Real Estate Symposium on the Redevelpment of Downtown Dallas

Sponsored by the International Council of Shopping Centers

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At a recent real estate symposium sponsored by the International Council of Shopping Centers, a panel discussed the incredible progress that is happening in downtown Dallas and what developments to expect in the future.  The panel included John Sughrue, CEO of Brook Parnters, Jack Gosnell of UCR, Joel Pustmueller, Peloton Commercial Real Estate.

Dallas is such a vibrant, dynamic city; but it has always been conspicuously absent from the lists of gateway cities. What's next for Dallas seems to be what the other gateway cities have in common: a strong urban infrastructure. Sughrue, who’s building the $200 million Museum Tower condo project in downtown’s Arts District, said he’s optimistic the retail will follow the growth downtown.  According to Gosnell, a major turning point in the evolution of Downtown Dallas will be when grocery stores have parcels of land under contract in the downtown area.  Soft goods retailers will come when there is a vibrant residential downtown and when the daytime office population moves from the tunnels to the streets.  Approximately 6,000 full-time residents live in apartments and condos downtown and more than 100,000 office workers call downtown Dallas home.  Retail follows density.

The city is committed to a 360 plan to transform Dallas into a 24-hour city. Downtown Dallas already has all the assets: the sports, the restaurants, the entertainment, and the people. What's next? Ultimately, the 360 plan will create implementable steps in order to bolster residential areas, support investment in downtown transit and create an enlivened, urban infrastructure. So much has already been done to make Dallas the city we've come to know, but more involvement and interest will complete Dallas's redevelopment into an international, gateway city. 

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