DOCSLIB.ORG

State of Downtown Downtown Dallas Is Undergoing a Major Renaissance and the Residential Population Growth Is the Catalyst for Much of the Success

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
State of Downtown Downtown Dallas Is Undergoing a Major Renaissance and the Residential Population Growth Is the Catalyst for Much of the Success 2019 RESIDENTIAL State of Downtown Downtown Dallas is undergoing a major renaissance and the residential population growth is the catalyst for much of the success. Like many cities, we find that people have a renewed desire to live in walkable urban centers near their work, recreation, nightlife, and cultural activities. The urban core has captured this demand with substantial redevelopment efforts, new construction, and public-private partnerships. Downtown Dallas, Inc. (DDI) is a private, nonprofit organization serving as the primary advocate and champion for Downtown, ensuring that Downtown grows as a vibrant center of urban life, recognized locally and globally for the quality of its business, hospitality, entertainment, living, and cultural environments. UP, UP AND AWAY WEST CITYPLACE VILLAGE Downtown residential OAK LAWN population is up 71% TURTLE CREEK $1364 $2130 Average Monthly Rent since 2009. Average Monthly Rent OLD EAST RESIDENTIAL POPULATION UPTOWN DALLAS STATE THOMAS HARWOOD DESIGN BRYAN PLACE Downtown 11k+ DISTRICT $2080 $1585 Average Monthly Rent BAYLOR 75 Average Monthly Rent VICTORY DALLAS ARTS $1609 PARK 35 E DISTRICT City Center Total 75k+ Average Monthly Rent SOUTH K SC L O R VICTORY A E W DEEP ELLUM 90 LA MAIN STREET EXPOSITION BAJADA PARK WEST END DISTRICT 30 TRINITY DALLAS GROVES FARMERS RIVERFRONT 30 92.5% DOWNTOWN MARKET DISTRICT 45 SOUTH DALLAS OCCUPANCY RATE 35 E CIVIC FAIR PARK $1577CENTER REUNION WEST Average Monthly Rent30 GRAND PARK 3 DALLAS SOUTH DOWNTOWN HISTORICAL POPULATION 30 THE CEDARS Year Downtown % Growth PARK ROW SOUTH BLVD EAST KESSLER 35 E $1359 SOUTH SIDE Average Monthly Rent 1996 200 - OAK CLIFF EDGEWOOD 2005 2,227 1763% PLACE LAKE CLIFF 2006 3,726 67% THE BOTTOMS 2007 6,307 69% 2008 6,689 6% Based on 1BR, which vary greatly in these neighborhoods 2009 6,800 2% 2010 6,909 2% RESIDENTIAL UNITS2 Downtown City Center1 2011 7,221 5% Existing 8,630 67,700 2012 7,800 8% Under Construction 1,594 3,545 2013 8,000 3% Announced 1,403 6,098 2014 8,200 3% Total 11,627 77,343 2015 9,391 15% 2016 10,982 17% These additional units could equate to approximately 18,000 additional residents. 2017 11,517 5% 2018 11,638 1% 1 City Center is approximately 2.5 mile radius from Downtown. 2 Full list of properties available upon request. 3 Source: Buxton, CoStar MPF, DDI Research, Updated 2019. downtowndallas.com / @DtownDallasInc / #MyDTD 2019 RESIDENTIAL State of Downtown The Downtown resident is primarily of the young professional demographic between the ages of 25-36. However, an empty nester component is also present as more Baby Boomers look to downsize and transition into an urban environment. There is also a growing sector of families. have67% college degrees 52% female 13% 15% take DART walk to work 48% male make35% over $100k have64% lived Downtown for more than three years have 44%at least one dog have at17% least one child Sources: Buxton Analytics / TracyLocke Downtown Resident Survey, 2018 downtowndallas.com / @DtownDallasInc / #MyDTD 2019 RESIDENTIAL AVG HOUSEHOLD INCOME State of Downtown TOP INDUSTRIES 28% 12% 10% Business, Finance, Admin Sales & Related Art, Design, Entertainment, Sports & Media LOCATION, LOCATION, LOCATION 66% enjoy walking to things they enjoy (not driving) 52% enjoy living near their workplace 48% enjoy living near nightlife or events Source: Buxton Analytics downtowndallas.com / @DtownDallasInc / #MyDTD.
