DALLAS FORT WORTH | Urban + Suburban P & C

[N90]

I go by CSA's and the difference between DFW and Chicagoland is a mere 2.8 million. Even with a drastic slowdown, DFW will get there to that point in no time.

The gap between DFW and Houston is obviously smaller than DFW and Chicagoland but it's still 800,000 people and DFW is gaining on 1.4 million people per decade while Houston is 1.3 million.

http://en.wikipedia.org/wiki/Table_o...tistical_areas

DFW by 2020 will very close or WILL pass up Boston (Boston will land on around 8.4 million) depending on any acceleration in population growth to DFW. By 2025, it'll be much ahead of Boston.

Houston by 2020 will be 100,000 ahead of Philadelphia (7.4 million to 7.3 million) and after the 2020's, Houston and DFW will go on an onslaught and wont ever look back. After taking over Boston, they'll join their permanent peers and surpass Chicagoland eventually (but not Washington/Baltimore or Bay Area, ever).

By the way, even if Chicagoland absorbs South Bend and Rockford and Walworth County, it will only delay the overtaking by a mere decade.

[Owlhorn]

Originally Posted by TTU Arch

There is a difference of a little more than 400K between the Houston metro and DFW with the latest 2012 estimates. Advantage to Dallas. This is a tight population difference that could change with in just a couple of years. Houston (http://recenter.tamu.edu/data/pop/popm/cbsa26420.asp) and Dallas (http://recenter.tamu.edu/data/pop/popm/cbsa19100.asp). In recent years they have both have had similar population gains, however, this year Houston has out paced most US metros in job gains.

The last report Dallas gained more, but Houston led the nation in percentage.

[Owlhorn]

Jul 19, 2013, 5:00am CDT
Crescent Real Estate ready to launch $225M Uptown mixed-use project

Candace Carlisle

Joseph Pitchford likes to tote a miniaturized version of Uptown around as he shows off famed architect Cesar Pelli’s finalized design of Crescent Real Estate Equities LLC’s soon-to-be developed $225 million tower and how it fits in the exclusive neighborhood. After all, there are not many development sites left in Uptown and the Fort Worth-based real estate firm has held onto the 3.1-acre site, waiting for something special. Now, the wait could be over.
Crescent could begin work on its project, totaling 600,000 square feet, as early as September. But the real estate firm is waiting to sign a lead ...

[R1070]

Developer Fairfield Investment Co. has been working on its big West End apartment project since last year.

The 267-unit rental community would be built on the vacant block at Ross Avenue and Houston Street in the downtown Dallas historic district.

This week the developer told the Dallas City Council that it plans to begin construction on the project in December, with a completion date set for December 2015.

The new apartment development is designed to blend in with the turn-of-the-20th Century buildings in the West End.

Fairfield said its Fairfield at Ross project will cost $35 million.

http://bizbeatblog.dallasnews.com/20...his-year.html/

[Owlhorn]

one of the best announcements of the year. Some of the renderings of this place look outstanding and its a great location. The West End has so much comeback potential. Loving all of this infill.





http://www.scribd.com/doc/109708987/...oard-portfolio

[Owlhorn]

Long awaited redo of Dallas’ Turtle Creek Village is ready to begin

By STEVE BROWN
Real Estate Editor
Stevebrown@dallasnews.com
Published: 15 August 2013 08:46 PM
Updated: 15 August 2013 08:46 PM

The long-awaited redevelopment of one of Dallas’ first mixed-use projects is about to kick off.
The owners of the Turtle Creek Village shopping and office complex in Oak Lawn hope the makeover will make the property one of the area’s top urban shopping destinations.
“We’ve got a huge marketing list of tenants that want to reach shoppers in the Uptown and Highland Park markets,” said Lincoln Property executive vice president Robert Dozier. “We are in the right location, and when we are done, Turtle Creek Village will have a very different look and feel.”
Built in the late 1960s and early 1970s, Turtle Creek Village is on Oak Lawn Avenue just south of Highland Park.
It was one of Dallas’ first large projects that combined office, retail and residential buildings.
With two office buildings and more than 80,000 square feet of strip retail space, the 9-acre development is still one of the biggest commercial projects in the Oak Lawn area.
“It’s an incredible property in the middle of an amazing demographic area,” said longtime Dallas real estate broker Jack Gosnell of UCR Urban. “There are enough tenants that want to be in that market to fill that shopping center two or three times.
“We’ve had no new space of that size come on this market really since they built the West Village” more than a decade ago.

