R E A L E S T A T E MAY 2016

Similar documents
Preservation Issues in Downtown Dallas & Discussion of a Proposed CBD Demolition Moratorium

Millennials Going to Kansas City, to Live and Work

Update on Section 108 Guaranteed Loan Application Projects

Frequently Asked Questions

MOSAIC l Former Restaurant Space Dallas, TX 300 N. Akard Street

Kings Highway 8 Units 1202 Kings Highway, Dallas, TX

Q+A: Why investor is sure buyers will seek out his southwest valley condos

Unique Opportunity to Redevelop in the Heart of Downtown Rochester

Like Your Apartment s Design? Thank Your Agent

Unique Opportunity to Redevelop in the Heart of Downtown Rochester

Rents Up, Occupancy Steady

Estimating Commercial Land-Use Conversion: Case Study of Athens-Clarke County, Georgia

Richard O. "Rick" Kopf

Building Wealth in Chunks

Blackstone-Fueled Single-Family Home Boom Lifts Chicago

Texas Housing Impact Fund 2018 Investment Report

! August!19,!2013! Artspace)Hamilton)Lofts) Narrative)on)work)scope)and)schedule)!

WINTER 2016 OMAHA, NEBRASKA INDUSTRIAL MARKET REPORT

JOIN THE NEIGHBORHOOD

Mark Campbell, M.Photog., Cr., CPP, API

Chelsea High Life: A Park, Galleries and Luxury Shops Attract New Residents

GROUND LEASING OF PUBLIC LAND FOR PRIVATE SECTOR DEVELOPMENT

HEALTHCARE REAL ESTATE CASE STUDY

MULTI-TENANT RETAIL CORE INVESTMENT

±7.0 ACRES COMMERCIAL LAND NEQ S COLLINS ROAD & CLAY ROAD SUNNYVALE, TEXAS OFFERING MEMORANDUM

April 2015, Volume 24 Issue 4. Q Round Up

High-priced homes have a unique place in the

U.S. Bank Tower - Los Angeles, CA

Rare Downtown Los Angeles Purchase or Lease Opportunity. 741 Maple Avenue, Los Angeles, CA 90014

BEGINNING OF PART 5 OF 6 PARTS. Innovative ordinance adopted

Financing Mixed-Use Development June 24, 2013

CANADIAN RECOVERY REMAINS FRAGILE

BBC Learning English 6 Minute English 14 February 2013 Reaching for the sky

E. G. RANCH LOCATION, LOCATION, LOCATION!!!

Commercial and Multifamily Construction Starts in 2016 Rise in Most of the Top U.S. Metropolitan Areas

East Side Tour P1 P2 P3 P4 P5 P6. Tour Itinerary PAGE 1

CONSTRUCTION PAPER. A breath of fresh air

HISTORIC OFFICE BUILDING PARKING STRUCTURE FOR SALE OR LEASE > DOWNTOWN FRESNO MALL, FRESNO, CA SECURED PARKING STRUCTURE

Monthly Market Snapshot

A Star Is Horn: How Ken Horn Redeveloped the Woolworth Building

THE UNION STATION HOTEL. Nashville, Tennessee

Our Properties. Renaissance Lofts

UNIVERSITY DRIVE, COLLEGE STATION

Center Point Business Park

HISTORIC PRESERVATION PAYS FOR ITSELF

A G E N D A Thursday, March 9, :30 PM

GROUND LEASE AND RETAIL OPPORTUNITIES Convention Center District

Curriculum Vitae Mary Conlan, CPM 387 Seminole Dr. NE, Marietta GA Cell:

Strengthening Market Fuels Investment Opportunities

ZAPATA COUNTY HUNTING/RECREATIONAL RANCH

EXECUTIVE SUMMARY. 95 Metcalf Square 7171 W 95th Street, Overland Park, Kansas

THE PRICIEST LEASE IN NYC HISTORY MAY HAVE JUST BEEN SIGNED

How to get and repair Uno Prii Annex grooviness

WE CREATE RETAIL DESTINATIONS

PREMIER JACKSON SQUARE OFFICE BUILDING PACIFIC SAN FRANCISCO EXCLUSIVE ADVISOR INVESTMENT OPPORTUNITY

Class A Office For Lease 8 West Third Street Winston-Salem, NC 27101

Retail & Restaurant Opportunity NEW SHOPS, PAD and DRIVE-THRU AVAILABLE. W/NWC Scottsdale Rd & Thomas Rd Scottsdale, AZ

Broadway. San Diego, CA Casey Young VICE PRESIDENT (619)