Load more

Recommended publications
  • 2019 Uptown Demographic Study
    Uptown Dallas Prepared for Uptown Dallas, Inc. Market Study December 2019 Metrostudy-Dallas/Ft. Worth 1255 West 15th Street, Suite 240 Plano, TX 75075 Phone: 214.869.4916 Email: [email protected] Web: www.metrostudy.com Table of Contents Profile 3 – 8 Economic/Demographic 7 – 11 Employment 12 – 14 Real Estate 15 – 21 Transportation 22 – 24 Uptown Data 25 – 28 Uptown Residents 29 – 37 UPTOWN DALLAS, INC. CUSTOM STUDY Page 2 Profile Uptown Dallas 1993 Development in Uptown began in the 1980s with residential and commercial growth. As the neighborhood began to take shape, developers and residents alike saw an opportunity to enhance the area. Through consensus with the City of Dallas, Uptown Dallas, Inc. was formed in 1993 to scale, maintain and further improve the neighborhood. Uptown Dallas, Inc. celebrated 25 years in 2018. 591.8 Acres Stretching just under one square mile, or 591.8 acres, Uptown is a diverse and dense neighborhood. The community includes numerous residential options, reputable companies, schools and a variety of retail and dining options. 58.1 Acres Uptown has 19 square feet of greenspace per person totaling 58.1 acres. Open space includes Griggs Park which is 8 acres and Greenwood Cemetery, Calvary, Temple Emanuel, Anita Phelps Park and Freedman’s Memorial comprise 44 acres. Katy Trail, a 3.5-mile, privately funded trail system built on an old railroad line defines Uptown’s western border. Additionally, there are 53.5 acres of greenspace bordering Uptown including the award-winning Klyde Warren Park. 4.6 Miles Founded in 1983 with the intent of returning heritage streetcars to the streets of Uptown, the McKinney Avenue Transit Authority successfully accomplished that goal in July of 1989.
    [Show full text]
  • Draft Environmental Assessment for North Texas Optimization of Airspace and Procedures in the Metroplex
    Draft Environmental Assessment for North Texas Optimization of Airspace and Procedures in the Metroplex Volume II - Appendices September 2013 Prepared by: United States Department of Transportation Federal Aviation Administration Fort Worth, Texas Table of Contents APPENDIX A A.1 First Early Notification Announcement................................................................................ 1 A.1.1 Early Notification Letters ..................................................................................................... 1 A.1.2 Comments Received From the First Announcement........................................................23 A.1.3 Outreach Meetings............................................................................................................49 APPENDIX B B.1 List of Preparers.................................................................................................................. 1 B.1 Receiving Parties & Draft EA Notification of Availability..................................................... 3 APPENDIX C C.1 Contact Information............................................................................................................. 1 C.2 References.......................................................................................................................... 1 APPENDIX D D.1 List of Acronyms.................................................................................................................. 1 D.2 Glossary .............................................................................................................................
