DTD: Gulf States Bldg. + 1414 Elm + Third Rail Lofts (1407 Main)(16 ST.)

[Justin Terveen]

:D


.

[gc]

Nice pics. I like 'em.

[txRNGr]

Boo "Photobucket.com: Bandwidth Exceeded"
Hooray Beer!

[FoUTASportscaster]

Opening dates for Gulf States


Downtown residential outlook is looking up

Boosters begin countdown to 24-hour neighborhood


10:51 PM CDT on Thursday, September 7, 2006

By STEVE BROWN / The Dallas Morning News

For years, Dallas boosters have yearned for more residential space downtown.

They are about to get their wish.

By next year, the number of apartments and condominiums in the central business district will top 4,400 units.

That's up from fewer than 500 in 1999.

Developers and market analysts agree that the wave of residential building will help make downtown a 24-hour neighborhood.

But the surge in apartment construction could also cause some hiccups.

"We are bracing for it," said developer Ted Hamilton, whose company will begin leasing 440 apartments in the former Union Tower Complex later this year.

"I'm sure there will be a temporary softening in the market because so many new units are coming.

"But our hope is that we can attract renters who previously weren't interested in downtown," Mr. Hamilton said.

To do that, developers need to pump up the population in the central business district.

The current construction will add to the nascent neighborhood.

More than 3,000 people already live in the 1.3 square miles bounded by the downtown freeway loop, according to DowntownDallas, the economic development group.

The headcount is expected to more than triple by 2010, when all the apartments and condos in the works are completed.

The goal is getting enough residential and retail construction that downtown can become a self-sustaining market, said Karl Zavitkovsky, economic development director with the city of Dallas.

"Right now, we are on the cusp of that, but we really aren't there yet," Mr. Zavitkovsky said during a meeting of the North Dallas Chamber of Commerce.

"To create a sustainable neighborhood, you have to have a critical mass of residential."

Mr. Zavitkovsky estimates that the private sector has invested more than $640 million in the downtown area during the last 10 years.

Still recovering
But downtown Dallas still hasn't recovered from the crash of property values in the early 1990s.

The current building boom will help – at least on the residential side.

Redevelopment of the Union Tower Complex, the Republic Bank Building, Gulf States Insurance Building and the Mercantile National Bank Building will add more than 1,000 apartments downtown.

"It's probably more than the market can handle in one period of time," said Greg Willett, vice president of research for M/PF Yieldstar Inc.

"But it's not too aggressive when you look at the big picture."

The larger central Dallas market – which includes both downtown and neighboring Uptown – was about 94 percent leased at the end of June, according to M/PF Yieldstar.

That's better than the citywide market but a little less than historical performance in the central city.

Mr. Willett said the outlook for downtown is good because leasing remains strong.

"While there wasn't much apartment demand in Dallas-Fort Worth as a whole in the second quarter, 'in town' was one of the few areas posting solid momentum," he said. "As you get a bigger residential base down there, you will establish downtown as more of a mainstream location."

Along with the apartments, several developers are building more than 350 units in condominium projects downtown.

Sales are already under way at the Metropolitan building at 1200 Main, the SoCo Lofts on Jackson Street and One Arts Plaza in the Arts District.

And owners of Main Street's historic Kirby Building – converted in 1998 from offices to 150 apartments – are remodeling for condominiums.

"We are starting on interior construction this month," said developer Ken Hughes.

"We'll start converting the units to condominiums at the first of next year."

Rentals tower
But apartments still dominate the market.

Spectrum Properties will have more than 160 apartments in its redevelopment of the historic Gulf States Insurance and Mayfair Department Store buildings – including new units on top of the Main Street parking garage.

"The Gulf States Building will be finished by the end of October," said Spectrum's Brian Bergersen.

Mr. Bergersen said the completion of so many apartments downtown "may hurt for a little while."

"But you definitely need the rooftops to support more retail downtown," he said.

And more to come
Gables Residential will begin leasing about 230 units in the Republic National Bank Building later this month, with rents averaging about $1,800.

"We'll have the first units ready at the end of December or early January," said Gables' Doug Chesnut.

"I'm not worried about the downtown market because I think we can absorb the units.

"What we have to have is a lot more people living downtown."

