City Center News
Victory Park’s redevelopment is beginning, with a focus on
pedestrian-friendly improvements to Olive Street and Victory Park Lane.
Phase One, slated for completion in late 2014, will improving
connectivity between American Airlines Center/Victory Plaza and the
southern area of Victory Park. Source: Victory Park, May 14, 2014.
The renovation of the 33-story, 844,000 sq. ft. tower at 2100 Ross is
almost complete. Cousins Properties purchased the 32-year-old building in 2012. Already, the occupancy
rate has gone from 60 percent two years ago to more than 80 percent. Source: Dallas Morning News, May 22, 2014.
The Dallas Entrepreneur Center (DEC) is moving into a 10,000 sq ft space
at 311 N. Market St in the West End neighborhood of downtown. Since the
Center began almost a year ago, it has been operating from Dallas-based
SoftLayer’s data center on Stemmons Freeway. Source:
Dallas Morning News, May 26, 2014.
In Uptown, between Victory Park and CityPlace, there are a number of
large projects under construction or in the works, including five
apartment towers. Source: Dallas Morning News, June 5,
2014.
Crescent Real Estate Holdings has broken ground on its $225 million
20-story office and retail tower designed by world renowned architect
Cesar Pelli. The 87-year-old architect designed the building that will
be a new feature in Uptown, at McKinney and Olive Streets. Source: Dallas Business Journal, June 19,
2014.
Real Estate News
Amazon has signed a lease for 88,615 square feet of office space at
13455 Noel Road in Two Galleria Tower, just north of LBJ Freeway,
adjacent to the Galleria shopping mall. Their offices will include five floors, with the option to lease more space in any of the three
Galleria office towers. Source: Dallas Morning News, May 22, 2014.
Presbyterian Village North has a $93 million expansion underway. The
addition of 350,000 square feet will include two independent living
buildings; a lifestyle fitness center with a larger group workout room,
additional locker rooms, a jacuzzi spa and new swimming pool; a
transitional care unit; and the expansion of an assisted living building. Source: Dallas Business Journal, April 30, 2014.
Southern Dallas News
Cienda Partners recently purchased the 16-acre property that has been
the Oak Cliff Dairy for almost 80 years. The property is on the edge of
the Oak Cliff neighborhood abutting the Trinity River, at the foot of
the Jefferson and Houston bridges. Source: Dallas Morning News, May 29, 2014.
The new Lancaster Urban Village, at 4400 South Lancaster Road, is the
first of three housing, retail and office projects underway in the
Lancaster Corridor. The area includes the Veterans Affairs Medical
Center and a DART rail station, positioning developments to be
transit-oriented. Source: Dallas Morning News, June 12,
2014.
General News
Top Pot Doughnuts opened its first location outside Washington State in
Dallas, on Hillcrest Road just north of Northwest Highway. The store
will reflect the brand's blond wood decor, natural light and library
fee, with a focus on traditional doughnuts, ready for take-out in
signature red and blue boxes. Source: Dallas Morning News, May 22,
2014.
 Economic Review
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The City’s preliminary unemployment rate for May 2014 increased by 0.4 percentage points to 5.5 percent.
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The rate’s change was a result of large increase in the net number of jobless residents and a relatively small net increase in the city’s labor force.
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