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

[crescentboi]

but I'm not too sure about the large setback on the western side of the lot

It might be because they don't want all the windows on the side of the Davis being right next to theirs if their planning on windows on that side. I'm hoping that how the building sets back on the Gulf side of it means they might have a pool or something on top of that part like at the Marquis on McKinney.

[jsoto3]

And there is an alley between the Davis and 1407 Main St. that they have to maintain.

The rendering looks to be about the right scale for that program.

[gc]

^ Nice, I missed that somehow.

Completion date of March '05? Is that for the entire project or just one piece of the pie?

[crescentboi]

They must mean March of '06 cause I can't see how you could re-do that entire building in 5 months. But it will be nice to see them start on this. Once that happens Main Street will be busy with construction at El Centro, Cascades, Gulf States and the new boutigue hotel across from Metropolitan. Very cool!

[drumguy8800]

And then the Merc, right. Whatever happened to that proposal that everyone was so sure would go through?

[Columbus Civil]

It went the way of all past Merc proposals.

[crescentboi]

So is it confirmed that it's dead? I was just hoping that since the "leak" a couple months ago about some of the info that they are being especially quiet....or at least that's what I'm hoping. If the city let this one slip I'll be incredibly upset.

[Columbus Civil]

So is it confirmed that it's dead?

I don't think it is, but I've come to expect nothing when it comes to the Merc.

[drumguy8800]

If the city let this one slip I'll be incredibly upset.

I don't think it is, but I've come to expect nothing when it comes to the Merc.

Arg. such a great location.. I can't believe that they can't get the thing developed.

[Columbus Civil]

I bet Arlington could.

[crescentboi]

I bet Arlington could

LOL! :D

[pariah]

but since arlington does not have anything remotely as great potentially, we don't need to worry about that

[John T Roberts]

That old alley used to be a street. That is why the Davis Building has stone on that facade. I also think some type of easement is maintained there.

[crescentboi]

Actually in the city's eyes they still consider it a street in a sense. They have been throwing out parking tkts the they're candy.

[geosophy]

It is a street called Four Way Place. You would think the city would street signs up so people would know it is a street and all.

[aceplace]

It is a street called Four Way Place. You would think the city would street signs up so people would know it is a street and all.It's such a sorry organization in so many other ways, you could hardly expect rational street naming out of them.

For example, most municipalities have two streets that meet at a 90 degree angle, and they distinguish them by giving them different names. We have two streets, both called Turtle Creek Boulevard, that meet at a 90 degree angle.

Should I use the term 'we"? Now that I think about it, do I want to identify myself with the "Municipality of Dallas"?

Naaah.... I'll say "they", not 'we".

[drumguy8800]

And how about Cedar Springs magically ending and starting up again..?

Or that 342 turns from Lancaster Ave to Corinth St to Industrial to Market Center.. and then.. RL Thornton is the designation for I-30 east of the mixmaster, and I-35E south of it? And how about McKinney splitting into Carlisle and McKinney, and then Carlisle becomes Cole, which intersects with Lemmon Ave followed by another intersection with Lemmon, but if you go down the first lemmon, you go to the OTHER cole. Then Houston St splits into Marsalis and Zang, and Zang disappears into 35E, and then Valley View dissapears into I-635, and Inwood disappears into the Tollway, and for some reason, Preston road splits up two major street grids in north Dallas and the northern suburbs. Oh, but it doesnt as you go farther south.. and Preston, at Armstrong, becomes Oak Lawn.. and.. and.. and..

And then there are like 19 street grids that converge in the center city. The best street grid is the one used by mid-southern Oak Cliff, DeSoto, and Cedar Hill. Perfect, 90° angle grid streets. I don't mind modified street grids.. a few curves is nice.

[slfunk]

There is now a construction trailer in the Davis Lot, I am assuming this is the construction trailer for the Gulf States building, since it was announced last month that construction was to start by the end of October.

They have also put plastic on the inside of the large windows of the 2nd and 3rd floors. Definite signs that construction/demolition has started.

[gc]

^ Awesome. Thanks for the update.

[Jack Flack]

That is such good news.

Having the Gulf States occupied plus whatever goes in on the Davis Lot will really help that part of Main Street. Pegasus Plaza will finally be framed by occupied buildings on all sides hopefully adding to the vitality of that area.

[drumguy8800]

There's a thread that has the rendering of the new building going in on the Davis lot.. 1210 main condo conversion thread, maybe?