[Owlhorn]

removed for copyright violation

[Sic'EmBears]

Originally Posted by Owlhorn

Update of the Cantabria construction site

This is my photo ^^^

[sentinel]

Originally Posted by Dallas Snob

US Census Stats:

Year DFW Projected Population

2020 8 million
2030 10 million
2040 13 million
2050 17 million

Uh, source please.

[Owlhorn]

U.S. Census Bureau. There's even a huge thread here arguing about the projections as well.

[DCReid]

Originally Posted by sentinel

Uh, source please.

It seems that he is extrapolating based on past growth. However, that almost never happens, so it is basically speculation at this point, as cities hit growth bumps. New competitive cities emerge (as Austin gets bigger, it may emerge as more competition for DFW and Houston), competitive advantages erode (such as low housing and living costs), booming industries that cluster around the city may experience problems (Houston already had a big collapse in the early 80s due to its dependence on energy, at the metro lost population for 1-2 years; more people were leaving the state of Texas for a few years in the 1980s), etc.

[Owlhorn]

Originally Posted by DCReid

It seems that he is extrapolating based on past growth. However, that almost never happens, so it is basically speculation at this point, as cities hit growth bumps. New competitive cities emerge (as Austin gets bigger, it may emerge as more competition for DFW and Houston), competitive advantages erode (such as low housing and living costs), booming industries that cluster around the city may experience problems (Houston already had a big collapse in the early 80s due to its dependence on energy, at the metro lost population for 1-2 years; more people were leaving the state of Texas for a few years in the 1980s), etc.

Obviously, but it can happen to Chicago as well. I think all we are trying to say is, never say never. In the scheme of things they aren't that far apart in population. History, Culture, built environment they are further apart I think, but again, time.

[skys the limit]

JLB Partners building 1,400 unit luxury apt complex in
Northeast Dallas

Steve Brown, Dallas Morning News, 07-26-13


Developer JLB Partners has started work on what will be one of the largest new rental communities in northeast Dallas.

JLB plans to eventually build almost 1,400 apartments on a 19-acre tract on Skillman Avenue at Amesbury Drive.

The project will replace several blocks of 1960s apartments including the Amesbury Parc project.
.....

“We will start construction in late September.”

Miltenberger said more than 500 apartments will be included in the first phase of the development.

The new JLB rental community will be built on the north side of DART’s rail right-of-way where construction is underway on a new pedestrian trail linking Mockingbird Lane and White Rock Lake.

JLB already has experience in the neighborhood. The company built an almost 300-unit apartment complex on University Drive near Skillman called The Standard.

A few blocks away on Lovers Lane and Matilda builders Carbon Landmark Development and Tradition Senior Living are developing an almost 13-acre site at Street into a combination of apartments and seniors housing.

JLB is North Texas’ busiest apartment builder.

The Irving-based company is currently developing a 311-unit apartment project in East Dallas near Henderson Avenue.

And JLB just announced plans for an 18-story rental high-rise on Uptown’s Katy Trail.

The developer is also part of the team that’s building the $1.5 billion Richardson mixed-use campus that includes offices for State Farm Insurance. JLB will build about 500 apartments in the Richardson project.

http://bizbeatblog.dallasnews.com/20...t-dallas.html/

[toxteth o'grady]

Originally Posted by TTU Arch

There is a difference of a little more than 400K between the Houston metro and DFW with the latest 2012 estimates. Advantage to Dallas. This is a tight population difference that could change with in just a couple of years.

A lot of it will depend on how many counties get added to the MSA's of the two regions. DFW is probably at 6.75 million and Houston is at 6.25 million, with the gap staying fairly steady at about half a million. The 2010 Census showed that estimates of DFW's population were overinflated, so it's hard tpo know whether estimates for 2011 and 2012 are any good, but the DFW jobs market seems to be stronger than Houston's this year (and we'll wait for the year-end revisions).

Interestingly, Houston's nonresidential construction volume appears to be slowing, if the Business Journal is correct, while the rest of Texas is picking up. Not sure what accounts for it.

[toxteth o'grady]

Originally Posted by Owlhorn

one of the best announcements of the year. Some of the renderings of this place look outstanding and its a great location.

Except that it's going to obscure the existing West End from view. I guess you win some lose some.

[TTU Arch]

^ I always find it interesting in topics of the discussion over population numbers between Houston and DFW, some like to assum DFW's numbers are inflated and Houston's aren't... Its nothing new and seems to be one of a few standard responses.... If you go back to my orginal post my numbers are cited from the same source for both metros http://recenter.tamu.edu/.

