Bank of America Plaza to reportedly change hands, plans $350M overhaul
Dallas Business Journal
The North Texas region's source for local business news & events. Part of the American City Business Journals network.
The tallest tower in Dallas and four surrounding city blocks could soon be sold to investors planning a $350 redevelopment, according to D Magazine .
Dallas developers and investors Mike Hoque of Hoque Global and Mike Ablon of PegasusAblon plan to purchase the 72-floor 美国银行 Plaza from Chicago-based METROPOLIS Investment Holdings Inc. , which paid about $300 million for the marquee tower in 1998, according to D.
The 1.85 million-square-foot tower known for its green outline is under contract.
Hoque and Ablon told D CEO they plan a $350 million redevelopment that would add a 300-room luxury hotel to the tower and improve the streetscape of the four blocks of land that come with the purchase. | Read more about the news. ??
Plus, here’s what DFW business leaders think about the Fed cut; DFW Airport bathrooms are getting an upgrade as part of a $9 billion capital improvement plan; a century-old Dallas home transformed into a new bar; and winners for a new DBJ award were revealed.
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Frisco City Council OKs incentives for Toyota Stadium upgrades
An ambitious plan by the owners of FC Dallas to renovate Toyota Stadium and make it the centerpiece of a massive mixed-use sports and entertainment district will move forward after receiving approval from Frisco City Council.
The deal, consisting of two agreements passed unanimously by council on Sept. 17, will provide Hunt Sports Group with $182 million in financing from sales tax revenue bonds issued by the city for improvements to the 19-year-old stadium. Hunt, which owns FC Dallas of Major League Soccer , will also be eligible for more than $25 million in economic incentives, in return for developing more than 1 million square feet of office space, a 200-room hotel and a 200-unit high-rise apartment building around the stadium.
"This is a gigantic moment for us," FC Dallas President Dan Hunt said. | Read more about the plan. ?
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Multibillion-dollar Firefly Park finally taking shape in Frisco
After nearly a decade of planning, the long-awaited Firefly Park development in Frisco is making new strides.
Infrastructure construction began a few months ago on the 217-acre mixed-use project, spearheaded by Wilks Development . And on Sept. 10 it received approvals for three sets of site plans for significant vertical construction from the Frisco Planning & Zoning Commission. Frisco City Council will also need to weigh in.
Firefly Park is expected to bring billions of dollars of development — a blend of residential, commercial and recreational space — to the northwest corner of PGA Parkway and the Dallas North Tollway. It promises to be another major project for fast-growing Frisco and add to the dense commercial development proliferating in this city north of Dallas. | Read more.
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Sally Beauty Supply to sell corporate HQ in Denton and possibly relocate
Denton-based Sally Beauty is seeking to sell its 23-acre corporate headquarters building to Denton County and could relocate as it weathers a bumpy financial ride.
Denton County commissioners unanimously voted Sept. 13 to purchase the Sally Beauty Supply Company Corporate Support Center at 3001 Colorado Blvd. from Sally Beauty Supply LLC for $45 million. The county will lease back the building to Sally Beauty for a year with the option to extend the lease for three months, with monthly rent of $35,000, according to the Denton County Commissioners Court agenda description.
Denton County Judge Andy Eads said the real estate purchase is a response to the area's rapid growth and need to support its population. Currently the county employs 1,987, according to its website.
Eads said Sally Beauty is looking at relocation both in and outside of Denton County for a new headquarters. | Read more.
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'Golden corridor' north of Dallas attracts another big community
A Plano-based homebuilding and land development company recently purchased more than 550 acres in Pilot Point with plans to build a neighborhood of more than 2,000 homes.
Green Brick Partners, Inc. , which has built neighborhoods in Texas, Georgia and Florida, bought 557 acres in northern Denton County, just northwest of fast-growing Celina. It aims to bring more than 2,200 homes to the site along FM 1385.
The Plano firm bought the land from a partnership led by Vijay Borra and DFW Land. In recent months, Borra has been purchasing swaths of land along the Dallas North Tollway in the northern reaches of Collin County, including in Prosper. | Read more.
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Oil Gas,@Health care @Global. Banks.
2 个月As TEXAS CORP TX USA is my oil Companies of Texas CORP TX USA and Canada but its not for sale in any means so please get your facts right before trying to get steal away Billions of dollars with my life and my oil Companies
Oil Gas,@Health care @Global. Banks.
2 个月It's the first time that I ever heard of this with the BOA BANK Of America as it's owned by the oil Companies and my life and the TEXAS CORP TX and nothing to do with those people so who are they for putting this on here as to me it's sounds fake even though Iam closing down but Iam not selling anything and not to these people and it's like the take news about Exonn mobile which is nothing to do with Shell oil as Shell oil Companies are not involved with TEXAS CORP TX USA as Tony and Shell oil company across the Globe are not involved with TEXAS CORP TX USA so please get your facts right before putting this on here