[gc]

$50M project to fill Main St. gap
City, county will provide $8.5 loan for 'vital' complex in downtown Dallas
Christine Perez - Staff Writer
http://dallas.bizjournals.com/dallas/stories/2004/11/08/story1.html?page=1

Spectrum Properties Ltd. is filling a big gap along Dallas' Main Street with a $50 million project blending redevelopment and new construction -- the first new construction that street has seen in 10 or 15 years. The three-building complex will add 185 apartment units, 30,000 square feet of retail space and a whopping 550 new parking spaces off Main between Akard and Field streets. Spectrum will do 68 apartment units in the Gulf States Building at 1415 Main St., which it acquired last month, and 25 units in the Stewarts Building at 1414 Elm St., which it has under contract. Both will include ground-level retail.

Another 90 units will be part of a new, 16-story tower at 1407 Main St., which also will include 20,000 square feet of retail space, six levels of parking and a rooftop deck and pool. Spectrum will get help from the city of Dallas and Dallas County in the form of a 10-year, $8.5 million loan, part of a Chapter 380 economic development program. In lieu of interest on the financing, the city/county will collect net parking revenue on the public parking spaces Spectrum plans to build. Edward Okpa, principal at The Okpa Co. L.L.C., a commercial real estate brokerage, helped Spectrum put the deal together.

"Everything is moving at a fast pace, which is unusual, especially for downtown," Okpa said of the project. "But Spectrum came in with the financial resources and a proven track record -- exactly the type of company the city wanted to work with it."

Upside potential

Launched in 1993 by real estate executive Brian Bergersen, Spectrum has developed about 1 million square feet of space in North Texas, mostly multifamily and retirement communities in suburban markets. This is the company's first foray downtown. "We feel the market is in a growth mode and offers a lot of upside potential," Bergersen said. "There aren't a whole lot of rehab opportunities left downtown, especially on Main Street." Spectrum has already begun work on the Gulf States building, which will include 70 apartment units and ground-level retail. Built in 1928, the 17-story, 81,800-square-foot tower has been vacant for about 20 years. The project should be ready for occupancy in about 14 months.

Next up is 1407 Main, which will include 20,000 square feet of retail, five or six floors of parking, topped by 90 apartment units. About 180 of the parking spaces will be set aside for Spectrum residents, leaving 370 for public use. Twenty-five units will be built in the Stewarts Building, a six-story, 30,000-square-foot facility built in 1946. It also will include ground-level retail. The apartments will range from smaller one-bedroom lofts in the Gulf States and Elm Street buildings, to large three-bedroom units in 1407 Main. Bergersen has not yet named the three properties. "They will have separate identities but a single purpose," he said. "They will share a leasing center, amenities and parking and be part of a single development."

A vital link

Nancy Hormann, executive director of the Downtown Dallas Partnership, said Spectrum's projects will provide a vital link along Main Street. "It absolutely fills a big gap along Main Street, making the whole area from Field to Harwood contiguous," she said. "And the parking will be phenomenal." Hormann said she hopes more retailers will be lured downtown by the 30,000 square feet Spectrum is developing, plus the financial incentives available. "The retail incentive program will subsidize a tenant's rent for two years and pay for a portion of tenant improvements," she said. "It was a little slow to start, but now as the word is getting out, it's creating a real momentum."

Residential developers such as Hamilton Properties, which put 183 units in the Davis Building adjacent to Spectrum's properties, have had good luck filling their projects. Greg Willett, director of research at Dallas-based M/PF Research Inc., said all of urban Dallas has performed well. "The whole area is in pretty good shape; demand has been strong," he said. "Virtually all of the new projects coming online have leased up well." Bergersen praised Dallas city administrators, who he says often get overlooked, as well as residential pioneers like Hamilton that have paved the way for Spectrum and other developers. "Five years ago, I wouldn't have looked at going downtown," he said. "But even in a down market for multifamily, downtown has shown good rental rates and absorption. The downtown market has proven it has staying power."

[freewaytincan]

Excellent news. Interesting that 1407 Main will have public parking.

[dallastophoenix]

Interesting that 1407 Main will have public parking.

i hope that more projects downtown start to provide additional public parking... it could make or break the success of these projects downtown...

[US75Guy]

Wow! THis is a huge deal! So the new tower at 1407 Main street will be replacing the parking lot between the Davis Bldg and the Gulf States Bldg, right? That is just the kind of infill we need in the CBD. Main Street is going to have some density after all.

Parking structures are fine when they include some ground level retail/office. It provides continuous storefronts at the ground level.

This sounds REALLY exciting!!

[US75Guy]

Latest news: They have constructed a chain link security fence on the Main Street side to keep people away from the construction entrance. Also, they have started tearing up the sidewalk out front. Great to see some activity at the site.

