understatement? Because the proposal would make it the tallest building in Victory Park. The project is headed to a lot that is directly south of the Mavericks arena, and just across Victory Park Lane from the W Dallas – Victory Hotel and W Residences. The Hines project will be 432 feet — that’s seven stories taller the W Dallas.

The application is under review and Hines has not announced a construction start date, or revealed illustrations of the building at this time. The developer entered a “job value” for these permits that totals at $138 million. Hines also hasn’t stated whether this project’s residential units will be for rental or purchase, but several condominium properties have previously been built in Victory Park, including Bleu Ciel, The Terrace, and The House.

Last month, media reports based on a development plan under review by the Dallas City Plan Commission stated the tower would have 347 units and a total area of 445,145 square feet. However, these permit applications state the tower will actually have 344 units, with the area nearly doubled at 838,509 square feet.


Most floors will have 12 units each, but Hines is looking at limiting the number of units on the top two or three floors to six units each. On the ground floor, there will be some type of retail or restaurant space with about 12,000 square feet — not 9,500 square feet as previously reported. The ground level also includes a tenant amenity space totaling 8,079 square feet.

Nine levels of parking are proposed, for a total of 227,646 square feet. The required parking for residents and the retail/restaurant space is 471 spaces, but the developer is proposing to provide 667. There are tenant amenity spaces on the ninth and 36th floors, and most of the residential floors will have floor plans of approximately 19,000 square feet total. However, the top three floors are 17,504 square feet, an indication that the 36th floor amenity is an open-air deck.


Hines created a limited partnership, 3099 Olive LP, in the summer of 2017 to act as owner of the property, which currently is a surface parking lot whose street boundaries include Olive Street to the north, Victory Park Lane to the east and Victory Avenue to the west.

The project site is about one block northeast of Victory Center at 2371 Victory Avenue. This is a 23-story residential tower Hines developed as a joint venture with Cousins Properties, and is scheduled to open this summer. The new site for the 3099 Olive LP project was under consideration in 2007 by a different developer for a 43-story hotel/condo development to be known as the Mandarin Oriental Hotel. The recession ended that concept before it reached the construction phase.
 

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Discussion Starter · #10 ·
New Victory Park tower will be one of the tallest outside downtown Dallas



Construction is about to start on a centerpiece tower in Dallas' Victory Park project.

The 39-story skyscraper will be one of the tallest Dallas buildings outside of downtown.

Houston-based developer Hines will build the apartment tower across the street from the American Airlines Center arena next to the W Hotel. The Olive Street development site is one of the last vacant tracts in the 75-acre Victory Park development.

Called The Victor, the almost 500,000-square-foot high-rise project will have 344 luxury apartments.

"The name is a nice nod to its location and the resurgence of Victory Park," said Hines' Corbin Eckel. "For residential, it's definitely going to be the tallest building outside of downtown.

"Victory Park is unique in that there is not the same height limit there is in Uptown," he said. "The zoning in Victory Park lends itself to taller buildings."

Designed by Houston architect Munoz + Albin, the 453-foot tower will sit on the west side of the block between at Olive and Victory Avenue. An 8-story section of the project that covers most of the site will include 10,000 square feet of retail space plus a parking garage.

A rooftop pool and outdoor lounge area for the apartment tenants will sit above the garage.

"The retail is right across from the W Hotel lobby and looking right at the American Airlines Center," Eckel said.

Because of the size of the project, The Victor will take more than two years to build.

"We are forecasting 32 months to total completion," Eckel said. "Our first units will be ready in 27 months."

That will be well after the current crop of apartment towers at Victory Park are leased. Four luxury residential high-rises have just been completed in the development northwest of downtown Dallas.

"We are slating the delivery of our project such that the timing will be when a lot of that has been absorbed," Eckel said.

The Victor is planned with 18 penthouses. The largest apartment will be almost 3,000 square feet and the smallest units will be 538 square feet. A 36th floor "sky amenity deck" will have an indoor-outdoor dining area with catering kitchen. The building also will have a coworking center, pet spa, fitness center, theater and golf simulators for residents.

