Dallas Midtown Project cost rises by half a billion dollars

Jan True, one of the executives behind the project, told members of Commercial Real Estate Women at the group’s monthly luncheon last week that the Dallas Midtown project is estimated to cost up to $3.5 billion, according to a recent Dallas Business Journal article. The cost is up by half a billion dollars from the original $3 billion that Valley View owner Scott Beck announced earlier this year.

“We want to stop that flight for corporate campuses to stop moving north and keep them in Dallas,” Dallas Business Journal says that True told the audience of more than 100 people in the Park Cities Club.

Scott Beck, is expected to break ground on his 100 plus acres during the first quarter of next year, and the project is estimated to take ten years to complete.

Plans include:

Hike and bike trails connecting to White Rock Lake
Parks and “open space”
A modern trolley system
Gondolas connecting Dallas Midtown to the Galleria
Interactive water features throughout the development, including a wave pool and fountains
Two luxury hotels
Iconic office towers
Luxury condo units
Upscale multi-family rentals
A 16-screen AMC movie theater
Boutique shopping
Seven-story glass enclosed European style market