Real Estate News
Parmenter Realty Partners recently purchased the 42-story Cityplace
tower and plans to develop the property’s vacant land that surrounds the
tower. At Haskell Ave. and N. Central Expressway, the site is near the
booming Uptown district. Source: Dallas Morning News, Nov 18, 2013.
A new 22-story tower broke ground in the 18-block Harwood District this
December at 2950 N Harwood St. The 167,251-square-foot Frost Tower is
being built to suit the bank, with 57,000 square foot of office space
leased, plus a 5,000 square foot ground-floor presence. Floors 10-14
will house the bank’s corporate offices. Source: Dallas Business Journal, November 22, 2013.
General News
Etihad Airways announced this month that in December 2014 it will
begin offering three flights per week from Dallas/Fort Worth
International to its Abu Dhabi hub. Etihad Airways is the third
and most recent Middle Eastern airline to fly direct into D/FW
International. Qatar Airways, announced service from Doha, Qatar, to
D/FW Airport in July 2014, and Emirates Airlines began service from
Dubai in 2012. Source: Dallas Morning News, December 12, 2013.
At the corner of Gaston Ave. and Munger Ave. in East Dallas, a 50-year old
apartment building is being redeveloped into a neighborhood gem named The
Greenhouse. The exterior and landscaping have been spruced up with faux
topiary bushes and a large silver sculpture. Inside, the 1960s units
are being renovated with wood floors, marble bathrooms and high-tech
fireplaces. Revamped interior courtyards showcase fountains, fireplaces,
custom seating areas and swimming pools. Source: Dallas Morning News November 28, 2013.
Chanel designer Karl Lagerfeld drew inspiration from the American
West for his annual Metiers d'Art traveling fashion show, held Tuesday night December 10th in Dallas. Chanel turned one of the halls at Fair Park,
Dallas' Art Deco exhibition venue, into a barn for the night, complete
with a hay-scattered runway. Source: Associated Press, Dec 11, 2013.
Southern Dallas News
Children’s Medical Center opened its 16th location this month at 4922
Spring Avenue in the Mill City neighborhood of South Dallas. The medical
facility was developed in partnership with Innercity Community
Development Corp., a community-based non-profit group serving South
Dallas. Source: Dallas Morning News, Dec 10, 2013.
The second phase of the Trinity Groves development will elevate it from
innovative dining in a remade warehouse district, toward a full-service
neighborhood. The first phase of the new housing component will
include 250 to 350 apartments, to begin construction in 2014 and be
complete in late 2015. Source:
Dallas Morning News, Dec 8, 2013.
City Center News
Invesco Ltd, a top investment firm, is moving its regional office to the Trammell Crow Center tower on Ross Ave in
downtown Dallas. The firm’s offices will house its real estate advisory business. Next year
the firm will have 42,750 square feet on two floors of the Crow tower. Source: Dallas Morning News, Dec 9,
2013.
In June 2014 the New Cities Foundation will host its annual New Cities Summit at the Winspear Opera House in the Dallas Arts District.The
New Cities Foundation aims to find solutions to the challenges that
will come with massive urbanization in the 21st century. Previous
summits have been hosted in Paris in 2012 and São Palo in 2013. The Dallas summit is expected to attract about one thousand
attendees from 40 countries to discuss proactive programs to deal with
issues like sustainability, poverty and social tolerance. Source: CultureMap,
Dec 10 2013.
Plans for the revitalization of the downtown Dallas Farmers Market include
redevelopment, and new construction by DF Market Holdings. With a $15
million grant from the recently expanded Farmers Market Tax Increment
Finance District, the $65 million project has already begun the design
process. Streetscaping work will begin by February. Source: Dallas Morning News, Dec 2,
2013.
 Economic Review
- The City’s unemployment rate decreased by 0.3 percentage points to 6.1 percent.
- The decrease occurred despite a seasonal increase of Dallas residents into the labor force (see Table 2).
- Dallas’ rate continues to outperform the national unemployment rate by 0.5 percentage points.
- The City economy has outperformed the national unemployment rate every month for six years starting December 2007.
More Dallas Economics
|
