Dallas $2.5 Billion Project, Underway!
Call it a ‘boom’; call it a ‘boost’; call it ‘exciting’ – whatever label you wish to use, Dallas is anticipating a huge, new development to the tune of $2.5 billion. It will span 30 acres which translates into 5 million square feet. So, what is this referring to? Well, it’s a project called ‘The Central’. The Central is a stunningly-designed high-rise project that will revitalize, remake, reactivate, recapitalize, and recapture the east side of US 75 in remarkable ways! The exact location will be at Central Expressway and Haskell Avenue with easy access to downtown Dallas. Phase One will include offices, multi-family residential buildings, and hotels with groundbreaking expected to take place during the 3rd quarter of 2020.
The developer, Artemio De La Vega, has passionately considered the logistics and other details for more than 5 years. His first step included the purchase of 10.5 acres from the Xerox Corp in 2017, and other land acquisitions followed suit for De La Vega’s vision to come to fruition. He is closely partnering with high-profile architects which include Dallas-based GFF, BOKA Powell Architects – the office architect – as well as Perkins-Eastman – the master-plan architect, out of New York.
De La Vega comes from a prominent family with expansive business and real-estate holdings in other areas of Texas as well as Mexico. De La Vega Development is known for its real-estate projects in Arizona, South Carolina, Georgia, and Louisiana. De La Vega is confident the location and the timing of The Central are in sync, and he believes it will be a game-changer for this area of the Big D.
The 'Wow' Amenities
The Central is ear-tagged as a mixed-use project which will require a couple of years to become finalized and fully functional. The amenities for this grand, urban implementation will include:
- 17-story office building
- 20-unit apartment high-rise
- 430-unit apartment project by JPI
- 300-room full-service hotel
- 150-room limited-service hotel
- 110,000 sq ft entertainment, fitness, and shopping space, plus eateries
- An activated 3.5-acre park
De La Vega stated that this project emphasizes nature-oriented aesthetics, including generous amounts of green space among the brick-and-mortar establishments and high-rise structures. The centerpiece park will be surrounded by nature-inspired architecture and design. The Central will be recognized as one of the largest Dallas-area projects, and it will be the tallest, densest development, to date, in the area between North Central Expressway and Ross Avenue.
New-generation tower projects, such as this, are becoming, increasingly, popular due to sky-rocketing land prices. Also, DART is holding discussions concerning its possible expansion of underground capabilities, here. This would provide The Central with direct access to the light-rail train.
Needless to say, De La Vega remains incredibly excited about this new venture which focuses on
connectivity. He states, “Everything about this mixed-use development – walkable green spaces, a technologically-advanced infrastructure, public-art installations, and social spaces – embody our firm’s core mission to create dynamic, inclusive, interactive communities with distinct purposes.”