DTD: 400 N. Ervay / Post Office

[CTroyMathis]

$31M Dual Projects Mark Intradel's North Texas Inroad
By Connie Gore
Last updated: Mar 13, 2002 12:15PM

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

DALLAS-New Orleans-based Intradel Corp. is lobbing a $31-million play with near back-to-back loft projects in the sister cities of Dallas and Fort Worth as its inroad to the market.
Kerry Kirby, president and CEO of the 10-year-old Intradel, tells GlobeSt.com that April will bring the closing for 714 Main St. in Fort Worth and a construction start while the Dallas project at 400 N. Ervay St. is about six months from its launch. The projects will result in conversions of historic properties into urban lofts, a growing market in the region and the bait that lured Intradel to North Texas. In Fort Worth, 176 lofts will be carved out of the 1921 building while 91 units will sit atop a 27,000-sf US Post Office ticketed to open in Dallas' 1934 federal courthouse and former post office site.

Kirby says the historical integrity of the structures' exteriors will remain intact, but interiors will be gutted. Also being kept intact is the courtroom, including bench, of former Judge Sarah T. Hughes, who swore in President Lyndon Baines Johnson after President John F. Kennedy's assassination. The preserved space will be designated at the clubroom for the Lofts at Thanksgiving Square.

In keeping with Intradel practice, closings and project starts go hand in hand. Equitable Life Insurance Co. is the seller of the Fort Worth property, known around town as the Transport Life Building. In Dallas, the seller is the US Postal Service, which selected Intradel last fall from a field of 20 developers jockeying for the well-known landmark. The contract, signed in January, was accompanied by a 27,000-sf, long-term lease for a new first floor post office, according to Kirby.

Interest is running so high in the $17-million Fort Worth project that Kirby says 20 lofts already have been reserved, sans marketing, by applicants hitting the property's Web site and submitting forms on line. That, he says, validates Intradel's research about urban projects in the DFW metroplex.

GMAC Commercial Mortgage Co. of Horsham, PA is arranging the financing for the Fort Worth acquisition. Plano's Coldwater Solutions is the architect for both projects. Shreveport, LA-based Shreve Land Construction is Intradel's general contractor.

Fort Worth's Main Street Lofts will feature a mix of one- and two-bedroom units, ranging in size from 610 sf to 1,195 sf, and 7,000 sf of street-level retail. The 24-story building, sitting on 10,000 sf of land, is practically in the CBD's core and just three blocks from Sundance Square. The design is a "soft loft" concept with opens spaces and partial walls to define living areas. Each floor will be outfitted with a laundry area and units will be high-speed Internet wired to go along with an in-house intranet system for maintenance, management communication and e-tailers in the immediate area. Fitness, community and business centers are included in the design along with a theater room.

Situated in Dallas' CBD, the $14-million Lofts at Thanksgiving Square project also will have one- and two-bedroom units with the same "soft loft" concept and amenities as the Fort Worth undertaking. Units will range from 618 sf to 1,294 sf. The 91-unit project is "small for us, but it's a notable deal," says Kirby.

It will take about a year to complete the projects, once work begins. Intradel taps selective markets for multifamily projects, but this could be the first time that it's worked sister cities in near-simultaneous fashion. And, Kirby confides, Intradel is not done mining the opportunities of the DFW market.

[CTroyMathis]

moved up in case this story was missed. it's another bit of good news.

[John T Roberts]

These are good projects for both cities. The Transport Life Building is one of the few remaining properties on Fort Worth's Main Street that has not been redeveloped.

[mdunlap1]

Cool project... could the long-awaited CBD regeneration finally be underway? If these projects fill in well over the next couple years, the stores and nightlife will follow.

The Lofts at Thanksgiving Square (http://www.intradel.com/TheLofts/)

:smokin:

[GarrettCarey]

Yes, very cool project. The residential development has been steadily growing downtown.....and I think it will continue for a while. The stores and the nightlife are following, just a little bit slower. Hopefully we will see more announcements soon!

[crescentboi]

Does anyone know what the status/story is on the old Downtown Post Office. I went by there a while ago and saw that they were working on an underground parking garage and that the process on the building seemed to be moving fairly fast. Isn't it supposed to be apartments? I wonder when it will be finished. If that turns into apartments and the Republic Center goes to apartments, i think that it would prove to add a great boost of life to that part of downtown in the evenings.

[gc]

I believe the residential piece is on hold for some reason. But the ground floor will be a post office once again. I have emailed Intradel (the developer) and hope to hear something soon.

The Lofts (http://www.intradel.com/TheLofts/)

[crescentboi]

I e-mailed The Lofts and this is the reply I got, it actually took them less than 24 hours to reply.

