We finally know what Michael Dell has planned for Knox Street.
Knox, one of Dallas’s most popular shopping and dining streets, is getting a new high-rise project that will bring even more activity to the area near Highland Park.
The street, which runs four blocks west of the Central Expressway, has been a busy shopping district since the area north of downtown first opened in the early 20th century.
In the past few decades, apartments, retail and, most recently, office space have been built in the neighborhood.
The new project, planned by Dallas developer Trammell Crow Co. – in partnership with Austin billionaire Dell’s family investment firm – will bring three new buildings to Knox along the Katy Trail.
The 4 acre project extends along Travis Street south of Knox and includes luxury residential units, a boutique hotel, retail, offices and a new park.
It has been more than three years since MSD Capital bought 12.5 acres in the Knox borough, including buildings on Cole and McKinney Avenues and Travis Street.
The company that manages the Dell family’s long-term investments is the largest real estate owner in the neighborhood.
MSD Capital LP from Dell, Crow and Dallas’ The Retail Connection are collaborating on this major project.
“Our partner MSD Capital acquired the property in spring 2018,” said Joel Behrens, Principal at Crow and its High Street Residential Division. “We took the time to get it right.
“We have the opportunity to build a great addition to the Knox district,” said Behrens. “It’s big enough in size and scope to do something really remarkable.”
Three buildings
The tallest of the three buildings on Travis Street would have 18 stories of luxury condominiums built on top of a small hotel.
A six-story office building with retail on the first floor would face Knox.
And a third residential tower at the southern end of the block would contain another 150 residential units.
All of the buildings would surround a small park overlooking the Katy Trail.
“What we are most pleased about about this project is the large open space in the center of the site,” says Behrens. “A lot of people come on the Katy Trail in the Knox neighborhood, but there is no official starting point.
“This will be a unique opportunity to have a meeting place.”
The deluxe hotel operator Auberge Resorts Collection will manage the planned 100-room hotel. Behrens said the hotel company specializes in resort destinations.
“They have 20 hotels around the world and recently tried to expand their urban portfolio,” he said. “It will be a real boutique experience – a different offer than the other hotels on our market.”
The tower of condominiums will comprise 45 to 50 apartments with an average of around 3,500 square meters.
“Probably the most frequently asked question is how many units are you going to build,” said Behrens. “The interest is great.
“They’re not expensive right now.”
Around 90,000 square meters of retail and restaurant space are planned in the Knox project.
“The entire first floor is retail, and we have a few restaurants on the second floor that overlook the park,” said Behrens.
Parking underground
The start of construction is planned for next year, the opening of the project is planned for the beginning of 2025.
“We build everything at once,” said Behrens. “One hundred percent of the parking spaces are underground.
“All loading and service are in the basement,” he said. “We don’t want the project to have a back door with a large loading ramp.”
The New York office of Woods Bagot from Australia, Kohn Pederson Fox from New York and HKS from Dallas are planning the development. OJB Landscape Architecture will also work on the project.
Highland Park Village management has taken care of the retail properties and will continue to do so.
“We are delighted to be working with Trammell Crow Company, The Retail Connection and the Highland Park Village Management Company to kick off our new development along the Katy Trail on Knox Street,” said Coburn Packard, Partner and Head of Real Estate at MSD Capital, in a statement. “Our collaboration with Auberge will bring a unique luxury hotel and living experience to one of Dallas’ most popular live work-play destinations.”
One of the largest retail real estate companies in the Dallas area, The Retail Connection played a key role in attracting MSD Capital to Knox Street.
“Mixed-use developments are always special opportunities, and this is especially true on a project with the rich history, legacy and potential of Knox,” said Steven Lieberman, CEO of The Retail Connection. “We embrace this legacy and are excited to have the opportunity to curate a vibrant walk-through village that will result in great shared experiences as we accelerate and enhance the natural evolution of Knox.”
The planned project will be the second new high-rise building overlooking Knox Street.
Developer Four Rivers Capital has just completed construction of a 12-story office and retail building across the street in Knox and Travis that will include a new Weir’s Furniture Store to replace the one demolished for the project.
Weir’s Plaza Tower has been under construction for about two years, west of US Highway 75 on the eastern edge of Highland Park.
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