The ongoing housing initiative led by Downtown Dallas is reversing the trend of urban flight. Its goal is to motivate people who work in or visit downtown on occasion, to rediscover downtown – from Victory Park to the Main Street district – as a true destination. Or, even more so, see it as a desirable place to live.
Downtown properties have been leasing faster than construction can be completed, and waiting lists have become the norm. Spacious lofts, condos and other renovated properties give downtown residents a living experience unique to anywhere else in Dallas. In addition, the downtown office market has seen a great deal of positive movement of Comerica moving its headquarters here from out of state. With these major developments and more, the downtown job market is on the rise. Particular attention has been given to quality resources and design, plus linkages to the downtown core and to the entertainment district, as well as minimal use of land and creation of sustainable residential life.
Mass transit, including the 20-mile light rail system through downtown, enhances convenience for downtown residents, eventually linking them regionally, nationally and internationally to DFW International Airport and to Love Field.
Downtown Dallas has experienced a significant residential boom in recent years. Since the 1990s more than 10,000 apartments and condominiums have been constructed in the heart of downtown. Based on continued demand and a strong local economy, construction of an additional 2,000 units is underway or has been announced. Residents of downtown Dallas enjoy proximity to world-class arts and entertainment venues, frequent sporting events, fine dining, and shopping.
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