To help lure renters to the core, DowntownDallas will launch an advertising and marketing campaign next month, said John Crawford, chairman of the business association.

"Nobody has ever done this before, and we want it to be a sophisticated program," Mr. Crawford said.

"We'll be putting money into it along with residential developers to coincide with the new product coming on line.

"This is going to be a real important test of the downtown residential market during the next 12 to 18 months."

So far, downtown residential projects have won high marks from renters.

Hamilton Properties – which is on its third apartment redevelopment downtown and already has another planned – has done well with its Dallas Power & Light complex, which opened late last year.

"Our projects have really exceeded our expectations," Mr. Hamilton said. "We are 96 percent leased at DP&L.

"We are going to have the first 70 units available for move-in at Mosaic [formerly the Fidelity Union Complex] right about Thanksgiving," he said.

And Hamilton Properties has already bought another old building to redo. The Santa Fe IV warehouse on Young Street will house 52 apartments and 117 hotel rooms.

"We plan to start work on that next spring or summer," Mr. Hamilton said.

E-mail stevebrown@dallasnews.com

[moopinator]

I just rented a loft at Third Rail and my scheduled move in date is January 1, 2007. The leasing office is open and the entrance is on Akard Street. Right now they are offering $500 off your first months rent. Also, they have a limited number of units available on the In Town Housing Plan. If you go tell Annie or Donna the Moopinator (or Misti) sent you, since I get a credit for referrals. :D


Photos from the Model

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/LivingArea.jpg

Living

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/Kitchen3.jpg

Kitchen

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/Kitchen2.jpg

Another kitchen view

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/Kitchen1.jpg

Kitchen again

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/Bedroom.jpg

Bedroom

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/BathVanity.jpg

Bath - Vanity

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/BathVanityDetail.jpg

Floor Plans for 1415 Main Street

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/UnitK833SF.jpg

Unit K 833 SF

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/UnitH800SF.jpg

Unit H 800 SF

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/UnitF544SF.jpg

Unit F 544 SF

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/UnitB1007SF.jpg

Unit B 1,007 SF

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/PlanA713SF.jpg

Unit A 713 SF

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/PlanJ668SF.jpg

Unit J 668 SF

http://i33.photobucket.com/albums/d96/moopinator/third%20rail/UnitL736SF.jpg

Unit L 736 SF

[hamiltonpl]

Those look very, very nice!!

[moopinator]

I know. Impressed me enough to make me want to move. I was just browsing

[freewaytincan]

Those are some funky layouts.

[AZDallasite]

How much are those renting for? Very nice escpecially for apt's.

[moopinator]

The price varies. The one I am moving into is about a $1,000 (Plan A, 713 SF). Of course, parking is extra ($100 per month).

[Boredkid]

are the units over the parking garage going to be ready by the first of the year or will the parking garage just be finished by then?

[moopinator]

Just the garage. 1415 Main, the original Gulf States Building, will be the first part to open. I don't think the stuff over the garage opens until sometime next summer.

[Gordo]

CVS interested in space at 1407 Main (Third Rail Lofts - new building). Wonder if the city will offer incentives or not...

http://www.dallasnews.com/sharedcontent/dws/news/localnews/stories/DN-cvs_14met.ART0.North.Edition1.3e49e75.html

Dallas: Pharmacy has plans for building on Main, city officials say

12:00 AM CDT on Thursday, September 14, 2006

By DAVE LEVINTHAL / The Dallas Morning News

Drugstore chain CVS is planning to open a store in downtown Dallas inside a Main Street building now under construction, City Hall officials say.

"They have expressed interest," Dallas Economic Development Director Karl Zavitkovsky said Wednesday.

The city previously made the location, between Field and Akard streets, eligible for up to $725,000 in retail recruitment incentives in hopes of luring business to downtown's core. A City Council-appointed retail recruitment committee would first consider whether to offer CVS any incentives, and the council would probably vote on any incentive package.

"CVS is a major credit tenant, and the retail program to date hasn't funded this type of tenant," Mr. Zavitkovsky said, noting that more than $2 million in other retail recruitment dollars have primarily gone to smaller, independent retail operations.

"We're continuing to look for new locations in Dallas," said CVS spokesman Mike DeAnglis, but he declined to comment on whether it had plans for a Main Street store.

