The Dallas Skyline might be home to two more additional towers after the council approved the proposal of Hoque Developer for subsidies and incentives according to an NBC 5 DFW article from June 20. They say,
“Developer Hoque Global seeks approval Wednesday for $96.1 million in subsidies over future years for the $379.3 million New Park development.
That is more than five times greater than the $18 million in public-private partnership grants and future tax abatement sought for financial services company Goldman Sachs, the lead tenant in the Field Street project by developer Hunt Realty. Goldman Sachs will use a separate portion of that project which will also include the 80-story high rise.
“Dallas is booming right now, especially downtown. If we don’t build up downtown, especially our core, you’re not going to grow the city of Dallas. You’ve got to build downtown, the core,” said Tennell Atkins, chairman of the Dallas City Council Economic Development Committee.”
The two towers will be 80 stories and 38 stories respectively but they will be situated separately in Dallas according to a Fox 4 News article from June 22 which reports,
“An 80-story building on North Field Street would become the city’s tallest building, taller than the Bank of America Plaza. The other project would occupy normally vacant surface parking lots south of Dallas City Hall.
The second skyscraper will be on the south side of downtown behind Dallas City Hall.
It’s expected be a 38-story building that will be the first part of another mixed-use development known as Newpark Dallas. It will also have office, retail and residential space, as well as a hotel.
“For years, we’ve had surface parking lots that have not added substantial value in landscape or taxes. This project includes a strategic plan with vision that will transform the area into a walkable mixed-use neighborhood, bridging the Convention Center, Dallas Farmers Market, and the Cedars. This will re-energize the southern portion of Downtown Dallas,” said Councilman Jesse Moreno, who represents the area.”
The council and the developers are looking at 2027 as the year where the project will first showcase its finishing milestone. However, 2027 will only cater to the first part of the project and the second part will follow suit in the next few years.