    [Show full text]
  • Victory Park
    SOUTH VICTORY DISTRICT Victory Park DALLAS, TEXAS Victory Park, a walkable, urban development in the Uptown neighborhood of Dallas, is home to some of the cities best restaurants, entertainment, and retail. • Victory Park is a 75 acre masterplanned, mixed-use development in Downtown Dallas anchored by the American Airlines Center (home of the Dallas Mavericks & Stars), The House of Blues, HERO, Tom Thumb, W Dallas Hotel and the new 44,000 SF Cinepolis Luxury Cinemas. • The bar and restaurant scene at Victory Park is about to experience a dramatic change as we welcome new concepts, opening later this year, from some of Dallas' top food and beverage operators. • WeWork opened in early 2019 on the 2nd & 3rd floors of the Victory Plaza Office building. The space features their signature mid-century modern decor, open floor plan, floor to ceiling glass and steel framing, private office suites and communal working space. 2 Demographics DALLAS LOVE NORTHEAST FIELD AIRPORT PARK DALLAS CITIES 1 MI RADIUS GREENWAY Population (2018) – 29,603 PARKS 75 Households – 13,124 Avg. HH Income – $117,552 3 MILES Median Age – 33 Daytime Demo – 141,525 Education (Bach+) – 57% 3 MI RADIUS 35E Population (2018) – 187,692 Households – 87,023 1 MILE Avg. HH Income – $91,322 Trinity UPTOWN OLD EAST Median Age – 34 River DALLAS Daytime Demo – 393,259 30 Education (Bach+) – 48% Victory Park 5 MI RADIUS Deep DOWNTOWN Ellum Population (2018) – 398,518 DALLAS Households – 163,296 Avg. HH Income – $94,878 CEDARS Median Age – 34 Daytime Demo – 642,221 30 Education (Bach+)
    [Show full text]
  • DFW Industrial Marketview
    MARKETVIEW Dallas/Fort Worth Industrial, Q4 2018 Demand tops 20 million sq. ft. for third consecutive year. 6.0% 14,513,927 SF 8,273,325 SF 7,108,176 SF Figure 1: DFW Industrial Market *Arrows indicate trend from previous quarter. MSF Vacancy Rate (%) 30 7 25 20 15 6 10 5 0 5 2013 2014 2015 2016 2017 2018 Total Net Absorption Delivered Construction Construction Starts Total Vacancy Source: CBRE Research, Q4 2018. SUPPLY AND DEMAND REMAIN BALANCED PRODUCT PIPELINE CONTRACTS SUBSTANTIALLY MARKET-WIDE VACANCY RATE REMAINS SNUG Q4 2018 CBRE Research © 2019 CBRE, Inc. | 1 MARKETVIEW DALLAS/FORT WORTH INDUSTRIAL Figure 2: DFW Industrial Market Snapshot Net Direct Total Q4 2018 Q4 2018 2018 Avail. Direct Total Rentable Available Vacancy Vacancy Direct Net Total Net Total Market Rate Vacancy Vacancy Area (SF) Rate Rate Absorption Absorption Absorption (%) (SF) (SF) (SF) (%) (%) (SF) (SF) (SF) DFW Airport 76,537,446 7,143,995 9.3 4,981,889 6.5 5,496,992 7.2 1,021,613 1,093,964 2,816,521 East Dallas 36,711,061 3,247,617 8.8 1,640,650 4.5 1,674,582 4.6 455,405 421,473 323,735 Northeast Dallas 98,857,581 7,721,313 7.8 4,920,189 5.0 5,634,661 5.7 749,356 666,538 1,314,114 Northwest Dallas 110,278,941 6,873,465 6.2 4,158,527 3.8 4,433,034 4.0 360,646 333,645 1,007,725 South Dallas 77,278,616 13,465,000 17.4 12,086,981 15.6 12,226,952 15.8 1,206,291 1,254,279 5,847,155 South Stemmons 116,757,096 7,800,940 6.7 4,460,334 3.8 4,759,216 4.1 (375,470) (376,688) (1,290,388) Great SW/Arlington 111,266,798 8,018,274 7.2 5,043,620 4.5 5,140,768 4.6 2,566,998 2,601,478 7,293,671 North Ft.
    [Show full text]
  • Oral History of Bonton and Ideal Neighborhoods in Dallas, Texas
    ORAL HISTORY OF BONTON AND IDEAL NEIGHBORHOODS IN DALLAS, TEXAS Briana Payne Thesis Prepared for the Degree of MASTER OF ARTS UNIVERSITY OF NORTH TEXAS December 2015 APPROVED: Andrew Nelson, Committee Chair Beverly Ann Davenport, Committee Member Matthew Durington, Committee Member Lisa Henry, Chair of the Department of Anthropology Costas Tsatsoulis, Dean of the Toulouse Graduate School Payne, Briana. Oral History of Bonton and Ideal Neighborhoods in Dallas, Texas. Master of Arts (Applied Anthropology), December 2015, 145 pp., 3 tables, 67 figures, references, 223 titles. The Bonton and Ideal neighborhoods in Dallas Texas, developed in the early 1900s, experienced physical and social decay throughout the 1980s. Neighborhood organizations and resident activism were vital to the rebirth of the community in the 1990s. Current revitalization efforts taking place there have been a source of contention as the neighborhood continues to overcome inequalities created by decades of racialized city planning initiatives. This thesis focuses on how the structuring structure of whiteness has historically affected, and continues to affect, the neighborhoods of Ideal and Bonton, as well as acts to identify how black residents have navigated their landscape and increased their collective capital through neighborhood activism. Copyright 2015 By Briana Payne ii ACKNOWLEDGEMENTS First, I would like to thank the Neighborhood Investment Program for providing me with the opportunity to work with them as they continue to improve the Bonton and Ideal neighborhoods in South Dallas. Without their acknowledgement of the importance of conserving the history of this community, I would not have been able to share the important life stories of the residents.
