The Davis Building

[CTroyMathis]

THINGS ARE LOOKING BRIGHTER in the downtown neighborhood:


Skyscraper to get new life
Partnership plans to turn Davis Building into apartments, shops

03/16/2002

By STEVE BROWN / The Dallas Morning News

A partnership of private and public sector investors has announced plans to convert downtown Dallas' empty Davis Building into loft apartments and street-level retail space.

The $35 million project was unveiled Friday by the Downtown Dallas Partnership, a group of downtown business and economic development officials trying to revitalize the city's old financial district.

Davis Building owner Hamilton Properties Corp. of Denver is teaming with local developers, the city of Dallas and the U.S. Department of Housing and Urban Development to renovate the 76-year-old downtown skyscraper.

Other participants in the venture include Chevron Corp. and TXU Energy Solutions Co.

Funding for the redevelopment was arranged with Bank of America's community development program by Dallas mortgage banker Holliday Fenoglio Fowler LP.

The empty building at 1309 Main St. will be converted into 183 loft apartments averaging 1,033 square feet in size.

Architectural plans call for balconies to be added to many of the apartments.

The ground floor of the building will contain space for shops and restaurants.

Construction is set to start in April and be completed in June 2003.

Built in 1926 as the headquarters for Republic National Bank and renamed the Davis Building in the 1950s, the 20-story structure is one of the last large empty office towers along Main Street.

The classical-style stone building, with columns in front and a roof-top cupola, has been vacant for more than a decade.

Several proposals to reuse the old office tower have fallen though.

'A major step'


"The closing of the construction financing on the Davis Building is a major step in the revitalization of Main Street," said Gerry Sampson, chairman of the Downtown Partnership Inc. "It is a beautiful historic building that just needs to be enhanced and refurbished to become vibrant again.
"Because of the Davis Building's position on Main Street, it becomes a major anchor and an all-important resident base," he said.

BGO Architects has been hired to plan the redevelopment.

Madison Retail Group and Gosnell Real Estate will handle retail leasing.

The Davis Building redevelopment will include improvements to the attached Metropolitan Garage, a 608-space parking garage that will provide parking for the apartment residents and guests. The garage will also house a rooftop sundeck, pool and hot tub, and a private health club is planned for the basement.

J.A. Jones Construction Co. has been selected as the general contractor.

Hamilton Properties' other redevelopment partners include Regent Partners Inc. and Barker Nichols LLC.


The Davis Building redo is one of two Main Street redevelopment projects in the works.

Other downtown redos


Dallas developer Henry S. Miller III has just made an offer to purchase the former Mercantile National Bank complex four blocks away and turn it into retail and apartment space.
Other historic downtown buildings that once housed offices – including the Kirby Building, the Wilson Building and the Magnolia Building – have already been converted successfully into apartments and hotel rooms.

[KelleyUSA]

I actually drove by this structure the other day becuase I wanted to see what the building looked like. This is a GREAT building and has tons of potential!! The architecture is pretty cool- would definitely look awesome if they cleaned up the exterior. I think this will be a winner! Also- one thing I noticed is the distance between the Mercantile Bldg. which is also slated for re-development. They are on completely opposite ends of each other- which I think is great. Starting re-development on both ends will hopefully carry down to the middle- I think this may actually speed up the Main Street process..

[jsoto3]

a building i think would be excellent for housing redevelopment is 211 ervay, between elm and pacific. it's a thin sliver of 17 stories, a block deep and maybe 40 feet wide, and is freestanding (uniquely open on all sides), fronting on thanksgiving square, caddy corner to republic center. it's the one with the turquoise cladding. would have to renovate the skin, maybe a really sleek, high tech aesthetic. think about it: as many as eight or ten units and as few as one or two units per floor, with balconies! ground floor retail!! the location is perfect!!! however, i hear someone plans to demolish it. why? i don't know. they must be crazy. i wanted to buy this building someday and redevelop it myself. hopefully i can get some serious financing before they demo it. anyone interested in partnering with me in this venture? troy, you probably make some serious cash doing what you do, what do you say?! otherwise, i may just have to make those idiots an offer they can't refuse.

