Explore all the upcoming projects happening in Downtown Dallas and discover the economic vitality of our city’s center.
From a resurgence of corporate relocations to residential, hotel and commercial development projects, CEOs, developers, and small business owners are all finding value in having an address Downtown. Just this past year, over 90 developments have been announced or have begun construction.
In fact, Dallas has become one of the best places to do business. This year, Forbes named Dallas the fifth best big city for jobs, the fourth best city for young professionals, and the third fastest growing American city.
With high scores in living environment, quality of workforce, and tax and regulatory environment, as well as proximity to important assets like DFW Airport, Love Field, and the Inland Port, Downtown Dallas is considered an epicenter of domestic and international investment activity.
Downtown Dallas currently has:
As a region, North Texas has been reported by several national surveys as one of the top growth markets in the U.S. for the 24-38 age bracket. Such news bodes well for Downtown Dallas, as research from CEOs for Cities shows:
The Downtown commercial office market is generally defined by two primary submarkets, the Central Business District (CBD) and Uptown/Turtle Creek.
The Downtown CBD submarket is comprised of approximately 30 million square feet of multi-tenant office space, and contains more Class A space than almost any other regional submarket at over 20 million square feet. Class A product represents 75 percent of the total inventory. The Uptown/Turtle Creek submarket consists of approximately 11 million square feet of multi-tenant office space, with 87 percent classified as Class A product.
More than 50 companies relocated to or renewed their leases Downtown in the last year. According to Xceligent's Office Market Report, net absorption in the core was 480,555 square feet in 2015.
According to last year's Dallas Business Journal "Book of Lists", Downtown is home to:
For a list of recent corporate relocations, please contact us at firstname.lastname@example.org or 214-744-1270 (available to DDI members only).
Many of Downtown's districts are flourishing with news of leases, groundbreakings, and openings. Last year, we saw over 50 new restaurants/bars open and this year, 67 new restaurants have either opened or been announced in Downtown. And with all the recent retail openings, there are now over 170 places to shop.
More than 45,000 residents call Downtown Dallas home, over 9,000 of whom live in the urban core. Occupancy remains strong. In the core, stabilized rental properties quote occupancy rates of more than 93 percent.
The Downtown resident is primarily of the “young professional” demographic between the ages of 25-36. However, an “empty nester” component is also present as more baby boomers look to downsize and transition into an urban environment. There is also a growing sector of families.
At the end of 2015, more than 5,500 units, including 2,085 in the urban core, were under construction in the 15-district Downtown area (as defined by the Downtown Dallas 360 plan). Units range from rentals and condos to lofts, luxury apartments, and townhomes. These 5,500+ units will translate to an estimated additional 6,500 residents.
For an inventory of housing units, please contact us at email@example.com or 214-744-1270 (available to DDI members only).