
Originally Posted by
skys the limi
Downtown Dallas IS A CENTER OF JOB GROWTH.
Concerning Downtown Dallas' desirability for businesses and employers to locate - Downtown Dallas is drawing significant employment growth and numbers of corporations locating and relocating to it. The trend is very positive and on the upswing, not the reverse as you have portrayed.
Downtown Dallas is the healthiest it has been in probably 20 years and growing stronger by the day.
AT&T's World Headquarters, Comerica Bank's corporate headquarters, 7-Eleven's World Headquarters, Tenet Healthcare's corporate headquarters, Holly Oil's corporate headquarters, PaigeSutherlandPaige's corporate headquarters - and these are just the ones I can think of immediately while typing very fast - all relocated to Downtown Dallas on PURPOSE. They wanted to be there, and brought thousands and thousands of very good paying jobs with them.
7-11, Holly Oil and Page Southerland Page have all been located in your expanded definition of downtown for many years (and I don't think the Dallas office is PSP's headquarters, fwiw). Since you have expanded the definition of downtown, you can't hardly claim these as relocations into downtown. So, that leaves you with AT&T, Tenet and Comerica... Very nice relocations indeed. But hundreds of jobs, not thousands.
Relocations from out of state to Downtown are happening on a steady basis as well - just in the last few months Moneygram International moved its headquarters from Minneapolis and Primoris International Services moved its headquarters from California to Downtown Dallas and did so on purpose as well. These come to mind quickly and I'm sure there are others to reference as well.
Concerning employment numbers, as of April 2011 data the Dallas-Plano-Irving Metropolitan Division has 2,065,600 jobs out of the DFW MSA's total employment of 2,929,700.
That means that 71% of all area employment is within the Dallas side of the metro - the DART side of the metro.
Out of the 2,065,600 jobs in the Dallas metro 1,052,536 of those jobs are located within the City Limits of Dallas itself.
That means in excess of 51% of all Dallas metro area jobs are located within the City Limits of Dallas itself.
The 1,052,536 City of Dallas jobs number is per the January 2011 estimate of the City of Dallas Economic Development Department - and most assuredly that number is thousands higher as of June 2011.
City of Dallas Economic Development also estimates for January 2011 that there are 557,986 employed residents living within the City Limits of Dallas.
That means at a minimum 500,000 or more people commute into the City Limits of Dallas for work every single day of the week.
That is an enormous opportunity space for DART to go after and capture those people who are commuting into Dallas for work every day.
And as pointed out above, Downtown Dallas' employment base is growing by thousands and IT IS A CENTER OF JOB GROWTH.
I look forward to your evidence that Downtown Dallas' employment base is growing or has grown by thousands.
You may not be aware but Uptown is now a part of Downtown Dallas, a distinct district but still now defined as being Downtown Dallas. Uptown has just gone through one of the biggest building booms of modern times by adding around 10,000,000 square feet of space over the last six or seven years.
This is what I love about Dallas. After 30 or 40 years of promising that a healthy downtown was just around the corner, the downtown Dallas boosters have thrown up their hands and decided that if we can't get a healthy downtown, we'll just redefine it. Genius! So, accepting the marketing-driven redefinition of downtown Dallas. . .
According to Transwestern's 1st quarter office market report, the entire Uptown District contains 11.7 million square feet of rentable office space. And you would have us believe that 10 million square feet (85% of the total) has been added in the last six or seven years??
Uptown commands the absolute highest office rents in the entire metro area, Uptown has some of the highest occupancy levels of any office district in the entire metro, and Uptown is also a major residential center as well as office center. A recent estimate placed the population of Uptown alone at 20,000 people.
Why the focus on Uptown? I thought we were talking about downtown Dallas, of which Uptown is only a fraction. In any case, this is another paragraph in which facts have apparently become optional. According to Transwestern, Uptown does not have the "absolute highest office rents. That "honor" goes to Preston Center. Further, Uptown and the CBD were 2 of only 7 districts in the entire Metroplex where Class A rents declined in 1st Quarter 2011 (out of 23 districts that have Class A office space).
Uptown's occupancy rate is not "some of the highest. . . in the entire metro." In fact, its occupancy rate is a fairly weak 82.1%, lower than the average occupancy for the entire metroplex. Transwestern shows 33 office submarkets, 25 of which have occupancy rates higher than Uptown's. And in a discussion about downtown, it is a bit disingenous to ignore the (much larger) CBD portion of downtown, which has the metro's 3rd lowest occupancy rate (out of 33 districts).
Another interesting fact from the Transwestern report: For the period 2008 - 1st quarter 2011, Uptown and CBD combined had a cumulative negative absorption of 811,000 square feet of office space. Hardly what one would expect in a market adding thousands of jobs. During that same time period, the entire metroplex had a positive absorption of 5.8 million square feet (which means that without the drag of downtown Dallas, the rest of the metroplex had positive absorption of 6.6 million square feet.
So to say that Downtown Dallas is not generating jobs or population growth is just patently incorrect.
Again, I look forward to evidence of large job growth in downtown Dallas.
Plus, a couple of months ago I did an analysis of the census tracts for the traditional Dallas CBD, Uptown, near East Dallas - those areas now considered part of Downtown.
The population growth for Downtown Dallas over the last ten years is staggering. Conservatively it is now at least 50,000 people that live in the area that is now defined as "Downtown".
Rome was not built in a day.
To expect DART to be perfect at this point in its very young life is ridiculous. It is a growing system, and will be finetuned over time to take advantage of its strengths and to overcome and correct its weaknesses.
Some TOD's already exist and other TOD's are underway and/or are planned. Again, let's give this a little more time to "flesh out" the framework that has been put in place before we all rush to declare DART a failure or the City of Dallas a catastrophe of epic proportions when facts clearly show the reverse to be true.
Part of the problem for DART's "declining ridership" is the honor system. Only those who actually pay their fare are reported as "riders" and there are probably thousands who just hop the train and never pay their way.
Another observation is that while DART is not perfect, it is one hell of a massive system to have in place from which to build. And make no mistake, DART's growth plans will push it even further ahead of any other cities in Texas or the Southwest.
Dallas is very fortunate to have DART and over the next decade the benefits of the system will become more than abundantly clear and people will no longer be able to naysay or second guess the system.
Again, Rome was not built in a day.
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