appraisal info (http://www.dallascad.org/dcadcom.cfm?theKey=00000100849000000&thecheck=0)

http://jsoto3.netfirms.com/images/211 ervay.jpg

http://jsoto3.netfirms.com/images/211 ervay map.gif

[jsoto3]

i've got tons of ideas if anyone is seriously interested in getting into some real estate action. i'm an architect/urban planner/designer (graduate student), so i know my stuff. i plan to become a developer, but i don't have any cash behind me yet. and my $70k college debt doesn't help. so i will need some investors. if you guys know any, send them my way.

[John T Roberts]

The Davis Building:
http://www.miduppertexas.com/dallas/davis.jpg

Jsoto3, 211 Ervay may be 50 feet wide because I think the lots in downtown were originally 25 feet wide. No matter what the exact width is, the building would be a good candidate for residential conversion.

[KelleyUSA]

Hey Jsoto- I'm sure if we all worked really hard we could find the money to help with the re-development of the building! We'd probably have to stand on street corners holding up cardboard signs- but what the hell right!! Actually- I have a great idea for a downtown park that would change the face and skyline of Dallas- it would be an ultimate destination for visitors and residents- but where would I begin my crusade? I definitely do not have the $$$ to buy the land much less everything to go in it! I would need help- perhaps I'll try and find Mark Cuban!!

[LonghornFan96]

This is another piece of good news for downtown. Plans are starting to take shape. I realize we have to be patient, but I really think momentum is starting to build and we'll see positive changes continue to happen...now if the City Council will just not screw it up!

[ianbryant]

This story was at globest.com. I'm SOOOO glad that this project is finally getting underway! What a great building!!! Once the mercantile complex project gets underway these two should really compliment each other and provide anchor projects for the two ends of main street.

$36M Dallas Loft Project Gets $16M Green Light
By Connie Gore
Last updated: Mar 22, 2002 10:47AM

DALLAS-A $16-million loan closing jumpstarts a $36-million loft and retail conversion at a historical Dallas building in the epicenter of a public-private project area that promises to recharge the downtown's retail component. Construction gets under way next week as an abatement crew sets up shop at 1309 Main St.
The 76-year-old Davis Building conversion will be the handiwork of Atlanta-based Regent Partners, Hamilton Properties Corp. of Denver and Dallas' Barker Nichols LLC. Reid Freeman, Regent's hospitality vice president, tells GlobeSt.com that abatement will require six weeks before construction can begin. Two floors or 21,104 sf are dedicated to retail and entertainment and 18 floors will be lofts. Five floors of lofts will be ready to occupy in winter 2003 and the remainder will deliver about four months later. Pre-leasing begins in August.

The financing alone has taken one year to piece together, says Tim Jordan, senior director for Holliday Fenoglio Fowler LP in Dallas. Bank of America provided the three-year construction loan, with two one-year extensions. The loan was floated at LIBOR plus 300 basis points. Additional financing came from the City of Dallas and HUD and TXU Energy Services. Chevron TCI Inc. bought the tax credits to facilitate the project. "Pulling all the pieces together took longer than anticipated," Jordan explains, crediting the borrower with "patience and perseverance."

Regent bought into the project last summer, culminating four years of planning by Hamilton and Barker Nichols. "We had the size that lent some credibility to what they are trying to do," Freeman explains. It's been at least a decade since Regent has undertaken a Dallas project and even then, it was primarily retail development as opposed to residential.

Freeman is the development officer in charge of the public-private undertaking, with Regent's Craig MacKenzie serving as project manager. Jurado Design Group of Dallas is charged with the interior design while Dallas' Beeler Guest Owens Architects LP holds the overall design contract. Regent's wholly owned subsidiary, J.A. Jones Construction Co., is the general contractor.

The high-rise was constructed in 1925 for the Republic National Bank and was once the city's tallest office building. Freeman says the development team has agreed to halt its National Register application and let the city lead the way in the spring when it intends to apply for a historical district status with the National Trust for Historic Preservation. The building's neo-classical design features a four-story base with a grand entrance in the center. A 20-story addition was completed in 1931. The structure has been known as the Davis Building since 1954.