City officials have long sought a street-level downtown drugstore and got one last year when a CVS opened recently in the West End. But it's more than 10 blocks away from downtown's core, where the majority of downtown residents live.

Grocer Urban Market operates on Jackson Street, two blocks away from the proposed CVS site on Main Street, but it doesn't sell prescription drugs. Urban Market officials, who are in talks with city officials over additional public incentives, declined to comment on potentially competing with a CVS store.

E-mail dlevinthal@dallasnews.com

[Justin Terveen]

That is awesome!

[Tnekster]

Main street is going to be buzzin.

[barrycb]

I wish it would go on the Elm side...preserve Main street for non-service retail.

[Tnekster]

CVS is smart to get a foothold on downtown before others do.

[elmstreetdallas]

Why in the world would anyone paying $1,500 a month for a one-bedroom apartment want a CVS Pharmacy in their building? And why would the city give CVS financial incentives when they've already built a location downtown WITHOUT incentives? Bizarre.

[CityLove]

I wish I had a CVS pharmacy in MY building. All those times I run out of diet coke and don't feeling like walking across town to get one...this would be perfect. So it's a chain...I'm OK with that. It serves a need, and it sure as heck looks better than those crummy liquor stores with bars on their windows.

[crescentboi]

I fully agree TG2...when I lived at The Davis, I would have always shopped at the CVS. Main Street should have a couple of "service" oriented retail on it, just not clogged with them.

[Boredkid]

is there going to be a cvs in every new building downtown?

[clipper]

No. Some will have Walgreens.

[Tnekster]

Wouldn't it be interesting if suddenly Walgreens wanted a store downtown. When that starts to happen they can cut off the incentives.

[US75Guy]

I wonder if this means closing the CVS in the lower lobby of the B of A Plaza on Main Street? Don't see how it could stay open.

[FoUTASportscaster]

There are a few CVS stores underground.

[TexasStar]

09/29/2006

http://TexasStar.smugmug.com/photos/98760746-L.jpg

[kenc]

I wonder if this means closing the CVS in the lower lobby of the B of A Plaza on Main Street? Don't see how it could stay open.

10,000 office workers directly above, and El Centro nearby. The CVS in 1001 Ross will close before that one does.

[cowboyeagle05]

That Bank Of Amercia CVS, when I'm down there is always rather full and the one under Main Place closed a couple months ago.

[FoUTASportscaster]

From today
http://img137.imageshack.us/img137/3174/1019080gs1.jpg (http://imageshack.us)

http://img167.imageshack.us/img167/5787/1019081ew6.jpg (http://imageshack.us)

http://img167.imageshack.us/img167/9262/1019082pr3.jpg (http://imageshack.us)

http://img154.imageshack.us/img154/1401/1019083ty8.jpg (http://imageshack.us)

http://img154.imageshack.us/img154/2666/1019084ln2.jpg (http://imageshack.us)

[elmstreetdallas]

Sportscaster--

Is the parking garage structure next to the Gulf States building about to top out?

[FoUTASportscaster]

No, it is supposed to be a 17 story building. It is currently at 9.

[Gordo]

Saw them taking down the construction elevator from the Gulf States Building this afternoon. They must be done with the heavy interior work there - perhaps our newest DT neighbors will be moving in before too long...

http://img142.imageshack.us/img142/4242/tre1se9.jpg

A little while later...

http://img153.imageshack.us/img153/7452/tre2za9.jpg

Haven't been back by, but I suppose the rest of it is probably gone by now...

Another step closer to the start of our next wave of new DT residents, with Gulf States, Republic, Mosaic and Metropolitan slated to start kicking in over the next few months... :thumbsup:

[Gordo]

Saw them putting up the new signage for 1414 Elm today. From across Elm St...

http://img150.imageshack.us/img150/5505/tre4qo4.jpg

Other side of sign, from across Akard...

http://img100.imageshack.us/img100/1061/tre5gf5.jpg

I like how this sign echoes the Gulf States signage at the other end of the block...

[msutton]

I like these signs a lot. They're giving a nice character to the block, or so it seems from the pictures.

[FoUTASportscaster]

Occupation for these units is supposed to be in October, acording toSteve Brown's article in the DMN from a couple of months ago, though I'm not sure if that is realistic. Novemember seems more likely.

