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DALLAS | Katy Station | 310 FT | 30 FLOORS

28-story residential tower in the works at Victory Park
http://bizbeatblog.dallasnews.com/fi...15/05/katy.jpg

Quote:

Developers are working on a new residential tower in Dallas’ Victory Park project.

The 28-story Katy Tower high-rise would be developed by Richardson-based Genesis Real Estate.

The residential tower is planned at the north end of Victory Park at Hi Line Drive and Houston Street.

Quote:

It’s the tallest new tower in the works for the 75-acre Victory Park which is located just north of downtown Dallas.

Why is there so much building in the area north of downtown and so little in downtown itself?

Quote:

Originally Posted by jg6544 (Post 7050459)

Why is there so much building in the area north of downtown and so little in downtown itself?

1.) The big local developers own a lot of land there.
2.) National and International developers are likely steered there and lured by the higher land prices and potential to make more money because of the huge appreciation.
3.) Lots of highly educated residents live/work/play in this area with the wealthiest areas of Dallas adjacent to it. Easy sell for a developer.
4.) A lot of the landowners in DT Dallas own individual lots and have high asking prices relative to the sub-market. They are basically sitting on that land and making a killing off of surface lots.
5.) Lots of vacant space in DT. Lots of renovations are quickly ridding Dallas of this problem though.

I look at a project like the Spire development and it just seems there might be a stigma besides all of the land issues. Several office projects just a few blocks away in Uptown have come and been built while nothing happens with Spire. Spire always cites landing a marquee tenant, but every tower in Uptown seems to have no problem filling up immediately.

but that's office. As far as residential, DT has a lot of units underconstruction and under renovation. Most are shorter infill type projects, with a couple of the taller towers. I wouldn't be surprised if you see a little boom spreading from the Farmers Market area, north. Lots of lots and new boulevard and park coming in addition to the new Farmers Market and all new residential under construction.

Thanks for the info. I understand a lot of the older high-rises in downtown have been converted to residential. Any idea what the occupancy rate in those new residential towers is?

PS: I'm old enough to remember how the building that eventually became the Fairmont hotel sat unfinished for years because the developer ran out of $ or couldn't find a tenant (maybe both).

Maybe the point is that Uptown is part of Downtown ? Especially since they're linked by the park now.

It's now planned at 30 floors with adjacent 7 floor buildings.

Planned Victory Park tower will have more than 400 apartments in 30 stories
http://bizbeatblog.dallasnews.com/fi...n-1024x514.jpg

Quote:

A new residential tower in the works for Dallas’ Victory Park will be one of the tallest such buildings in the city.

Genesis Real Estate Group Inc. wants to build the 30-story apartment tower at the north ends of Victory Park at Houston Street and Hi Line Drive.

The tower would be built on 2.6 acres now used for surface parking.

Called Katy Station, the building will have 461 apartments, according to plans filed with the City of Dallas.

The 30-story project would be the tallest in Victory Park other than the W Hotel and Residences building on Olive Street.

Along with the tower portion of the project, the development will also have two, 7-story apartment blocks along Houston Street.

Nope. We're going t have to wait and see how it turns out.

Thanks to maconahey from Dallasmetropolis:

http://s15.postimg.org/rr7np4pbv/20160209_094136.jpg

Update:

I called Genesis Real Estate Group, who is affiliated with Katy Station, and asked about the apartment tower.

After identifiying myself, I asked if the website contained accurate information regarding the floorplans.

The Genesis spokesperson told me she couldn't answer any questions and hung up.

I believe the photo is from early February.

Construction is now on the third or fourth floor.

Here is a more recent photo, from Andres Construction Services Facebook page:

https://scontent-dfw1-1.xx.fbcdn.net...08629791_o.jpg

Quote:

Originally Posted by Sic'EmBears (Post 7353145)

That's a load of crock. Get yourself some press cred and use it and you'll be surprised how quickly developers start trying to get on your good side.

Quote:

Originally Posted by Sic'EmBears (Post 7373707)

Renderings have been published:

http://static1.squarespace.com/stati...g?format=1500w

That's ... not very handsome. No wonder the developers were being so secretive about it.

During the hockey game the other night, they showed a live aerial shot of downtown Dallas, probably taken around 7:30 or 8:00, local time. The buildings in the former downtown area were almost all pitch-dark, which suggested to me that a lot of those towers have emptied out as "the action" has moved to the north, across the freeway.

Quote:

Originally Posted by jg6544 (Post 7374649)

While Uptown/Victory are indeed at the core of urban development, the "former" downtown is actually doing better than the past 2-3 decades. It has a bright future, even more so when you take into account that the "new" downtown has no more room to build upon and demand is still sky-high.