Dallas core developments thread (Houston, Austin: brokers, homes, tenants)

[Dallaz]

Originally Posted by oil capital

ahhh, a known fact. If I had nickel for every "known fact" I've read about on these forums . . . Another "known fact" in your post (that Jerry Jones's hospitality team took over operations) is also a stretch. Yes, one of his companies is involved: "Legends, a premium experiences company co-founded by YGE Holdings, LLC, an affiliate of the New York Yankees, and Jones Concessions LP, an affiliate of the Dallas Cowboys and majority-owned by Sixth Street."

So . . . Jerry Jones's company has (presumably) 1/2 of a minority interest in the company that is now running the Discovery District restaurant spaces.

You know what, I had a response written up for a few days in another browser on my IPhone…but I never pressed send.

Something in my spirt told me to wait . And look what that LAWDDD done cooked up! Lololol

Cowboy restaurant will replace Jaxon, the closed beer garden in downtown Dallas

A saloon-style Dallas restaurant named Cowboy Chow is expected to open in late October 2023 on the AT&T campus downtown. Cowboy Chow was created by Jack Gibbons, the North Texas restaurateur behind Sixty Vines, Velvet Taco and Haywire.

Cowboy Chow will move into the freestanding building in the AT&T Discovery District where Jaxon Texas Kitchen and Beer Garden was open from 2020 to mid-2023.

In conjunction with Jaxon’s closure, restaurant management company Hospitality Alliance left the AT&T Discovery District. The restaurants at AT&T’s downtown Dallas campus, including the food hall, are now managed by Legends Hospitality, one of Dallas Cowboys owner Jerry Jones’ companies.

[oil capital]

Originally Posted by Dallaz

You know what, I had a response written up for a few days in another browser on my IPhone…but I never pressed send.

Something in my spirt told me to wait . And look what that LAWDDD done cooked up! Lololol

Cowboy restaurant will replace Jaxon, the closed beer garden in downtown Dallas

Yippee! We'll see how long this one lasts.

[Dallaz]

Originally Posted by oil capital

Yippee! We'll see how long this one lasts.

I mean, the other restaurant did last they just didn't renew the lease but anyway...


____________________________________________

More high-rises coming a long Central Expressway!

Streetlights Residential is already building 2 new residential towers a long Central Exwy. One in The Central development called The Oliver and another in Knox-Henderson called The Galatyn (both were already mentioned in this thread).

20-story residential tower in the works near NorthPark Center mall

The Park Lane development on North Central Expressway includes shopping, apartments and three office buildings. The 35-acre complex, which opened in 2009, is just across the highway from NorthPark Center mall. Since 2010, it has been owned by New York-based Northwood Investors.

Dallas apartment builder StreetLights Residential is working on plans to construct a 20-story residential tower addition to the project starting next summer. The more than 616,700-square-foot high-rise would be built north of the Shops at Park Lane, according to planning documents filed with the state.

Also.......

Goldman Sachs is starting construction of its new Dallas campus

Goldman Sachs plans to house as many as 5,000 employees in its new offices, which will be a minimum of a half million square feet. The first workers could move into the complex sometime in 2027, according to previously disclosed details.

Goldman is scheduling a Dallas groundbreaking next week, according to a report by Bloomberg, which cites details of an invitation to the event. Dallas businessmen Ray L. Hunt, the head of Hunt Realty, and Ross Perot Jr., who is the top Hillwood executive, are to be at the groundbreaking, according to the New York-based news service.

Goldman Sachs representatives declined to comment on the report.

[oil capital]

Originally Posted by Dallaz

I mean, the other restaurant did last they just didn't renew the lease but anyway...


____________________________________________

Sure it “lasted.” For 3 years. It’s very easy to find articles that tell of the problems the restaurants/vendors are having in the Discovery District. Maybe the new management can turn things around and the replacement for Jaxon can last longer than three years.

[Dallaz]

Originally Posted by oil capital

Sure it “lasted.” For 3 years. It’s very easy to find articles that tell of the problems the restaurants/vendors are having in the Discovery District. Maybe the new management can turn things around and the replacement for Jaxon can last longer than three years.

Again, that was the food hall, not Jaxon. It’s like you have a hard time seeing any progress about Dallas that you’re willing to come in a Dallas thread and be negative. It is actually quite strange. You put way too much energy being a hater about a city that you don’t live in. If this was Houston’s thread…I would not care at all. Zero energy would be given. But it’s all good…this thread is a showcase just for you.

[oil capital]

Originally Posted by Dallaz

Again, that was the food hall, not Jaxon. It’s like you have a hard time seeing any progress about Dallas that you’re willing to come in a Dallas thread and be negative. It is actually quite strange. You put way too much energy being a hater about a city that you don’t live in. If this was Houston’s thread…I would not care at all. Zero energy would be given. But it’s all good…this thread is a showcase just for you.

LOL Sorry to rain on your little parade. Sorry, but successful restaurants don't tend to close after only 3 years. Apparently business wasn't good enough to warrant renewing their lease.

[Dallaz]

Originally Posted by oil capital

LOL Sorry to rain on your little parade. Sorry, but successful restaurants don't tend to close after only 3 years. Apparently business wasn't good enough to warrant renewing their lease.

You’re not raining on anything because it’s being replaced before the month is over. You thought you was and that’s the sad part. You know businesses close because of not being able to come to an agreement with the landlord right? Everyone who’s been there knows they didn’t struggle when it come to traffic.

[TeamLynn]

Much of this probably either won't happen or won't happen anytime soon. Many of the high rise projects in place are struggling. Occupancy is good, but rents not high enough and expenses high. There will be many restaurants that try, but high lease prices will cause them to fail. Spaces will be way to big
Financing will be next to impossible on many of these projects...less leverage, higher interest, tough financing for hotels, condos and multifamily. Maybe 3 or 4 years from now if interest retreat.

[oil capital]

Originally Posted by Dallaz

Again, that was the food hall, not Jaxon. It’s like you have a hard time seeing any progress about Dallas that you’re willing to come in a Dallas thread and be negative. It is actually quite strange. You put way too much energy being a hater about a city that you don’t live in. If this was Houston’s thread…I would not care at all. Zero energy would be given. But it’s all good…this thread is a showcase just for you.

It was more than just the food hall. The other restaurant also complained about the situation, before also closing.

[LocalPlanner]

Originally Posted by TeamLynn

Much of this probably either won't happen or won't happen anytime soon. Many of the high rise projects in place are struggling. Occupancy is good, but rents not high enough and expenses high. There will be many restaurants that try, but high lease prices will cause them to fail. Spaces will be way to big
Financing will be next to impossible on many of these projects...less leverage, higher interest, tough financing for hotels, condos and multifamily. Maybe 3 or 4 years from now if interest retreat.

I think restaurants opening in too large and too expensive spaces is a major reason they fail. They have to either raise their prices to the consumer too much to compensate, or do massive volume. You can get away with it in a Manhattan-type environment with tens of thousands of customers that are somewhat captive to the neighborhood, but not most other places, and certainly not in TX.