    [Show full text]
  • Living in Dallas, Texas Demographics Dallas Is the Third-Largest City in Texas and the Ninth-Largest in the United States
    Living in Dallas, Texas Demographics Dallas is the third-largest city in Texas and the ninth-largest in the United States. Dallas forms the heart of the large metropolitan area in north central Texas, commonly referred to as the “metroplex”. The metroplex, a 12-county area encompassing more than 120 cities, is anchored by the City of Dallas in the east and the City of Fort Worth in the west. The population of Dallas is around 1.3 million according to the US Census Bureau. This ultra- modern and sophisticated city is the largest economic center of the 12-county Dallas-Fort Worth metropolitan area, which is the fourth-largest metropolitan area in the United States. The Dallas community is world-class with a diverse population located on a total land area of 384 square miles. Dallas is centrally located within the US and serves as a commercial and cultural hub of the Southwest region. Within a four-hour flight from most North American destinations, the travel possibilities are endless. Dallas is also a leading business and meeting city. Dallas-Fort Worth is home to 24 Fortune 500 companies and has become a hotspot in recent years for corporate relocations. Notable Fortune 500 companies include: Exxon Mobil, AT&T, Energy Transfer Equity, American Airlines Group, Southwest Airlines, Texas Instruments, GameStop, D.R. Horton, and Dr. Pepper Snapple Group. Entertainment/Culture With many entertainment districts within a short distance of downtown, Dallas is a unique melting pot which mixes local history with arts, culture, dining, and more. Dallas is stylish and cosmopolitan, a city with a well-earned reputation for fashion, shopping, and prosperity.
    [Show full text]
  • Signature Redacted Signature of Author
    Multifamily Site Development - Bishop Arts District, Dallas, TX by Justin L Rice B.A., Finance and Real Estate, 2005 Texas Tech University Submitted to the Program in Real Estate Development in Conjunction with the Center for Real Estate in Partial Fulfillment of the Requirements for the Degree of Master of Science in Real Estate Development at the Massachusetts Institute of Technology September, 2017 @2017 Justin L Rice All rights reserved The author hereby grants to MIT permission to reproduce and to distribute publicly paper and electronic copies of this thesis document in whole !op in any medium now known or hereafter created. Signature redacted Signature of Author Cente- Rpl Estate ( July 28, 2017 Certified by Signature redacted ;400 John Kennedy r Lecturer, MIT Center for Real Estate Thesis Supervisor Accepted by Signature redacted Albert Saiz Director Center for Real Estate MASAHSET INTTUTE OF TECHNOLOGY SEP 13 2017 LIBRARIES ARCIGNE. Multifamily Site Development - Bishop Arts District, Dallas, TX by Justin Rice Submitted to the Program in Real Estate Development in Conjunction with the Center for Real Estate on July 28, 2017 in Partial Fulfillment of the Requirements for the Degree of Master of Science in Real Estate Development ABSTRACT This thesis explores the development potential and land value of a vacant parcel of land listed for sale in Dallas, TX. Further, this thesis proposes three different multifamily rental site plan designs for the parcel in an effort to maximize the value of both the development and the land. The site is located just two blocks from Dallas' popular Bishop Arts retail district.
