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BIG D DEVELOPMENT

At the moment, most developers are like we were last night:spectators. But Matthews Southwest?s Jack Matthews is in the game. He's announced plans for a third NYLO Hotel south of Downtown Dallas and is working on the renovation of the nearby 1913 Sears catalog center into South Side on Lamar residential lofts, plus the city-owned Omni Dallas Convention Center Hotel (six acres with skybridge access to the convention center) opening in2012. How does the firm stay active? Time management, cost controls, and controlled expansion (its corporate philosophy isminimizing risk and maximizing long-term profit). To that end, lot sales at its 1,500-acre master-planned Tribute Resort golf community on Lake Lewisville, which opened a second course last year, increased 100% in 2010.
The NYLO Dallas South Side (rendered above), at South Lamar and Belleview, will be the first conversion property in the chain and the first to pursue LEED Silver. Jack wants to transform South Lamar into a hip and safe area and brings to the table an urban master plan from Foster+Partners. Breaking ground this quarter, the NYLO will provide an amenity for residents and businesses (and boost that master plan) when it opens Q1 2012. (The rooftop bar certainly piques our interest.) It's one block from the DART Cedars Rail station, three blocks from the convention center hotel, and walking distance to Gilley's Dallas and the Palladium Ballroom.

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