[Owlhorn]

Originally Posted by toxteth o'grady

A lot of it will depend on how many counties get added to the MSA's of the two regions. DFW is probably at 6.75 million and Houston is at 6.25 million, with the gap staying fairly steady at about half a million. The 2010 Census showed that estimates of DFW's population were overinflated, so it's hard tpo know whether estimates for 2011 and 2012 are any good, but the DFW jobs market seems to be stronger than Houston's this year (and we'll wait for the year-end revisions).

Interestingly, Houston's nonresidential construction volume appears to be slowing, if the Business Journal is correct, while the rest of Texas is picking up. Not sure what accounts for it.

was reading that as well. Also have been talking to a developer who shed some light on each market. He was saying, quite simply that Houston was reaching overbuilt status, specifically in residential. And he says it happens each cycle, so they are having trouble raising equity for new project.

He went on to say that DFW was different. The suburban market is far more established. He said that multi-family in DFW continues to thrive because very specific projects are being requested, especially infill type projects, even in the suburbs. He also mentioned DFW often having a hard time catching up because its had no problem rebuilding over old residential areas that often had more residents before. He mentioned the old midtown project near Presbyterian as well as Oaklawn nearing Parkland and how many units have been torn down. His worry about DFW was the price some are asking for these projects. He thinks rents will curb the demand if developers don't use some common sense and kill that boom. Sounds about right. Have heard plenty of complaints.

He said DFW suburban markets really perform well for office space and there is plenty of equity to be raised. He said Uptown/Downtown was fighting for a few scraps. Not surprising. You'll probably only see minimal office building down there save very specific projects.

What surprised me most from TBJ(and Forbes) was that through Houston's boom, not only did DFW create more jobs in the last year, but also constructed more multi-family and more office space. Never would have believed that. You just never read much nationally about DFW in that regard. Sure DFW makes lists, but you never see the articles.

[Dallas Snob]

Is "US Census Bureau" not a source? Hmmmm......I guess I'm unlcear as to what is then.

There is also a recent (last month) economic paper that was produced on Texas and the large metro areas. Excellent paper. If I can locate it, I will post it.

Originally Posted by sentinel

Uh, source please.

[toxteth o'grady]

Originally Posted by Owlhorn

He was saying, quite simply that Houston was reaching overbuilt status, specifically in residential.

Which is an interesting comment, since residential construction is way up over last year, while non-residential is lagging. ABout the only thing constraining new construction is the lack of available lots.

There are a lot of office buildings going up in Houston in a range between 10-20 stories. There have been a lot of announcements of larger projects, but not all of them will get out of the ground. Hard to say whether the non-residential slowdown is merely a lull or a downward trend.

[jtk1519]

Originally Posted by skys the limit

JLB Partners building 1,400 unit luxury apt complex in
Northeast Dallas

Steve Brown, Dallas Morning News, 07-26-13


Developer JLB Partners has started work on what will be one of the largest new rental communities in northeast Dallas.

JLB plans to eventually build almost 1,400 apartments on a 19-acre tract on Skillman Avenue at Amesbury Drive.

The project will replace several blocks of 1960s apartments including the Amesbury Parc project.
.....

“We will start construction in late September.”

Miltenberger said more than 500 apartments will be included in the first phase of the development.

The new JLB rental community will be built on the north side of DART’s rail right-of-way where construction is underway on a new pedestrian trail linking Mockingbird Lane and White Rock Lake.

JLB already has experience in the neighborhood. The company built an almost 300-unit apartment complex on University Drive near Skillman called The Standard.

A few blocks away on Lovers Lane and Matilda builders Carbon Landmark Development and Tradition Senior Living are developing an almost 13-acre site at Street into a combination of apartments and seniors housing.

JLB is North Texas’ busiest apartment builder.

The Irving-based company is currently developing a 311-unit apartment project in East Dallas near Henderson Avenue.

And JLB just announced plans for an 18-story rental high-rise on Uptown’s Katy Trail.

The developer is also part of the team that’s building the $1.5 billion Richardson mixed-use campus that includes offices for State Farm Insurance. JLB will build about 500 apartments in the Richardson project.

http://bizbeatblog.dallasnews.com/20...t-dallas.html/

I was driving up Skillman yesterday and noticed they have started tearing down the old complex on that site. Exciting development for that area though there are some rather charming old complexes in that area down Sandhurst and University that I hope are safe from the wrecking ball.

But regardless, add this to the growing list of developments along Skillman. This, the Lake Highlands Town Center and the new developments going up North of White Rock Creek. Cool times in Lake Highlands.