Units, ranging from 665 sf to 3,000 sf, will have high-end finishes, high ceilings and open floor designs. Amenities include a pool, hot tub, exercise room, rooftop terrace and parking in an adjacent garage.

[CTroyMathis]

http://new.globest.com/images/storyimages/dallas_davisbldg.jpg

I've been looking forward to the Davis Building moving forward one day, and, now finally it is. This should be a great re-use for the building and it's yet another addition to residential on Main St.

[CTroyMathis]

211 N. Ervay...

Hmm..., you know, that does seem like a nice bit of property to convert to residential. And, like the non-existence of turqoise on the old Southland Complex, this one should definitely go the way of a modernised skin naturally.

That would be an interesting location!

[CTroyMathis]

By the way, 400 N. Ervay building is also being renovated into lofts.

[GarrettCarey]

I live very close to the Davis building and am more than excited to see it converted into a residential/retail unit. These are the types of developments that will be the catalyst of the revitalization of downtown........great progress.....let's get more!!!!!!!!!!!!

[Hunter Wadle]

I found the Davis Building's website today.......It is obviously under construction somewhat, but thier are great floorplans.....

http://www.thedavisbuildinglofts.com/

forgive me if this was already posted..........

[mdunlap1]

Can't wait to visit this one once it's completed.

[gc]

...and here is another link for The Davis and the project as a whole. --> http://www.thedavis.net/

[bloodandpopcorn]

I'm not a big fan of the 'overall' site (www.thedavis.net). However, the loft website is mch better, I just wish that htey would include construction pictures, etc.

Still, I can't wait for this to finish.

[JackZeta]

Good looking site, but it needs some work. Nearly everything,including the contact form,is non-functional

[gc]

Downtown's Davis Building is on its way back, but as apartments
06/27/2003 - By STEVE BROWN / The Dallas Morning News

When the Davis Building opened in 1926, it was one of Dallas' tallest skyscrapers and the center of the city's financial community.

But for almost 20 years, the Main Street landmark has been empty, all but forgotten among the city's newer towers.

The building's days as a dusty derelict will end next month.

That's when developers begin showing model apartments in the 20-story downtown tower, which is being converted for residential use.

"We're still under budget and only a little bit behind schedule," said developer Ted Hamilton, who is planning to move the first tenants into the Davis Building in nine or 10 weeks. "The cement for swimming pool on the roof is poured, and we're laying the tile today.

"And I've got interest from several retail tenants for the lower level retail," he said.

One restaurant owner wants to convert a section of the former bank building's huge vaults in the basement into a unique – and no doubt secure – dining venue.

"Everything's moving along, but it's sure been an educational process," Mr. Hamilton said.

That's usually the case with vintage building renovations.

Surprises in the Davis Building included second-floor structural beams that engineers didn't know were there. "When we tore the walls out, we found that these beams would be blocking the hallways," he said.

And Mr. Hamilton – who's from Denver – admits he knew next to nothing about redoing 1920s Texas skyscrapers when he came to Dallas a few years ago.

Now Hamilton Properties is redeveloping two of the city's downtown landmarks – the Davis and the Dallas Power & Light building.

"We hadn't done any renovation work like this since the mid-1980s," said Mr. Hamilton, whose company came to Dallas when Denver hotelier Steve Holtze was shopping for the nearby Magnolia Building.

"Steve Holtze looked at turning either the Magnolia Building or the Davis Building into a hotel," Mr. Hamilton said. "When he picked the Magnolia Building, we asked if he minded us taking a run at the Davis Building."

Ideal for apartments


Built as the home for Dallas' Republic National Bank, the classical-style stone tower with the cupola on top was used as office space until the early 1980s.

A botched renovation in 1985 left the building wrecked inside and in foreclosure.

Hamilton Properties bought the office building last year after studying plans to convert it into a combination of hotel and residential space.