[Gordo]

I like these signs a lot. They're giving a nice character to the block, or so it seems from the pictures.
Agreed - this section of Akard between Main and Elm is shaping up to have a nice lively feel to it. Street-level restaurant/retail visible up and down the block, new residential balconies overlooking from the 1414 Elm building, the stylish residential signage on both ends, etc.

Speaking of the retail on this block... I noticed that the new Italian eatery going in at SE corner of Akard and Elm (Ciao Bella, underneath the Kirby parking) has put up their signage...

http://img127.imageshack.us/img127/2750/ciaobella3wt6.jpg

[SDORN]

Ninja where are you pix of this, you live right across the street?

Haven't been downtown much lately too busy it is going to get worse from here on out.

Nice work on the pix everyone thank for keeping us up to date all.

[Lionel Hutz]

I noticed that the new Italian eatery going in at SE corner of Akard and Elm (Ciao Bella, underneath the Kirby parking) has put up their signage...
I think that's the old Granada Market that we were talking about earlier in this thread. I didn't think that space would stay empty for long. Glad to hear somebody is doing something with it.

[crescentboi]

I'm just surprised that it's an Italian place. Already within a two block radius there are three Italian restaurants. I was really hoping it was going to be another small market. But I'm just happy it is being filled!

[crescentboi]

They have the new lighting up for the ground floor on the Gulf States Building and they are nice traditional looking sconces, but a cool feature I noticed early in the morning last weekend, is that they have the color changing lighting like the Davis aimed up towards the 2nd and 3rd floors.

[Gordo]

^ nice... I like...

[Justin Terveen]

i have quite a few more... just can't seem to find them


MIA
*Gulf States exterior lighting
*1414 elm signage

From the Adolphus Tower's roof

http://i43.photobucket.com/albums/e352/ninjawerk/th_AdolphusTower_13copy.jpg (http://i43.photobucket.com/albums/e352/ninjawerk/AdolphusTower_13copy.jpg) http://i43.photobucket.com/albums/e352/ninjawerk/th_AdolphusTower_12copy.jpg (http://i43.photobucket.com/albums/e352/ninjawerk/AdolphusTower_12copy.jpg) http://i43.photobucket.com/albums/e352/ninjawerk/th_AdolphusTower_9copy.jpg (http://i43.photobucket.com/albums/e352/ninjawerk/AdolphusTower_9copy.jpg)

[Justin Terveen]

you can kind of see the new lights if you look closely....

http://i43.photobucket.com/albums/e352/ninjawerk/th_DallasFromTheAdolphusTowercopy.jpg (http://i43.photobucket.com/albums/e352/ninjawerk/DallasFromTheAdolphusTowercopy.jpg)

[SDORN]

Nice work there.

[dizzy]

I wish they would cover up all of that machinery on the roof.

[Justin Terveen]

it shouldn't be there to begin with..........

it'll be so effing loud at kirby roof-side next summer...... thanks third rail.

[Boredkid]

Its sad how ugly american cities look from the sky. I never understood why all these flat roofs are used as dumping grounds for machinery. So much wasted space that could be used as roof top decks or something.

[slfunk]

Its sad how ugly american cities look from the sky. I never understood why all these flat roofs are used as dumping grounds for machinery. So much wasted space that could be used as roof top decks or something.

Well unless you have a superstructure like the BOA building of 72 plus floors it does not make any feasible sense to place the machinery on a floor in the building. You would loose leaseable space, or build structural elements that would not reap any real reward to the patrons or owners of the building. The alternative would to be putting the equipment on the ground floor adjacent to the building or underground (which would require very expensive venalation equipment, structure support etc. etc. Usually public projects or superstructures have that budget (like the Fed Reserve here), but not a 16 story building. When designing the building the fact of the matter is that the majority of people will not see the roofs the building, so asethically it is not a major concern.

[Justin Terveen]

our towers are on the garage's 6th floor - then raised another level or so...

that's the only place they could go when the pool was added...

[hamiltonpl]

Its sad how ugly american cities look from the sky. I never understood why all these flat roofs are used as dumping grounds for machinery. So much wasted space that could be used as roof top decks or something.

Our alien overlords must think we're slobs! Why can't we have dainty little splashes of color on the tops of buildings?

Or to put it in more eloquent terms, who cares?