2009 The Monday Morning Quarterback


All Star Home Group Realty Landlord Investor Network (972) LBJ Fwy, Suite 610,

HARVARD GRADUATE SCHOOL OF DESIGN. Richard W. Jennings, D.Des., FAIA

FOR LEASE FULLY BUILT OUT OFFICES 3050 BISCAYNE BOULEVARD MIAMI FLORIDA

Downtown Target Area Housing Implementation Strategy

Abu Dhabi Real Estate Market Overview Q3_2017

1776 Woodstead Court, Suite 218 The Woodlands, TX cypressbrook.com

Presenting. The Beury Portfolio. Inquiries: Imar L. Hutchins, Esq. (212)

An Update on Development in Long Beach

PACIFIC PARK BROOKLYN OVERVIEW: LOCATION & HISTORY

Embracing Change, Keeping an Edge

DENNIS D. FRENCH Country Club Drive #100 Palm Desert, CA (760) (760)

Press Release. Commercial Real Estate - Digital Opportunities in a Shifting Industry

Appealing Places to Live PUBLIC-PRIVATE PARTNERSHIPS TO DEVELOP ATTAINABLE HOUSING

Retail Income Property with Mixed-Use Development Potential for Sale 1250 Mendocino Avenue, Santa Rosa, CA

FITNESS CLUB OPPORTUNITY 1150 SOUTH OLIVE STREET & 1149 SOUTH HILL STREET, LOS ANGELES CA

DTLA PRIME CREATIVE OFFICE SPACE LEASE OPPORTUNITY Adjacent to Fashion District & Arts District

DOWNTOWN LOS ANGELES DEVELOPMENT SITE 9,690 SQ.FT. OF LAND

YOUR GUIDE TO SHARED OWNERSHIP. A guide to Shared Ownership

The Market Is Energized By Increased Development In Hollywood

By JENNIFER CALFAS August 9, 2018

PLANNING COMMISSION REPORT Regular Agenda - Public Hearing Item

Tulsa Development Authority Board of Commissioners Meeting Executive Director s Report. November 2016

NORTHERN STACKS Where industrial meets ecological.

Current Functions (Enter categories from instructions) Materials (Enter categories from instructions)

Two Penthouses Sell for $60 Million, and John Mellencamp Buys in SoHo

VACANCY COMPLETIONS RENTAL RATE. *Projected $1.70. Vacancy Rate 14.9% 14.4% $1.60 $1.50 $1.40 $1.30 $1.20

34-Unit Development in Downtown San Pedro San Pedro Neighborhood Council Presentation December 19, 2018

This summer, I participated in an internship with Alamo City Brokers based

Schine Memorial Hall, LLC Business Plan. January 24, 2012

The Transamerica Pyramid, at 600 Montgomery, is unique to San Francisco, a world class icon of highest quality, amenities, and service.

1515 Santa Fe Ave 04 EXECUTIVE SUMMARY 06 PROPERTY DESCRIPTION 09 LOCATION OVERVIEW 19 MARKET COMPARABLE 24 MARKET OVERVIEW.

ZONING ORDINANCE ADVISORY COMMITTEE THURSDAY, May 17, 2018 DALLAS DEVELOPMENT CODE AMENDMENT FILE NO. DCA Planner: Vasavi Pilla

28 Historic Rehabilitation Projects Receive State Support

BROWNFIELD ADVISORY COUNCIL REDEVELOPMENT TAX CREDIT PROGRAM FY 2019 Recommendations October 2018

Site & Architectural Design Study for the Conversion of Parking Lots

MEMORANDUM REGARDING: DATE September 13, 2016 PROJECT NO Mill Creek Residential Trust 411 Borel Avenue, Suite #405 San Mateo, CA 94402

Sixth + Westlake Westlake Avenue. Free Standing Single Tenant. WESTLAKE ave. Colliers International 601 Union Street, Suite 5300

GATESVILLE BEWARE!! More Observations & Warnings by Our Land Our Lives About Conservation Easements/Purchase of Development Rights

The supply of single-family homes for sale remains

RA2.01. Building Area: 89,222 SF. Cost per Square Foot: $162.22

Transcription:

R E A L E S T A T E MAY 2016 This artist s rendering shows Merriman Associates redevelopment of the 52-story former First National Bank tower in downtown Dallas. (Contributed - Merriman Associates Architects )

The Mosaic apartments are in two converted office towers in downtown Dallas. ( contributed - Merriman Associates Architects ) Merriman Associates was the architect for converting the Mercantile Continental building (at right) into downtown Dallas apartments. (Contributed - Merriman Associates Architects ) (Contributed - Merriman Associates Architects)

This artist s rendering shows Merriman Associates design for the century-old Dallas High School, which is being converted into office space. (Contributed - Merriman Associates Architects ) (Contributed - Merriman Associates Architects) The historic Lone Star Gas buildings were converted to apartments. ( David Woo - Staff Photographer )

Merriman Associates first downtown Dallas renovation project was the Interurban Building on Jackson Street. (Contributed - Merriman Associates Architects ) Standing in front of Dallas landmark Statler Hotel, architect Jerry Merriman is quick to point out work under way high up on the exterior. All those colored panels have cleaned up very well, Merriman said about the 60-year-old Commerce Street building. We ve kept almost all of the original glass. It s really going to look great when it s done. The 30-year-old architecture firm has done work on more than a dozen downtown historic building projects over the last decade, redesigning big chunks of downtown Dallas skyline. Its current projects include the two largest redevelopments ever downtown the $175 million redo of the Statler and the $240 million renovation of the 52- story former First National Bank tower. We have lots of other projects that don t get as much attention, Merriman said. Renovation work in one form or another is probably 30 percent of what we do.

