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Investment by the public and private sectors
spurred transformation of Downtown from a major employment
center to an increasingly vibrant place to work, live and
play. Since 2000, nearly $573 million has been invested inside
the Downtown freeway loop, from a $125 million expansion of
the Dallas Convention Center to a $75 million renovation of
the Republic Center office tower.
Other significant investments inside the Downtown
freeway loop since 2000 are:
- $70 million construction of Nasher Sculpture Center in
2003
- $25 million renovation of KPMG Centre in 2003
- $65 million expansion of Hyatt Regency Dallas in 2000
- $35 million office-to-residential conversion of the Davis
Building in 2003
- $32 million construction of Camden Farmers Market Phase
I Residences in 2001
These developments were enhanced by nearby
projects such as the $420 million American Airlines Center,
$60 million Dallas Police Headquarters and $9.8 million Latino
Cultural Center.
The Future
An exciting array of projects totaling more than $850 million
– a performing arts complex, parks, signature bridges,
retail businesses and hundreds of new apartments – are
under construction or planned. Other future indicators are:
- Intown housing continues to succeed due to a growing
number of young professionals and “empty-nesters,”
convenient transit and proximity to jobs, entertainment
and cultural amenities.
- The $555 million bond package approved by Dallas voters in May
2003 committed $55 million to Downtown streets, traffic
signals, streetscapes, parks, lighting and cultural and
recreational facilities.
- A resurgent retail market on Main Street prompted Dallas
City Council to approve $2.5 million of City Center TIF
funding for marketing and promotion and a retail recruitment
program to attract 40,000 square feet of non-restaurant
businesses. Key retailers would receive subsidies for tenant
improvements and rent.
To learn more about investing in DOWNTOWNDALLAS,
contact DID for a free Downtown Market Data Package.
DOWNTOWNDALLAS
1412 Main, Suite 2500
Dallas, TX 75202
info@downtowndallas.org
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