As Victory Park's tallest building, The Victor will be the most visible sign of the 20-year-old development's revival.

"This project is validation for the efforts we've made in the last three years for someone like Hines to make that significant of [an] investment," said Victory Park vice president Lance Fair. "That corner is like the intersection of Main Street and Main for us — a very important property."

After a slow start and stumble during the Great Recession, the project has roared back to life in the last few years with thousands of new apartments plus revamped retail space.

"If you walk down there you can't believe the feel of it and the quality of the retail," said Hines managing director Ben Brewer. "It really feels like an urban environment.

"Residents will enjoy a walkable, big-city lifestyle in a living environment that exudes cutting-edge style."

The residential tower is being built on a surface parking lot that a decade ago was planned for a high-rise Mandarin Oriental Hotel and condos.

"The project transforms a desolate parking lot into a pedestrian's refuge and solidifies the fabric of the neighborhood with its public realm," said architect Jorge Munoz. "A pocket park greets the public on the west side of the property and is in direct sight of the tower's lobby."

The Dallas development is one of a series of new urban apartment projects Hines is doing around the Southwest, including locations in Houston, Phoenix and Denver.

"We are currently looking for sites in Dallas," Brewer said.

"Hines entered the multifamily business five years ago with a commitment to strive for market-leading products that are great investments, additive to communities, and superior places to live," said Kevin Batchelor, senior managing director of multifamily at Hines. "Our portfolio of sector experience now includes more than 16,000 units valued at more than $6 billion nationally.

"A large concentration of the projects has been in the Houston area and we are thrilled to be bringing cutting-edge Hines residential projects to Dallas, Phoenix, Denver and other cities in the Southwestern U.S."

Hines has a long track record in the Dallas area. The international real estate firm built the Galleria shopping mall in Far North Dallas. And Hines is building urban-style home developments in several suburban locations.

Hines was also a partner in the building of the One Victory Park office tower at Victory Park.














 

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Discussion Starter · #12 ·
https://dallas.towers.net/2018/11/27/even-without-amazons-hq2-victory-park-is-still-a-tower-magnet/

The Victor
In the spring, Houston-based developer Hines submitted plans for a 39-story residential tower, but we could only imagine its scale at the time, based on the global developers’ descriptions. Hines has since put a name, a face and a website to its offering. Keeping in mind that Victory Park doesn’t have the height restrictions in place for its northern border district, Uptown, Hines planned The Victor at 3099 Olive Street to be the tallest building in Victory Park:


Although local developers tried, Victory Park in Dallas did not land an Amazon HQ2 — but with three more tower projects in progress in or very near the district, there will still be plenty of cranes going into 2019. Let’s take a tour:

The Victor
In the spring, Houston-based developer Hines submitted plans for a 39-story residential tower, but we could only imagine its scale at the time, based on the global developers’ descriptions. Hines has since put a name, a face and a website to its offering. Keeping in mind that Victory Park doesn’t have the height restrictions in place for its northern border district, Uptown, Hines planned The Victor at 3099 Olive Street to be the tallest building in Victory Park:

Hines broke ground earlier this month on what will be a 344-unit apartment building with 18 penthouses on levels 37 to 39.


The Victor couldn’t have a more prominent location. It is across Victory Park Lane from the lobby of W Dallas Victory Hotel by Marriott and a block south of the American Airlines Center.

Future residents of the building, which for years has been a surface parking lot, will have access to 24-hour valet parking, a 9th-level resort pool with cabanas and daybeds, a 36th-level sky deck with dining room, sports simulator and theater room, fitness center, coworking and conference spaces, guest suites, several lounge areas with complimentary beverage and coffee bars, a dog park, bike shop, and 9,500 square feet of street-level retail and restaurants.

The Hines design team includes building architect Munoz+Albin, interior architects Ragni Studio (MaRS), and landscape architects TBG. MaRS principal Eric Ragni said the interiors are influenced by the Dallas arts and culture scene, adding, “we have introduced a number of commissioned pieces as a means to experience the work of local and international artists within the framework public living space.”

Construction is expected to reach completion by the second quarter of 2021 and pre-leasing will begin in the fall of 2020.
 
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