The planned Newpark Dallas development on the southern side of downtown is one step closer to reality after Hoque Global locked down the final parcel of land needed for the project.
With the acquisition of the latest plot, Hoque now has control over an entire city block that will ultimately make up the technology and education-focused development. At full build-out, Newpark Dallas will house Class A office buildings, mixed-income housing, hospitality businesses, and urban retail. Newpark Dallas will sit next to City Hall and the eventual $3.7 billion Convention Center.
“The next major mixed-use development redefining the Dallas urban core. Land currently sitting idle as parking lots will be transformed into a major technology and education hub setting the tone for the future growth of our city,” reads a description on the development’s website.
The ambitious project in southern Downtown Dallas has been in progress for years. The latest 17,000-square-foot property was the last of more than 60 parcels Hoque had to secure in deals with more than 100 property owners.
The Dallas-based investment group has also been patiently waiting for the outcome of numerous civic and educational projects planned in the area. Dallas ISD, for example, plans to build a flagship school one block from Newpark Dallas. Hoque, alongside partner KDC, has offered up an adjacent Newpark lot to relocate Dallas College’s current El Centro Campus.
“We continue with excitement to see this latest piece of the puzzle come together in the new vision for what has been a troubled block in downtown,” said Jennifer Scripps, president and CEO of Downtown Dallas Inc., per Fort Worth Inc.
City Councilmember Jesse Moreno mirrored the sentiment, saying, “We look forward to seeing the catalytic developments at Newpark take shape.”
The new development is expected to attract major corporate tenants, especially those in financial services. As previously reported in The Dallas Express, the city continues to grow its reputation as a financial hub, with stock exchange operator Nasdaq announcing plans to open a new regional headquarters in the Big D.