Hunt’s Grand Dallas Project Gets Green Light

Hunt Realty Investments has obtained zoning approval from the Dallas City Council for a 3.5 million-square-foot mixed-use project, as first reported by the Dallas Business Journal. The project, which will rise on an 11-acre parcel, will add a series of high-rises to the Dallas skyline.

As noted in documents presented to the City Council, Hunt’s project will take shape along Nowitzki Way, between N. Houston St. and N. Field St. Currently, home to a 540-unit multifamily community, the site will be redeveloped to encompass office space, hotels, retail and restaurant offerings, in addition to new multifamily residences. Hunt’s mixed-use project will also feature a 1.5-acre park as its centerpiece.

Hunt tapped architecture firm Kohn Pedersen Fox to design the project, which comes at a time when many U.S. developers remain reluctant to embark on such a gargantuan endeavor given the lingering uncertainties due to the pandemic.

Hunt, however, is anything but wary. “We feel the timing is right for this development because of Dallas’ continued growth,” Colin Fitzgibbons, president of Hunt Realty Investments, told Commercial Property Executive. “Dallas is one of the top corporate relocation destinations in the country, and population growth continues to skyrocket. This development is really a long-term bet on the continued growth of this dynamic market.”

Confidence across Big D

Hunt isn’t alone in its convictions about the strength and resilience of the Dallas market. According to Dodge Data & Analytics, of the top 20 metropolitan areas in the U.S., Dallas ranked second only to New York City in commercial and multifamily starts in the first half of 2021, with a total of $4.5 billion. The investment figure, like those of the other top 20 metros, marks a 12 percent increase over the same period in 2020. Additionally, commercial starts have increased 2 percent year-to-date, fueled by increasing development in office, warehouse and parking structure projects.

Notable developments that got underway in the Dallas area in the first half of 2021 include Harwood International’s Harwood No. 14, a 360,000-square-foot office tower that was 45 percent pre-leased when construction commenced. Additionally, Xebec Realty broke ground on the first phase of Logistix Hub South Dallas, which will ultimately feature, 4.5 million square feet of logistics space across four facilities.