"We are taking online unit reservations. Units will not be ready until 02-04 and pricing will range from $750.00 - $1,500.00 per month."

That was the extent of the e-mail. But they do have floor plans available on line.

[psukhu]

They should go fast at that price.

[chiboi]

It will be good to get a mix of housing costs in downtown.

[evdallas]

I din't see another thread about this so...
www.dallasnews.com
12:20 PM CST on Saturday, March 20, 2004



It may go down as the longest building renovation ever in downtown Dallas – and construction hasn't even begun.

Two years after developers signed an agreement to turn Dallas' historic U.S. Post Office and Federal Building into 95 loft apartments, the project is still pending.

"The deal is still in the works, and they are trying to iron out some contractual things with the developer," said U.S. Postal Service spokesman McKinney Boyd.

In March 2002, the Postal Service and New Orleans-based Intradel Corp. announced that they had reached an agreement to convert the top four floors of the 74-year-old building at Ervay and Bryan streets into loft apartments.

Although the post office has reopened its ground-floor retail station, work on the upper floors hasn't progressed as expected.

"We have been trying to overcome some obstacles here and there, but we're still going forward," said Intradel president Kerry Kirby. "We still think it's a great building."

The ornate limestone building with its colorful exterior friezes is one of downtown's landmarks.

Intradel plans to call its rental project the Lofts at Thanksgiving Square, and the apartments planned for the old courtroom and government office space will range in size from 523 to more than 1,200 square feet.

The project will also include a 1,400-square-foot fitness center and a 2,354-square-foot community room on the third floor.

Mr. Kirby said he hopes construction will start before the end of the year, providing that negotiations with the Postal Service proceed as expected.

"They move slow – that's all I can tell you," he said.

Steve Brown

[INTX dave]

Thanks for posting that. I just walked by there last week and was wondering what was going on and why it was taking so long. I hope the article is correct, and the US Government is just a slow partner, rather than something going wrong with the project in general.

[gc]

evdallas,
There was another thread on the forum about this property. I have merged your thread with the existing one. Thanks for adding that by the way! :)

[Quiz03]

Intradel was supposed to do a residential conversion in Fort Worth, but they had backed off of that a month or two ago.

[gc]

I did not know they backed out of their Fort Worth project. That is too bad. :(

Thanks for that update.

[John T Roberts]

Yes, they backed out of the Fort Worth project, but another group picked it up. The plans changed slighly by putting an automobile lift in the building and using levels 2 through 9 as parking. Currently, the asbestos is being removed from the building.

[aceplace]

An automobile lift? You mean that someone will drive their car into an elevator and raise it to the proper floor?

You know, there used to be a parking garage in Dallas a long time ago that operated like that. It looked like a giant Ferris Wheel for cars, except that it was not round, but vertical. Two cars wide and 20 cars high. You drive up, and the attendant rotates the wheel until an empty slot appears, and puts your car into it. When you want it back, he rotates the track until your car is on the ground.

[John T Roberts]

That is the plan. The building is the 24 story Transport Life Building at 7th and Main. For a short time (less than two years), it was the tallest office building in Texas until the Magnolia was built.

[gc]

Well that is great news John. Is there a website available? Renderings? Company name? Thanks for another update.

[US75Guy]

I'm looking for information on the old Post Office and Courthouse building downtown on Bryan Street. They were working on the first floor all last winter, and I had heard they were going to re-open it as a functioning post office for the under-served downtown market. But construction has stopped for several months and I'm not sure what's up. I had also heard the upper floors were going to be lofts. Any truth to this?

[Mballar]

Yes, to all. The Post Office downstairs has been open for about a year now. The lofts upstairs will be open at a future date. Parking is a major issue for that location.

[barrycb]

I heard they were also having problems with ingress and egress. Security is a big priority with the Post Office occupying the bottom floor, and there is no secure way in and out of the building after hours.

[freewaytincan]

I heard they were also having problems with ingress and egress. Security is a big priority with the Post Office occupying the bottom floor, and there is no secure way in and out of the building after hours.

Well, that explains why I can't get in.

[geosophy]

The website is up for the lofts (http://www.intradel.com/TheLofts/). They have yet to start construction on it though.

[gc]

Merged two threads as a previous one existed!

[freewaytincan]

Merged two threads as a previous one existed!

I don't see anything different...

[Wineguy2000]

The building is now for sale for 4mil.

[214]

any info on this project

[gc]

have not heard a thing in a long long time...

[clipper]

Last I heard they had given up on lofts and were going to use as office space.

[gc]

^ Thanks clipper. They sure don't publish the bad news very well do they?

