CRE Briefs: Developers Announce ‘Transformative’ Downtown Dallas Project
Newpark Dallas | Author: BIANCA R. MONTES | Published on: 2020-10-29
Plus, commercial real estate giant moves headquarters from Los Angeles to North Texas, industry veteran Cribb Altman makes more to JLL, and much more.
Hoque Global and its partners will begin construction on what will be the tallest structure on the southern end of downtown Dallas—adjacent to Dallas City Hall, Dallas Convention Center, and Dallas Farmers Market in 2021. One Newpark is the phase-one anchor of Newpark Dallas, a smart district, which developers say will transform downtown Dallas’ southern limits as the city grows south. Hoque Global and development partner Lanoha Real Estate Company will begin building the 38-floor tower in its strategic and catalytic project that will create a major technology and education hub, and that is slated to become the next center of urban growth.
Building off the widely acclaimed and City Council-adopted Downtown 360 Plan, Newpark Dallas has been carefully planned to exemplify smart urban principles and become the connective tissue linking key downtown zones. The streets within Newpark will be full of life with shops and restaurants lining the base of buildings from the Convention Center to Farmer’s Market with wide sidewalks, bike lanes, and urban landscaping.
Newpark Dallas will have over a million square feet of Class A office space, 200,000 square feet of urban retail space, thousands of residential units, a four-star hotel, and a proposed one-million-square-foot educational campus with facilities ranging from pre-K through higher education.
“A project of this magnitude with the ability to transform a city requires bold vision and relentless dedication to making a positive social impact in the community,” said Mike Hoque, CEO & Founder of Hoque Global. “No single person or group can make such an undertaking become reality. It requires a fleet of fearless and mission-focused leaders coming together under a common cause. This is Newpark Dallas.
“A status quo development could have been built several times over,” he continued. “But the opportunity to do something truly special for Dallas will take bold initiative from many stakeholders in our community. We are so inspired and ready to move ahead working together as a community.”
Dale Petroskey, President and CEO of the Dallas Regional Chamber, called the project imaginatively exciting.
“In recent years, we’ve felt the positive impacts of several transformative new developments all around downtown Dallas, and we appreciate Hoque Global’s vision and commitment to making downtown even more attractive for companies looking to locate here and people looking to work and live here,” he said.
Dr. Eric Anthony Johnson, Chief of Economic Development and Neighborhood Services at the City of Dallas, said a major technology and education hub next to City Hall will be a huge economic catalyst that can transform this part of the city and lead to more opportunities for Dallas to continue growing its economic base.
If you would like to visit this article on the web, please follow this link.