In a few years, Dallas will look a lot different.
Recently, many cornerstone entities have announced moves out of downtown Dallas or its broader urban core, while still others have announced investments into it.
Broadly, Dallas’ urban core includes downtown, Uptown and Victory Park, with each neighborhood facing its own challenges and seeing its own trends. Here are some of the major moves:
While Goldman Sachs currently has a significant presence at the Trammell Crow Center, it is building a $500 million campus at NorthEnd, which will become the New York bank’s second-largest office, accommodating more than 5,000 employees upon completion.
The Texas Stock Exchange signed a lease earlier this year for space at Uptown’s future tallest tower, which will become the site of its Texas Market Center headquarters. The upstart bourse has been operating from a temporary headquarters at Knox/Henderson’s Weir’s Plaza.
Canadian banking giant Scotiabank announced last year it would add a regional headquarters in Dallas with 133,000 square feet of space in Victory Park. It cut the ribbon on the new space earlier this year.
*unconfirmed or tentative plans
As of January, investment bank Morgan Stanley was close to signing a four-year, 120,000-square-foot lease at downtown Dallas’ Fountain Place skyscraper, but only as it evaluated becoming the lead tenant at a new Uptown tower at 2401 McKinney Ave. Other options for an expansion in D-FW remain in play, too, including in Collin County.
Dallas’ own seat of government at 1500 Marilla St. emerged as a leading contender for a new Mavericks arena, provided the city council okayed tearing down the work of iconic architect I.M. Pei. The government would have then looked for space elsewhere. However, with the Mavericks choosing Valley View over a spot downtown, it remains to be seen what will happen to City Hall. The will-they-won’t-they saga leaves behind a trail of ballooning repairs estimates and a contentious debate over whether the sprawling concrete structure is the best use of prime downtown real estate.