    [Show full text]
  • Member FDIC Bishop Arts Downtown Dallas Cedars Deep Ellum Garland
    Uptown Garland Deep Ellum Bishop Arts Cedars Downtown Dallas 2020 Member FDIC “What a long, strange trip it’s been.” GROWTH - Year-end assets increased DEAR SHAREHOLDERS, 2020 was best described by the 34.37% to $307,327,273. Deposits famous song line by the Grateful Dead – were up 37.8% to $274,208,306, while “What a long, strange trip it’s been.” our loan portfolio increased 23.5% to We went from a booming economy $235,296,015. We anticipate continued early in the year, to a massive drop strong growth in 2021, although we in the stock market and an almost expect that growth to be at slower total lockdown of the country due to levels than the record increases that the worst pandemic in over 100 years we saw in 2020. in the spring, to civil unrest in the CAPITAL - Our capital to assets ratio, summer and finally to the anticipation considered by many the primary of a new administration and a stock indicator of bank strength and market boom in the fall. solvency, was 9.97% at year end, Last year was truly a year like no significantly above “well capitalized” other in recent memory. regulatory requirements. Despite our Despite all of these headwinds, strong capital ratio, our after-tax Texas Brand Bancshares, Inc., return on equity from continuing and Texas Brand Bank are pleased operations was 9.66%. Return on to announce a record year. average assets was 0.99%. Borrower dissatisfaction with large, money center banks, EARNINGS – Earnings were up sharply particularly with respect to the in 2020, rising 41.42% over 2019.
    [Show full text]
  • Dallas • Texas
    DALLAS • TEXAS OFFERING SUMMARY INVESTMENT OVERVIEW UPTOWN Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp. a Texas licensed real estate broker (“HFF”) has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in IMT Seville Uptown (the “Property”) in Dallas, Texas. The 363-unit apartment community is located in one of the most accessible sites in the city, positioned just two blocks from the Dallas North Tollway just north of Maple Avenue. This location is minutes from several of Dallas’ top economic drivers, including Uptown, Dallas Medical District, and the Dallas CBD. The Property benefits from upscale nearby amenities, attracting a highly-educated, young workforce to the area. New ownership is afforded the opportunity to capitalize on the tremendous momentum in the area and initiate a value enhancement program to push rental rates. INVESTMENT HIGHLIGHTS VALUE-ADD ASSET BELOW REPLACEMENT COST & DISCOUNT TO UPTOWN The Property is being offered at a discount to replacement cost with the potential to implement a value-add program to close the gap on properties located in Uptown. New ownership has the ability to upgrade new plumbing & lighting fixtures, stainless steel appliances in all units, backsplash, granite countertops in bathrooms, ceiling fans, washer/dryer sets, two-inch blinds, and add enclosed yards to select units. According to MPF Research, 2000+ built properties located in the Intown (Uptown) submarket are averaging rents of $1,834 per month, which is approximately 36% above in-place rents at IMT Seville Uptown, exhibiting an exceptional opportunity to push rental rates.
    [Show full text]
  • Dallas-Fort Worth Guide
    FACULTY: SEDEF DOGANER, PhD STUDENTS: MICHAEL BRADEN MICHAEL LOCKWOOD LEVI SANCIUC hE/sZ^/dzK&dy^^EEdKE/K COLLEGE OF ARCHITECTURE ARCHITOURISM CONTENTS CHAPTER 1 p. 04 /ŶƚƌŽĚƵĐƟŽŶ CHAPTER 2 p. 11 The Architourist City: Dallas / Ft. Worth History 2.1.1 Importance 2.1.2 DFW Economy Related to Tourism 2.1.3 &t^ƚĂƟƐƟĐƐZĞůĂƚĞĚƚŽdŽƵƌŝƐŵϮ͘ϭ͘ϰ dƌĂŶƐĨŽƌŵĂƟŽŶŽĨ^ŝƚĞƐZĞůĂƚĞĚƚŽdŽƵƌŝƐŵϮ͘ϭ͘ϱ DFW Current Problems 2.1.6 The Architourist 2.2.1 Importance of Architourism 2.2.2 DFW Economy 2.2.3 &t^ƚĂƟƐƟĐƐZĞůĂƚĞĚƚŽdŽƵƌŝƐŵϮ͘Ϯ͘ϰ &tdŽƵƌŝƐƚWƌŽĮůĞƐϮ͘Ϯ͘ϱ &tƌĐŚŝƚŽƵƌŝƐƚ^ŝƚĞϮ͘Ϯ͘ϲ CHAPTER 3 p. 27 Analysis of Tourism in DFW CHAPTER 4 p. 87 Architourist Guide to DFW ARCHITOURISM CHAPTER 1 IntroducƟ on Introduc on: The focus of this analysis is to look at the eff ects of Architourism in the Dallas/Ft Worth area. What kind of culture if any has been created by Architourism and is it authen c or inauthen c. What kinds of developments have occurred there recently and what has this done to boost or change the local community. In the 2010 census the city of Dallas saw less than a one percent increase in its total popula on while Ft Worth increased by more than 38%. Did Architourism play a role in this? If so, what? Our analysis will begin with researching the demographics of the local users and types of tourists, their income level, race, educa on and loca on of residency. We will also include looking into the histories of selected sites with respect to their economies, culture, tourist ac vi es, and rela onship to the built environment.