Merriman Associates designed Bell Helicopter s worldwide office headquarters and training center in Fort Worth. It did diesel engine manufacturer Cummins new industrial facility in Southwest Dallas. The firm is the architect for a new convention center hotel on the way in Amarillo and an office park in Austin. But it s the landmark building reboots that get the Dallas-based firm the most attention. This wasn t an area we originally planned to focus on, Merriman said. I don t think we knew any better. Merriman Associates first downtown historic project was restoration of the century-old Interurban Building on Jackson Street. Built as the hub for a North Texas electric railway system, the nine-story building served as a bus station for years with offices on the upper floors. Merriman Associates did designs to convert it into 118 loft apartments and ground floor retail space in 2005. It gave us some credibility it was a historic building, a National Park Service project, Merriman said. Then we got a big boost when Hamilton Properties hired us to do the Mosaic apartments. We wouldn t be here today doing this if they hadn t given us the job. Collaborative process Hamilton Properties with Merriman Associates as architect converted two vacant insurance company towers on Akard Street into downtown s largest apartment community. Merriman went on to do the four-building Lone Star Gas redevelopment for Hamilton Properties on the southeast side of downtown. They ve gained a lot of experience in something that is quite different from ground-up construction, said developer Larry Hamilton. It s a collaborative process with the developer and architect. They ve been good to indulge us as we ve worked with them on these projects.

Merriman Associates is also doing Hamilton s latest development, rebuilding a former Ramada Hotel on Akard Street near the convention center. It s being converted to a 237-room Lorenzo Ascend Hotel that will open in January. Increasingly, the projects that Merriman Associates is working on were built in the 1950s, 1960s and 1970s. 1950s buildings are now historic, said Merriman Associates vice president Milton Anderson. It is a little bit different than an early 1900s building. Developer Forest City Enterprises hired Merriman Associates to convert the Mercantile Continental which was completed in 1959 into apartments. Converting an office building to a residential building or a hotel is challenging, said Jim Truitt, Forest City vice president. Jerry and his team are very good at that. You always run into unknowns with these projects, no matter how much you do. Across the street from the Mercantile Continental at 1712 and 1700 Commerce, Merriman Associates designed three new hotels to occupy the former office buildings. The project by hotel firm NewcrestImage is just finishing construction. Expanding its reach The former First National Bank building redevelopment which stalled last year and is about to restart with new owners will be one of the largest skyscraper conversions in the country. New owner Drever Capital from California kept Merriman Associates on the project to tweak earlier plans. The most recent proposal includes 335 rental apartments, a 225-room luxury hotel and spa, shops and restaurants. The current program is to put the hotel in the lower portion of the tower and apartments above that, senior associate Aimee Sanborn said. It s heavy mixed-use with retail on the ground floor. With 55 people in the firm s Dallas office, Merriman Associates has expanded with operations in Austin and Charlotte, N.C.

The company has dramatically changed directions from its start in the mid- 1980s, doing office and industrial building designs for developers including Trammell Crow Co. At one point we had a three-year contract with Trammell Crow, Merriman said. The architect expanded its renovations business to projects in Oklahoma, St. Louis and San Antonio. New project work has also taken Merriman Associates to Singapore and Abu Dhabi. I don t know where the growth will take us it s not like we ve said we have got to be a 200-person firm, Merriman said. One opportunity tends to lead to another. Merriman s downtown renovation projectscompleted Interurban Building: Residential/retail The Mosaic: Two-building residential/retail Mercantile Continental Building: Residential/retail Gulf States Building: Residential/retail Mayfair Department Store: Residential/retail Lone Star Lofts: Four-building residential/retail/affordable housing 1600 Pacific (LTV Building): Residential/hotel Under construction Statler Hotel and Residences: Apartments, hotel, retail, office 1712-1700 Commerce: Three hotels 500 S. Ervay (Butler Bros. Building): Hotel/residential/retail Dallas High School (Crozier Tech): Office/retail

Lorenzo Hotel: Hotel renovation Mayflower Building: Residential 1400 Elm (First National Bank): Hotel/residential/retail and office SOURCE: Merriman Associates