Could Deep Ellum become the new hub for commercial design?
According to the Dallas News, One Chicago developer thinks so when he was lucky enough to snag an opportune building site in the exciting Dallas district.
The diversified company known as Sterling Bay is branching out to many new markets outside of the Chicago area including Miami, Portland, and now our own Dallas Deep Ellum district.
The current “Dallas Project” is a part of a national expansion; which the 30-year-old plus company has invested more than 8 billion dollars in the project’s development plan.
There are a few hints here and there on what the developer from the Sterling bay company will do with the 2.5- acre tract of building area. According to Ryan Walsh, Sterling Bay’s director of acquisitions:
“Sterling Bay has had a lot of success in Chicago in a neighborhood called Fulton Market — a former meat-packing district that has transformed into a hub for dining, residential, retail and offices.”
©2020 CoStar Group, Inc.1025 rendering LoopNet Fulton Market, Chicago Fulton Market
Not to mention in Portland’s Pioneer Square, when Sterling Bay converted a historic 16-story department store building into a flexible creative office and retail space.
They were the forerunners in that district, beginning with the Google building for the creation of the new Fulton Market neighborhood.
The pending gentrification of the multi-use, high-density neighborhood that is Deep Ellum reminded the Developers of the opportune pioneering areas like the Fulton Market. However, Sterling Bay isn’t the only company to seize the chance at development in the growing district.
Currently Uber has begun construction for their new regional headquarters around Pacific avenue. While all around Deep Ellum there are multiple new retail/office spaces and apartments being built as we speak.
According to Walsh: “It only makes sense people would like to office in the neighborhood they already like spending time in…Those are the neighborhoods we are looking at nationally.”
There’s also talk from Uber to move thousands of workers into Deep Ellum. This will create a big impact not just for the Neighborhood, but also help and fuel the desire for more office space in the near future.
According to property owners next to the development section on Malcolm X Boulevard and Indiana Street, they expect Sterling Bay to level the surrounding block. The soon to be gone low rise buildings date back to the 1950’s and 60’s for the newer vertical development.
One of the buildings in particular to be leveled is the vacant 70,000-sqft building on the construction zone; which was previously used by the animation firm Reel FX.
Copyright © 2020, D Magazine Partners, Inc. All Rights Reserved. Reel FX is housed in a red-brick building in Deep Ellum that once was home to Yahoo Broadcast.com. photography courtesy of Reel FX
Their past with customers like Google and McDonalds has gained Sterling Bay other big office tenants in its development projects, including Glassdoor, Dyson and Hillshire Brands to name a few.
It’s safe to say that Dallas residents have a lot in store in the future thanks to Sterling Bay taking interest in Deep Ellum. Locals and the developing company are in for a bright future now that our Deep Ellum district infrastructure is about to skyrocket with the new building construction projects.
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