City Center News
AT&T doubles down on downtown, revamping Dallas HQ and adding 1,000 workers
AT&T has announced that it will be staying at its downtown Dallas headquarters, a four-building complex located at Commerce and Akard Streets. In addition, the company says it will spend several million dollars upgrading its offices, and will add more than 1,000 workers downtown over the next few years. Source: Dallas Morning News, October 8, 2016.
How Klyde Warren Park and The Katy Trail are spurring growth in Uptown
Klyde Warren Park and the Katy Trail continue to spur growth directly next to and around them, from downtown Dallas, to Uptown, and beyond. “Dallas does not have an oceanfront, so Klyde Warren Park is our ocean,” says Scott Krikorian, Senior Managing Director at Trammell Crow, “The market wants to be by the park.” From residential to office to entertainment, development of all kinds are being built. Source: UrbanLand, September 28, 2016.
New media agency lands AT&T, opens shop in Dallas and plans to hire 100 people
New York City marketing agency Hearts & Science, a division of Omnicom Group, has opened shop in Dallas after landing AT&T as a client. Their new office is located across the street from AT&T headquarters, with 30 employees currently in place and plans to have over 100 by year end. Source: Dallas Morning News, October 19, 2016.
The Drever buzzes with builders and leasing activity
In spite of still being under construction, leasing activity is buzzing at The Drever, located at 1401 Elm Street. According to CBRE’s Jack Gosnell, “Retailers are attracted to the careful attention to quality, detail and design that is going into every inch of this mixed-use project, along with the value proposition of the built-in customer base of the building’s boutique hotel, luxury apartments and surrounding residential and office buildings.” Source: GlobeSt, September 29, 2016.
Real Estate News
Construction kicks off on 14-story Virgin Hotel in Dallas Design District
Construction has begun on the latest addition to the Dallas Design District – the Virgin Hotel Dallas, the first of its brand to be built in Texas. Plans for the 14-story hotel include 240 rooms, a rooftop terrace with a pool, spa and gym, meeting spaces, and restaurants. The $80 million hotel is scheduled to open in 2018. Source: Dallas Morning News, October 17, 2016.
Uptown becoming a go-to destination for Dallas coworking shops
Uptown
has become the latest Dallas neighborhood to see an influx of coworking spaces.
On McKinney Avenue, two have recently launched - WeWork, and North Texas’
largest coworking space, appropriately called Spaces. Source: Dallas Business Journal, October 14,
2016.
Small Business News
Dallas fashion designer's growth leads to wonderfully unconventional partnership
Dallas-based womenswear brand Tishcox has partnered with nonprofit Dallas Lighthouse for the Blind. The nonprofit, which works with people who are blind or visually impaired, will sew the line’s high-end garments. Plans call for more than 80 people to be employed within the next five years. Source: Dallas Culture Map, September 29, 2016.
Southern Dallas News
Local developer brings old building back to life in Oak Cliff
Just
steps from the Tyler-Vernon Station in North Oak Cliff, Monte Anderson is
redeveloping a building that once housed the Dixie Wax Paper Company. Built in
1922, the building will be remade into an industrial coworking village that
will open in December. Up to 40 small businesses will be housed here. Many of
the building’s original elements will be retained and incorporated in the new
design. Source: dfw.cbslocal.com, October 23, 2016.
South Dallas makerspace adds electronics lab
Makerspace ACME Creation Lab has added an electronics “E-lab,” offering tools such as an oscilloscope, soldering and rework station, and multimeters. ACME is located in South Dallas, in a converted warehouse space at 1219 South Riverfront Boulevard. Members currently pay $50 per month for access seven days a week, and ACME has announced plans to rent out private studio spaces from 200-300 square feet. Source: Dallas Innovates, October 5, 2016.
Students, workers try new commutes as DART takes rail line to UNT Dallas
Two new light rail stations have opened in Southern Dallas – one at UNT Dallas and another one off of Camp Wisdom Road. The addition of these two stations extends DART’s Blue Line three miles into Southern Dallas and brings the total length of DART rail service to 93 miles. Source: Dallas Morning News, October 24, 2016.
 Economic Review
Dallas unemployment 0.6% lower than U.S.
-
The preliminary unemployment rate as reported by the Texas Workforce Commission for the City of Dallas for September 2016 increased to 4.2 percent. The rate reflects a 2,065 person increase in the size of the city’s labor force.
- September was the 19th consecutive month that the reported unemployment rate within the City of Dallas has outperformed the state’s unemployment rate.
- The reported increases in the city’s labor force and unemployment rate during the month of September are likely due to seasonal factors, including recent graduates seeking employment.
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