Hot 'Hoods: Midtown
Scott Beck believes in securing our borders. No, not those borders. Dallas' borders. Its northern border, to be more specific.
Reinforcing our northern city border makes our CBD stronger and allows us to keep growing south, the Beck Ventures CEO tells us. And the development that's going to do it? Midtown.
Beck is the largest contiguous landowner in Midtown's 450-acre district surrounding the old Valley View mall. Its 70 acres will have every aspect of mixed-use ready to be a "catcher's mitt" along LBJ, Scott tells us.
Beck Ventures' first phase of development will have 450k SF of retail, 200k SF of office, 600 apartment units, a cinema and a 250-room boutique hotel on 14 acres of its total 70. After demo of the mall in Q1 2017, Beck will deliver Phase 1 in 2019.
Think Uptown's West Village, but about five times bigger and with a park about five times the size of Klyde Warren, Scott says.
A $350M TIF fund helped make the area defined by I-635, Dallas North Tollway, Spring Valley Road and Preston Road (or really US-75 if you're being liberal) appealing for many big Dallas players.
Hillwood Urban will develop a high-rise office tower with at least 200k SF on 20 acres on the northwest corner of I-635 and Montfort.
Mill Creek Residential and Elite International Investment Fund will deliver 321 units of multifamily at Modera Galleria between the Galleria and Valley View in May 2017.
Civitas Capital and Atlantic Hotels will deliver a 256-room AC by Marriott and Residence Inn in spring 2018 as anchor hotels in the district.
CBRE just pumped $16M of renovations into Galleria Towers.
By planting a flag worth about $22B in development, Beck and other developers are providing an answer to businesses and residents who want to live north, but still in Dallas.