[drumguy8800]

w00t! I'll have to have a look tonight. Thanks, US75

[John T Roberts]

I realize I'm a little late in commenting here, but the appearance of plastic inside the windows is an indication of asbestos abatement.

[tamtagon]

Akard may get 60 lofts
Gulf States Building could revive corner on Main Street

09/23/2002

By STEVE BROWN / The Dallas Morning News
...
After the Gulf States Building is remodeled, the Mercantile National Bank Building will be the last historic skyscraper along Main Street that hasn't been restored.



Well, it took just over two years and an ownership change before this building rennovation started. Good luck to Forest City and the Mercantile National Bank Building.

[F4shionablecHa0s]

Can someone post a picture of this building? I'm sure I've seen it a hundred times before.....

[drumguy8800]

Can someone post a picture of this building? I'm sure I've seen it a hundred times before.....
http://www.ovillachurchofchrist.com/derek/collection/05010404s.jpg

The brown one. (NW Corner of Main & Akard). And although the next picture is a rather dark one, it shows the top:

http://www.ovillachurchofchrist.com/derek/collection/05010403s.jpg

This renovation, plus the addition of the parking garage/apartments/whatever else @ the Davis Lot is really going to fix that intersection up. I'm ready for this to happen!

[clipper]

Actually Mr. Brown was wrong (no surprise). Along with the Mercantile block there is the empty Praetorian Building at Main and Stone Place mall. It was Dallas first true "skyscraper" and was ruined in a 50s makeover.

[effulgent]

I'm glad they've started renovating it. There's a lot of tagging graffiti all over it, which is hideous and slightly intimidating. Hopefully that will be one of the first things they fix.

[slfunk]

Shortly after I posted there being a construction trailer there. I saw someone had broken in that night and graffiti'ed the building. Think its part of the improved wall art. Seriously though, we have had a lot of problems lately in downtown and around uptown of kids spraying graffiti. Amazingly this building was kept rather clean of graffiti until now.

[Jack Flack]

Construction should really start taking off soon. During the day on Sunday construction crews were installing an exterior construction elevator to the front of the building

[gc]

^ Thanks for the update JackFlack. It is really exciting to imagine the final outcome and the overall change these conversion will have on DTD....Gulf States, DP&L, Interurban, The Merc, Mosaic, and whatever else transpires in the coming months.

[tamtagon]

Ya, it's satisfying when real work follows all the talk and speculation.

[crescentboi]

Here's a picture I took yesterday. Sorry it took so long to post, got a new phone and so have been trying to figure out how to use it and upload everything! I can be really blonde at times!

[freewaytincan]

I hope I'm doing this right. Here are pictures from yesterday.

[gc]

Nice.

[tamtagon]

I really like that building.

[F4shionablecHa0s]

Anyone else wondering how long it'll be before they run out of old buildings to convert and have to start building from scratch?

[barrycb]

Too long, unfortunately. There is still the Merc, SBC has about 3 potential converts west of the DP&L building, the two story loft buildings along Elm, and TXU still has a couple of developable buildings at Jackson and Harwood. Then they will likely move to the 50 & 60-something buildings like 1200 Main (which is already slated for condo conversion) and 1600 Pacific. There might be a couple of new infill projects like the one between Gulf States and the Davis, but I don't expect to see much for at least 10 years.

:(

That is, unless it becomes really fashonable to live DT and they can steal some of the current Uptown crowd.

:)

[rantanamo]

all it would take is one brave builder to throw up a Mondrian downtown. In our sheep society, other builders would think they are missing something.

[drumguy8800]

all it would take is one brave builder to throw up a Mondrian downtown. In our sheep society, other builders would think they are missing something.
Maybe Glacier Tower (http://forum.dallasmetropolis.com/showthread.php?t=3289)'s gonna be in DT.

[US75Guy]

They are really working hard on this building. Lots of activity as I watch from my office window. It is great to see so much activity and life at this building.

Has anyone released any plans for the empty lot between Gulf States and the Davis? I've heard a retail/residential combo, but I don't know if that was just dreaming or reality. I really want the new building to stretch all the way back to Elm.

[crescentboi]

These are two pics I took about a week ago. Sorry it's got the blue tint to it...was just trying to have some fun!

They were doing some major digging next to the building, but those holes are now filled in so I don't know what they were doing.

[gc]

Thanks for the update. I had almost forgotten about this renovation.

[crescentboi]

Here's two pics from today. Not the greatest quality because of lighting and being in a rush. Sorry.

[crescentboi]

Here's a pic from today. They're patching up some of the old windows one first (2nd?) floor where I'm guessing the new tower will meet up with it.