[Insidetheloop]

I was just talking to some of the guys across the street at Republic and they said that the way that the asbestos was placed in that building makes it cost prohibitive to renovate. Nice building though. I think it would make a better office than a residential building due to the loud noise from the train. The noise really resonates through that block.

[dizzy]

The noise really resonates through that block.
I bet those bells are really loud as well. I can hear them loud and clear from The Davis.

[Insidetheloop]

I bet those bells are really loud as well. I can hear them loud and clear from The Davis.

I could never hear them inside Thanksgiving Tower.

The loudest noise and annoying noise at that intersection is the warning siren for the Republic Tower valet garage exit. It must be over 120db. It will almost knock you off your feet if you are walking on the sidewalk.

[effulgent]

I bet those bells are really loud as well. I can hear them loud and clear from The Davis.

I can also hear them loud and clear in the Wilson, especially at noon.

[Columbus Civil]

Urban hipsters shouldn't be bothered by city noises.

[effulgent]

Urban hipsters shouldn't be bothered by city noises.

I didn't say I was bothered by them, I just said that I heard them. :) Only a couple of times has noise bothered me downtown, and I hear noise all the time.

[barrycb]

I was just talking to some of the guys across the street at Republic and they said that the way that the asbestos was placed in that building makes it cost prohibitive to renovate.

Speaking of Republic, how is that coming?

[noelamador]

Postal building to go first class
http://view.atdmt.com/FUL/iview/nwsntful0140000095ful/direct;wi.468;hi.60/01&1783285036?click=http://ads.belointeractive.com/RealMedia/ads/click_lx.ads/www.dallasnews.com/home/1783285036/Bottom/OasDefault/NtlDrivePM1003GGGGGG-rmn/drivepm1fb82205.html/34323334333565373433363562623330?
1930s landmark will be refitted to hold luxury office spaces
12:00 AM CST on Wednesday, November 9, 2005
By STEVE BROWN / The Dallas Morning News

Another downtown landmark is getting a redo. But this time the project will create new office space instead of residential. Developers plan to convert the empty upper floors of Dallas' historic U.S. Post Office and Court House into luxury business space. "We envision a boutique office building that is very high in finish," said developer Shawn Todd, who plans to sell the space as office condominiums. "This building has features in it you couldn't afford to build today."

Constructed in 1930 of limestone and marble, the building at Bryan and Ervay Streets has been largely vacant since the 1980s. A recent renovation of the ground floor space included the building's ornate lobby and the post office's retail location. But the upper levels ? about 100,000 square feet ? have remained derelict. Earlier plans by developers to use that space for apartments fell through. "I don't think it works as a residential project because of the size and cost," said Mr. Todd, who estimates that it will cost $15 million to $20 million to refurbish the vacant floors that once housed federal courtrooms and office space.

As part of the project, the developers are asking the city of Dallas for tax abatements offered for historic renovation. The tax abatement will be on the value of the improvements, not the existing building and land. Since the property has been owned by the federal government, it has never been on local tax rolls, Mr. Todd said. Preservationists have given the deal their blessing. "We've been looking for a use for this building for 20 years," said Virginia McAlester, a Preservation Dallas and historic district board member. "We finally have a developer that understands the project." Dallas City Council member Angela Hunt, whose district includes downtown, said she supports the renovation.

"We are trying to entice people to adaptively reuse an old building instead of tearing it down and building anew," Ms. Hunt said. "You have to give owners some kind of incentive to do that." But the abatement won't pass without a fight. Mayor Laura Miller and City Council member Mitchell Rasansky say they'll oppose the abatement because it's too large. City Hall staff estimates that Dallas would lose more than $243,000 in property tax revenue over the next 10 years because of the abatement. Ms. Miller estimated the figure at more than $1 million. As part of the redo ? designed by architects Norman Alston and BOKA Powell ? the third-floor federal courtroom once used by Dallas Judge Sarah T. Hughes will be preserved as a common area. Marble and terra cotta lobbies and hallways and other historic features will be incorporated into the new offices, architect Don Powell said.

"There are lots of companies that would find this kind of space ideal," he said. Very little office space has been constructed in the central business district in the last decade. But the historic building and its location on DART's light-rail line at Thanks-Giving Square will make the property attractive, Mr. Todd said. "There is a lot of vacancy downtown, but the good buildings stay leased," he said. The developer hopes to complete the renovation in about 12 months. Staff writer Dave Levinthal contributed to this report.

E-mail stevebrown@dallasnews.com

[gc]

While I would rather see this building as apartments/condos, I am glad to see any adaptive reuse. I hope the office development is successful.

