Retail development is in full swing in each of the 15 Downtown districts, with much attention on the Main Street District. The Joule’s $78 million expansion project, almost two years in the making, is just about complete.
Located in the heart of downtown on Main Street, The Joule now has two lobby entrances on both Commerce and Main Streets. Traffic LA Men’s was the first of the new high-end fashion spaces to open in March, with TASCHEN Library, TenOverSix, TenOverSix Presents, and Weekend Coffee not far behind. Up next is Traffic LA Women’s, ESPA, an 8,000 square-foot luxury spa, a Consilient Restaurant concept called CBD Provisions, and craft cocktail lounge called Mirth & Refuge. The Joule is, of course, still home to Charlie Palmer and Next Vintage wine shop. The expansion also brings a new rooftop terrace, penthouses and additional ballroom space.
In addition to the exciting restaurant and retail spaces being added to the Main Street District as a part of The Joule expansion, there are a variety of other new neighbors moving in on the block. Downtown Dallas Inc. and KRLD “Pulse of the City” special guests got a sneak peek (or taste) from newcomers Freshii, Fluellen Cupcakes (opening in July), and Hospitality Sweet, at a recent event hosted at Traffic LA.
And there are more coming—including Urban Orchard Market, Bar None Café and Urban Vineyard, all occupying the ground floor in the Interurban Building. Capriotti’s new location in the Mercantile Building is now open, and Wingbucket, on the ground floor of the Metropolitan, is slated to open this fall. There’s also no shortage of new coffee shops downtown, with the addition of Pearl Cup in the AT&T Performing Arts Center Information and Ticket Office, Weekend Coffee in The Joule, and Stupid Good Coffee at 1910 Pacific.
The Design District has also had its share of openings, with new showrooms being announced almost weekly, along with plenty of new food and entertainment venues, like newcomer Ascension Coffee, and soon-to-be neighbors Pak Pao Thai and Bowlounge.
In the Civic Center, plans were recently presented for improvements to the Kay Bailey Hutchison Convention Center and the Omni Dallas Hotel, including 15,000 square feet of restaurant and retail space, with 350 underground parking spaces. The hotel, funded with bond money, came in under budget when it was completed in 2011, which could provide funding for the proposed improvements.
Scott Rohrman, a developer with 42 Real Estate LLC, who has assembled more than 30 properties (including parking lots and buildings) in Deep Ellum, has seen more than 12 leases signed with restaurants, lounges and retail operations this year. Additionally, Deep Ellum has welcomed several new neighbors recently, including Work Bar & Grill, Glazed Donut Works, Twilite Lounge, Pepe’s Ranch, and Tanoshi Ramen (opening soon).
By now of course, most of you have heard about the exciting developments in the Farmers Market, which include significant retail and restaurant additions. The completed project will include recreational and dining amenities and showcase locally grown produce and goods. Just this week, we received the announcement that DF Market Holdings (principals Brian Bergersen, Blair Black, Janet Cobb, and Ruthie Pack), completed the transaction to take ownership and management of the Dallas Farmers Market from the City of Dallas. DF Market Holdings’ plan was inspired by the Downtown Dallas 360 Plan to revitalize the area’s physical, economic and social environments.
Victory Park developers are working to recruit additional retail in the area and are investing $30 million in overall improvements, slated to be complete within two years. And we’ve seen similar stories in the remaining districts like South Side, The Cedars, West End Historic District and Uptown.
We continue to be optimistic about continuing these trends moving forward. The City of Dallas recently approved $9 million to implement portions of the Main Street District Retail Activation Strategy, part of the Downtown Dallas 360 plan. Funds will be used to assist property owners with activating their ground floors, with programs that address white boxing, ‘pop up’ tenancy, glass-box kiosk retail, and outdoor cafes. Criteria and details on the application process will be released this fall.
Be sure to tune into “Pulse of the City”, presented by the Dallas law firm, Munck Wilson Mandala LLP, our weekly roundtable radio program devoted to topics such as this one with a special focus on issues and opportunities associated with North Texas and Downtown Dallas. The weekly KRLD 1080 AM program is broadcast Sundays at 9 a.m. and can also be heard on demand.