In the last few years, Uptown Dallas real estate has seen a major boom. Between July 2020 and July 2021, the population of the Dallas metro area increased by nearly 100,000 residents. New residents are coming in from not just other Texas cities, but across the U.S., drawn by job growth and high-quality living.
Commercial real estate in Uptown Dallas is particularly desirable, as more major companies move into the area. Goldman Sachs and other major companies are making big moves into Dallas, and the future for the area is very bright. Outside of Uptown Dallas real estate in general, the Dallas Fort Worth area is now home to 24 Fortune 500 companies, third to New York and Chicago.
Uptown Dallas real estate has a lot of new builds and construction planned, too. There are truly too many new projects to name, but below are the biggest updates and changes coming. Some are commercial real estate in Uptown Dallas, but many new builds will also include residential homes in some form. These are the most exciting new additions coming to Uptown Dallas in the near future.
Major Renovations in Older Apartments
Photo courtesy of Whitney Uptown
While it’s not a new build, The Kor Group has made major renovations to what was formerly known as Uptown Tower. Now rebranded as Whitney Uptown, this is a great piece of Uptown Dallas real estate that is getting new life breathed in. All of the 196 units have been renovated, with stainless steel appliances, high-end countertops, and private balconies.
These apartments bring a lot of value for people who work in the surrounding commercial real estate in Uptown Dallas and want to be near their offices. This will help with the current housing squeeze many residents are experiencing and provide new, upscale homes to people whose offices are moving into the new commercial real estate in Uptown Dallas.
Goldman Sachs’ Office Building
Photo courtesy of Goldman Sachs
One of the biggest updates in commercial real estate in Uptown Dallas we’ve ever seen is the Goldman Sachs office tower, which is slated to be set in the heart of uptown. The company has been in talks with the city for over a year to get the project underway, and Goldman Sachs anticipates spending approximately half a billion dollars to get the tower built. This will make this the most expensive Uptown Dallas real estate project ever, surpassing the $400 million it took to build the Crescent Complex in the 1980s.
They plan on leasing 800,000 square feet of the new building, which is next to the Perot Museum of Science and Nature on North Field Street. If everything goes through, this is going to be the biggest and most expensive addition to commercial real estate in Uptown Dallas we’ve seen in recent years. It will also bring many new jobs to the area, which is already thriving. Goldman Sachs already employs about 4,000 people in Texas, but this new building will bring many more roles.
The planned highrise isn’t just going to house Goldman Sachs, though. Depending on permits, they are projected to create a building with upwards of 80 floors, with space for residential homes, hotel towers, and even retail space in the area.
This will also be the first true highrise to come into Uptown Dallas real estate since the late 1980s. Other new builds and complexes are happening, but not nearly at this scale.
Economists project that not only will this bring in Goldman Sachs employees, but we’ll see a new wave of companies and offices moving in, too. Commercial real estate in Uptown Dallas is already very prized, and the market will get even more intense as this project really begins.
Ideally, construction will begin by the end of the year, but there still appear to be several roadblocks to clear before they break ground and finalize plans.
Major Projects Incoming
Photo courtesy of Cedar Springs Road
More big things are on the horizon, as Dallas developer Lincoln Property Co. plans to start construction next year on a major new project that involves both residential and commercial real estate in Uptown Dallas.
The company has purchased approximately 4 acres of land at Cedar Springs Road and Fairmount Street. Next year, they will start the process of building an office building and two residential buildings.
Photo courtesy of The Fairmont Dallas
The office building will be the latest piece of commercial real estate in Uptown Dallas, with about 525,000 square feet of space. The two residential buildings will be 30 floors each and will face the Quadrangle shopping center. This will help, but the need for Uptown Dallas real estate is so great right now it probably won’t make a huge impact, especially with projected finish dates being so far out.
Are You Ready to Invest?
Are you interested in Uptown Dallas real estate for your next investment opportunity? There is no better place in Dallas to begin your search. Whether you’re considering a residential apartment or home for yourself or commercial real estate in Uptown Dallas, now is the time to get in on the action before even more major companies move in and search for space.
When you’re ready to see your options, reach out to Courtney Tauriac. Courtney is a specialist in the greater Dallas area and handles some of the best and most exclusive luxury and brand-new listings on the market. She has close ties to the community and a passion for architecture and real estate. It doesn’t matter if you’re looking for a brand-new building, something constructed recently, or a place with history and charm, Courtney can help you find it in the Dallas area, even with the ever-changing market and growing need. Call today and get the process started.