As it turned out, the Davis Building was better suited for apartments. The 182,000-square-foot building adjoins a high-rise parking garage on Elm Street.

"We ended up having to buy the Metropolitan Garage to make the deal work," Mr. Hamilton said. "We paid $2 million for the building and $7 million for that garage.

"The tail that wags the dog in downtown Dallas is parking," he said.

Now the Davis Building has plenty – more than 600 spaces in the garage to serve 183 apartments.

Lofts in the building – which average 1,000 square feet – will start at about $650 a month. The most expensive unit is the $9,000-a-month, two-story penthouse that includes access to the building's rooftop cupola.

"We're putting in a spiral staircase up to the cupola, which will have a private hot tub in it," Mr. Hamilton said. "It ought to be the sexiest spa in the city."

Downtown redevelopment boosters don't need hot tubs to be happy about the $35 million Davis redo.

"Having people move into that empty building will make a big difference," said Nancy Hormann, executive director of the Downtown Partnership. "Every time we add one of these redone buildings, we get an increase in the population downtown."

Recent surveys show that apartment occupancy levels in the central business district are slightly ahead of the overall occupancy for Dallas-Fort Worth, and rent concessions are lower.

Opening the Davis Building will bring life to the 1300 block of Main Street, which has been largely vacant on the north side.

"That whole side of the block has been a dead zone, while across the street it's doing great with the restaurants," Ms. Hormann said.

Up next


And Hamilton Properties is already doing design work on its next downtown project.

In January, the developer bought the 72-year-old Dallas Power & Light Building two blocks away on Commerce Street.

The19-story, art deco style DP&L Building and the Continental Supply Co. building – both vacant – will be converted into t about 160 apartments. The redevelopment will include construction of a parking garage behind the buildings on Jackson Street.

"All of the original stone interior finish is left in the lobbies of the DP&L building, unlike in the Davis Building, where it had been removed," Mr. Hamilton said. "At the top of the building, where there used to be an auditorium with arched windows, we are going to have multilevel penthouse units."

Hamilton Properties is scouting for other projects in Texas, he said.

The company was a partner in the recently opened Magnolia Hotel development in Houston.

"And I'm looking for other stuff to redo in Dallas," Mr. Hamilton said. "Most good building stock in Denver has already been redone.

"We were looking at paying $40 per square foot for a crummy warehouse to redo in Denver," he said.

"We could come to Texas and get a trophy building to redo for a fourth that price."

[psukhu]

This is a great milestone for downtown.


Will the next major residential redevelopment be the Dallas Power & Light Building by Hamilton, or is there something coming online sooner?

[gc]

yes, i believe so....the DP&L is next on the list.

[chiboi]

I can't wait till they get started on the DP&L building. This is such a cool building to redo. Hamilton Properties seems to be making a big committment to Dallas.

[214]

does hamilton properties have a website i dont see why they wouldnt

[psukhu]

Does anyone have any info on the Davis Lot?

When do they plan on breaking ground on this development?

(high rise apartments with grocery store on the bottom)

[psukhu]

What it looks like as of 8-3-03:

[crescentboi]

Thats so weird that you posted pics of this yesterday! I was actually walking around there yesterday afternoon and took some pics of my own.

I just put down a deposit on an apartment on the 7th floor there. I should be moving in the beginning of October. They are awesome, but unfortunetly I have not seen them in person but have done the tours online and will be able to do a "In person" tour on 8/22/03. I'm very excited!

[DallasTexan]

Can I move in with you? :D

I think everyone here should join the adopt-a-Nashvillian program :p

[Columbus Civil]

I'm very interested in these.

We're currently living in Uptown and can no longer afford the rent. There are quite a few affordable units in The Davis. I hope they're not all gone by the time our lease is up in February.

[crescentboi]

Ummmm.........NO!:D

It should be great! I keep going back to the website and checking it out! but i'll try to post some more pics I took this afternoon if I don't get too caught up at work!

[crescentboi]

Here are some pictures I took of the Davis Building.