    [Show full text]
  • Click Here for Current Directions and Parking Information for Buses
    Dallas Heritage Village is located at Old City Park, 1515 South Harwood, Dallas, Texas 75215-1273. Bus parking is free with paid admission. Parking is only available in designated areas. FROM THE NORTH US 75 [Central Expressway] (McKinney, Plano, Richardson, etc.) Go south on 75 and take the I-30 West exit. Stay in the right lane on the service road and take the first CENTRAL EXP. exit, Ervay St. Turn left at St. Paul (the first traffic light), cross over the freeway and go past the old PEARL DOWNTOWN DALLAS HARWOOD Ambassador Hotel. At the stop sign, make a slight left, putting you on Ervay St. Take the first left onto N S. ERVAY Gano. The entrance to the Village is on the left, across from City Park Elementary. After unloading I35 E ST. PAUL all passengers, turn right onto St. Paul and then right into the bus parking area behind City Park Farmers Elementary. YOUNG Market North Dallas Tollway (Plano, Addison, North Dallas, etc.) I30 Go south on the Tollway through the main toll plaza. Take the I-35E South exit and follow the signs I30 I30 to I-30 East. Immediately after I-35E and I-30 East split, take the Lamar/Griffin exit and remain on I45 ST. PAUL the feeder road until Harwood St. (DO NOT MAKE ANY TURNS OR EXITS UNTIL HARWOOD.) DALLAS S.HARWOOD I35 E Turn right on Harwood and right through the gates. The drop off area is on the right. After unloading all S. ERVAY HERITAGE passengers, follow the drive around to the left and turn right into the bus parking area.
    [Show full text]
  • South Dallas Is Home to Almost Half of All Liquor Stores in Dallas County
    lL->f*f*<j>i£L±n.U:ij to ^-^f< t&m C dfCTinoritp ©ppQttuuityMt\n& VOLUME 1, NUMBER 10 2730 STEMMONS FRWY • 1100 TOWER WEST • DALLAS, TEXAS 75207 OCT. 1992 South Dallas is home to almost half of all Hi liquor stores in Dallas County. But there is a growing movement to limit or expel these establishments that have, in effect, a... Radical or Practical? The Expanded Role of MON Tikes a Look at the the Black Press New Black Panther Party. P92 page 7 • .,,.^.t.JJi^.JJgB< just a watcher—if s incumbent on us to From the be a partner in the conmiuruty. Our role ?S can be described best as mediator, moderator and monitor.. - . In the News Publisher Mediator—^The role of mediator Thurman .places us in the middle of controver­ sies. Here we serve as intermediary to Campbell Honored As weeks, Mon-Fri 9am to 3pm. For Jones reconcile differences—during elections additional information call 376-0396. in particular. Our position is to present Texas' Most . ^^^ program is free to minority an unbiased view of the candidates' males between the ages of 17 and 38. qualifications and achievements. On Enterprising Pressed for Results the other side of that coin, we try to focus on the benefits and responsibili­ Businessman ties of Anrierican citizenship. Further­ TheAusHn School Gets Top Honors The Expanded Role of themore , it is our intent and purpose to Metropolitan Frederick Douglass Elementary African American Press review the years of struggle and sacri­ Resource C^ter Sdiool was honored by Conimissioncr fice that ensured our present rights.
    [Show full text]