Dallas
Key developers back hotel tax to boost Convention Center, Fair Park
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One of North Texas’ biggest rental communities for sale
The Cirque has been held by a New York-based investor since 2016
A luxury high-rise in downtown Dallas has hit the market.
The Cirque, a 28-story apartment building in Victory Park, is being marketed by commercial property firm Jones Lang LaSalle, the Dallas Morning News reports. The 252-unit building was constructed in 2008 and has been owned by the same New York-based real estate investor since 2016.
According to JLL’s listing, the owner’s recent “capital investments include the renovation of the lobby, outdoor lounge and pool area, and elevated interiors.”
One of the largest such rental communities on the market in North Texas, The Cirque is valued for property tax purposes at $85 million.
It’s adjacent to Hunt Realty’s North End redevelopment, which, in its original plans, was set to house a shiny new $500 million Goldman Sachs tower. While the Dallas City Council offered the financial giant and developer Hunt Realty $18 million in tax and other incentives for the project, updated plans for Goldman’s new Dallas headquarters have been scaled back significantly.
Through the first nine months of this year, investors have picked up more than $18 billion in apartment properties within the Dallas-Fort Worth metroplex — more than every metro in the nation, according to a new report by MSCI.
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Key developers back hotel tax to boost Convention Center, Fair Park
Texas
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— Maddy Sperling