[crescentboi]

Oops! I couldn't get them to post! For some reason they aren't attaching to this. Sorry!

[gc]

Well i am not sure if anyone has already seen or heard about it, but the top of The Davis is illuminated! The dome at the top appears to be copper plated and at night......it lights up with various colors (similar to the spire atop the Republic Center).

I am not sure how I feel about it yet....but I have to admit that it adds another dimension to my view and adds some more color to DTD!

[bloodandpopcorn]

Hey, GC, do you think you might could get a picture for us?? This sounds intriguing!!

[crescentboi]

I've heard about that. I was also told that they are going to be placing a spa inside the cupola and that there's also a rooftop pool. Should be pretty neat to go up there and see the view!

[Columbus Civil]

Hurry up with those pics, crescentboi.

[Columbus Civil]

How much are you paying for parking? I see that there is a garage adjacent to the building..

[crescentboi]

Honestly...(this sounds so stupid!) I have not been able to figure out how to post the pics. I have a few of the Davis and many other ones I'd like to post.

If you want to see some interior pics go to their website and they just loaded some more.

As for parking...its $125 for assigned parking and $95 for unassigned parking. Of course these are per month rates.

[Columbus Civil]

Thanks for the parking info.

If you need a site to host the pics, you can email them to me at oneaggie@yahoo.com - I have plenty of space.

[psukhu]

from 8-10-03:

[psukhu]

(2) from 8-10-03:

[bloodandpopcorn]

Awesome pictures. That second one may be my new favorite downtown shot. Look at the density it implies!! Wouldn't it be great if all of downtown was like that?

This place truely is beautiful. I hope that it will, and fully expect it to, book fast and stay with good occupancy levels. This really is a treasure of Dallas' downtown... I just wish we had more amazing buildings like this, particularly being used for residential.

[gc]

Beautiful. That is the exact view I have, maybe a few stories higher. Paul, these are great pictures. I do not have a camera, perhaps you can take a good picture at night when the dome is illumintaed?!?!?

[CTroyMathis]

YOU are on a roll, Paul. These beautiful, up to date photos all over the forum have been an exceptional treat! Keep it up.

I'd definitely dig seeing some of that nighttime lighting scheme going on at the Davis, too.

[psukhu]

Are they lighting up the dome right now?

If so, I'll get that night shot.

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

If you like that view, you should consider an aparment at the Manor House.

[gc]

yes, the dome is illuminated at night. the view from the Manor House is exceptional.

[John T Roberts]

I can't believe how much better the building looks since it has been cleaned up. I would also like to see a nighttime picture.

[mdunlap1]

Hey, crescentboi...


They are awesome, but unfortunetly I have not seen them in person but have done the tours online and will be able to do a "In person" tour on 8/22/03. I'm very excited!

Did you ever take your tour of the Davis Building? How was it? Do they seem to be leasing many of the apartments?

[crescentboi]

Well I actually spoke with one of the leasing agents and unfortunetly there were delays in the delivering of appliances and such, so the building will not be open for tours until 9/02/03. So I'm planning on going at that time. I went by the building though this past Saturday and they were laying down the limestone flooring in the lobby. I was also able to peak into the windows on the first floor and I was amazed to the the original (I think) ceiling that had holes punched into it for when there was a drop ceiling on it. Quite sad. I guess its in the space that is to become retail/restaurant. I don't know as of yet exactly what's supposed to go in there, but as soon as I hear anything I'll let you know!

[bloodandpopcorn]

Can't wait to hear about your tour tomorrow... Be sure to take a ton of pictures for us! And ask about the Restaurant/any other ground floor stuff, see if we can get some info on that. Thanks, and have a blast... I'm so jealous!

[crescentboi]

Well...bad news once again. I spoke with a rep for the building today and they said that the building is complete and ready for tours, but that the only thing they are waiting on is the Fire Marshall's approval. which i'm guessing probably won't be today, because he was here at The Crescent! but they said as soon as he's been there, they'll be able to open. so here's hoping its quickly!

[leogrrl]

Just wondering if you had gotten a chance to go tour yet?