New $3.5 Billion Dallas District and Its Signature 38-Story Tower to Move Forward With Construction — Newpark is Coming
Turning Deserted Parking Lots Into a New Tech Friendly LandBY Courtney Dabney // 05.03.22
Newpark Dallas is set to transform the southside of downtown Dallas.
One Newpark will be the first piece of the overall site plan to become a reality.
The entire project will revitalize a decaying sector of Dallas, with vibrant and walkable thoroughfares.
The vision of the Newpark Dallas District now has TIF funding in hand.
Newpark Dallas District, a proposed new master-planned multi-phase development, has reached a new milestone. The $3.5 billion, 20 acre smart district received approval as a subdistrict of the Downtown Connection Tax Increment Financing (TIF) District, which will provide public subsidies to move it along. This allows construction of the first phase to begin, which is the 38-story tower dubbed One Newpark.
Located in downtown Dallas, a now empty series of parking lots behind City Hall will become Newpark. The idea of the new district centers around attracting technology firms to Dallas. Newpark Dallas District is set to become one of the catalyst projects that the City of Dallas TIF hopes will set the stage for further investment, especially in the tech sector.
Ultimately the goal is to further develop downtown Dallas, making into more of a vibrant, destination neighborhood.
The developers of the project are Dallas-based Hoque Global and Omaha-based Lanoha Real Estate Company. The rest of the team that has worked on the master plan of the site and One Newpark tower includes Merriman Anderson Architects, which is headquartered in downtown Dallas; Studio Outside Landscape Architecture which is behind the design of the acclaimed AT&T Discovery District and many other projects; and Moss Construction.
“We have been working on this project for several years, taking the time to curate exactly what this community wants and needs,” Hoque Global CEO Mike Hoque says in a statement. “Given the opportunity, One Newpark would set the tone for future development in the area and bridge the gap in investment between Downtown Dallas and Southern Dallas.”
The estimated costs for the initial tower are close to $400 million. One Newpark will be 38-story mixed-use high rise with approximately 225,000-square feet of Class A office space. It will include 268 mixed-income apartments and 245 hotel rooms.
The design of One Newpark includes a series of lush terraces and gardens. Its lower floors will feature retail stores, separate lobby entrances and parking. The overall site plan includes inviting streetscapes with wide landscaped sidewalks for pedestrians.
“The One Newpark development will set the tone for development on the southern side of Downtown Dallas,” Jason Lanoha with Lanoha Real Estate Company says. “The area has tremendous potential to transform into a vibrant mixed-use district that will redefine how Dallas grows for the next generation with major improvements happening all around the site including the convention center, I-30 and multi-model transit.”
Deserted parking lots will soon make way for a new multi-use district near Dallas City Hall. The future is building.