[Columbus Civil]

People working in a post office? *snicker*

[BigD5349]

^Well sure, if you ran an anger management counselling & consulting company, this would be an ideal location to move your business to.

[txRNGr]

"Since the property has been owned by the federal government, it has never been on local tax rolls, Mr. Todd said."

"City Hall staff estimates that Dallas would lose more than $243,000 in property tax revenue over the next 10 years because of the abatement. Ms. Miller estimated the figure at more than $1 million."
If the city has never collected taxes on this property why would they be worried about "losing" money if they issued a tax abatement. Miller and Rasansky should be happy they will finally be able to collect any property tax at all. They need to look at this as an investment in Thanksgiving Square and downtown's future. If they really want that "critical mass", they should help this project along as much as they can.

[CityLove]

Funny, the website for the Lofts (http://www.intradel.com/TheLofts/) is still up, and looks more detailed than a lot of loft community websites. Looks like a cool place to live...too bad it doesn't exist, and apparently never will.

[infoscott]

Actually, I would rather see the upper floors as office space be used for law firms. They would have the money to pay, and it would be conveniently located for them to all the downtown courthouses.

[hamiltonpl]

Actually, I would rather see the upper floors as office space be used for law firms. They would have the money to pay, and it would be conveniently located for them to all the downtown courthouses.
I agree with you. It would be perfect. Maybe I can persuade the boss to move us down there. He used to be a federal judge, so a former federal courthouse seems to be a perfect fit.

[noelamador]

http://www.dallasnews.com/sharedcontent/dws/bus/stories/DN-postoffice_09bus.ART.State.Edition2.3ce094f.html
Postal building to go first class
1930s landmark will be refitted to hold luxury office spaces
12:00 AM CST on Wednesday, November 9, 2005

By STEVE BROWN / The Dallas Morning News

Another downtown landmark is getting a redo.

But this time the project will create new office space instead of residential.

Developers plan to convert the empty upper floors of Dallas' historic U.S. Post Office and Court House into luxury business space.

"We envision a boutique office building that is very high in finish," said developer Shawn Todd, who plans to sell the space as office condominiums. "This building has features in it you couldn't afford to build today."

Constructed in 1930 of limestone and marble, the building at Bryan and Ervay Streets has been largely vacant since the 1980s. A recent renovation of the ground floor space included the building's ornate lobby and the post office's retail location.

But the upper levels ? about 100,000 square feet ? have remained derelict.

Earlier plans by developers to use that space for apartments fell through.

"I don't think it works as a residential project because of the size and cost," said Mr. Todd, who estimates that it will cost $15 million to $20 million to refurbish the vacant floors that once housed federal courtrooms and office space.

As part of the project, the developers are asking the city of Dallas for tax abatements offered for historic renovation. The tax abatement will be on the value of the improvements, not the existing building and land. Since the property has been owned by the federal government, it has never been on local tax rolls, Mr. Todd said.

Preservationists have given the deal their blessing.

"We've been looking for a use for this building for 20 years," said Virginia McAlester, a Preservation Dallas and historic district board member. "We finally have a developer that understands the project."

Dallas City Council member Angela Hunt, whose district includes downtown, said she supports the renovation.

"We are trying to entice people to adaptively reuse an old building instead of tearing it down and building anew," Ms. Hunt said. "You have to give owners some kind of incentive to do that."

But the abatement won't pass without a fight.

Mayor Laura Miller and City Council member Mitchell Rasansky say they'll oppose the abatement because it's too large.

City Hall staff estimates that Dallas would lose more than $243,000 in property tax revenue over the next 10 years because of the abatement. Ms. Miller estimated the figure at more than $1 million.

As part of the redo ? designed by architects Norman Alston and BOKA Powell ? the third-floor federal courtroom once used by Dallas Judge Sarah T. Hughes will be preserved as a common area. Marble and terra cotta lobbies and hallways and other historic features will be incorporated into the new offices, architect Don Powell said.

"There are lots of companies that would find this kind of space ideal," he said.

Very little office space has been constructed in the central business district in the last decade. But the historic building and its location on DART's light-rail line at Thanks-Giving Square will make the property attractive, Mr. Todd said.

"There is a lot of vacancy downtown, but the good buildings stay leased," he said.

The developer hopes to complete the renovation in about 12 months.

Staff writer Dave Levinthal contributed to this report

[FoUTASportscaster]

I was going through old threads and found this one. I haven't heard of it. The website wasn't helpful. Anyone know of something on it?

[FoUTASportscaster]

nevermind, found this one

[elmstreetdallas]

Why would a company (Intradel) continue to keep up a web site (it has the current date at the top) advertising lofts that will never exist? Seems to me to be highly misleading.

http://www.intradel.com/TheLofts/