Friday, February 06, 2015

South Dallas Ready for the Spotlight

Southern Dallas is bigger than Atlanta, but developers are just starting to recognize its opportunities as revitalization efforts take off. That’s why we’re excited to hear from the experts about the future of this city-sized submarket at Bisnow's The Rise of South Dallas County event on Nov. 25 (8am) at the Sheraton Dallas.
Southern Dallas County is an underserved community, says Corinth Properties EVP Terrence Maiden. He sees unique use development opportunities to bring some of the daily-need services to the community. Plus, there’s an advantage to developing there because of the lack of competition, he says. The challenge is convincing some retailers and grocery stores that they can operate successfullyand be profitable within these areas. The reality is, there are many residential pockets with great population density and solid incomes, Terrence says.
Corinth is finishing up development at the 40k SF Glen Oaks Crossings(southwest corner of I-35 and Loop 12) with national and regional tenants including Walmart, Dollar Tree, Hibbett Sports, CATO, Shoe Dept, IHOP, Taco Bell, Whataburger and QuikTrip. Phase 2 (adding another 30k SF) should start by mid-2015, Terrence tells us. Construction on the retail part of the 211-acre mixed-use Canyon in Oak Cliff (southwest quadrant of Westmoreland Road and I-30) should also start in 2015. Terrence tells us Corinth partnered with Stratford Land Co on the project to develop 30 acres fronting I-30, including a Residence Inn by Marriott to be built along with some national restaurants like Buffalo Wild Wings and others by mid-2015, with a 300k SF regional power retail center set to start immediately after that as part of Phase 2.
Real Estate Bisnow