Dallas is looking to turn empty parking lots into gold — or at least its real estate equivalent.
The city wants to create a mixed-use, tech-friendly downtown neighborhood in the vacant lots behind its City Hall, PaperCity reported. Called Newpark Dallas District, the proposed 20-acre development has a price tag of $3.5 billion. The plan is for the “smart neighborhood” to attract more tech companies to Dallas.
The redevelopment just won city approval as a subdistrict of Dallas’ Downtown Connection Tax Increment Funding District, qualifying it for state grants that allow construction to begin on its first phase, a 38-story tower called One Newpark.
With an estimated cost of $400 million, One Newpark will have 225,000 square feet of Class A office space, 268 mixed-income apartments and 245 hotel rooms. Dallas-based Hoque Global and Omaha-based Lanoha Real Estate are developing the building. Merriman Anderson Architects and Studio Outside Landscape Architecture, both based in Dallas, are also part of the development team. Moss Construction of Florida is the contractor
The Newpark Dallas district is being planned in an effort to revitalize a downtown neighborhood and attract more tech companies to the city. The neighborhood layout plan includes streetscapes and wide, pedestrian-friendly sidewalks. One Newpark’s design includes terraces and gardens, and its lower floors will have retail stores, separate lobby entrances and parking.
The planned area for Newpark Dallas District is a strip between the southern edge of downtown and I-30 near the Dallas Convention Center. Hoque said he hopes this will help connect the downtown development with recent projects in South Dallas. Lanai said its location near the convention center and the freeway will encourage multimodal transportation.
Part of the smart neighborhood will also be adjacent to the once-controversial postmodern Dallas City Hall, designed by IM Pei and completed in 1977. Fittingly enough for a tech-centric neighborhood, the building was a filming location for the movie Robocop from 1987.
[PaperCity] —Cindy Widner