$42-million Bishop Arts project to break ground this month

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The Nazerian family company expects to break ground on streets and underground utilities for its Bishop Arts project project this month.

The project’s first two buildings, on the south corners of Bishop and Melba, could start going up by the end of the year. The buildings, depicted in the drawings above and below, will comprise about 30,000 square feet, with retail on the ground floor and office space above. They could be open about a year from now.

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The $42-million overall project will come in many phases over the next few years, says Thea Van Loggerenberg of Exxir Capital.

The developer is planning more than 400 apartments and about 95,000 square feet of retail space on 4.5 acres roughly bounded by Madison, Melba, Bishop and Ninth. Along Melba and Bishop, the buildings will be no more than two stories. Then they “flex step” out to three, four and five stories toward Madison and Ninth, Van Loggerengberg says. They expect the first apartment building to be under construction early next year.

 

nazerian

The Nazerians spent about seven years assembling properties, which included a 1970s apartment complex and many mid-1900s homes, for this project. They received $2 million in economic development funds from the City of Dallas to buy them up, and demolition began earlier this summer.

Michael Nazerian says the family wants this to be a “generational” project. They have no intention of building it to flip.

The Nazerians are in it for the long haul, says Van Loggerenberg.

“Whatever the future of Oak Cliff holds, our family will be a part of it,” she says. “It is a commitment that allows us to approach things entirely differently than 99 percent of Dallas developers, who follow a … model with a goal to exit an asset in less than three years.”

The company hired Oak Cliff-based metal artist Manuel Sarmiento — he’s on their full-time staff — to design and create details such as trash cans, signage, benches and other touches for the project. He is creating a sculpture of a tree out of rebar, which will take up one entire exterior wall of one of the first buildings, so that vines can grow up it for a “living wall.” Nazerian also is working to collaborate with muralists and other public artists to fill out the project with local art.

“We want this to feel like part of Bishop Arts, like it’s always been here,” Nazerian says.

Check out drawings and plans for the first phase of the project below.

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Bishop Arts Updated Design Package – Advocate

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  • Elaine Pehkonen

    June 28, 2016 – just drove by the project again. One set of tire tracks in the driveway. Weeds are tall. No excavation has been started for the underground parking. Looks very dead to me.

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  • Rob Shearer

    The Nazerians have much deeper pockets and a much longer track record of success. But based simply on the renderings I’ve seen and the leasing agent Rick has selected, I would LOVE for his project to go back to the drawing board.

  • lakewoodhobo

    Do the Nazerians have any signed leases? None that have been announced, at least. And Rick Garza has $4M in TIF commitment from the city, which should be enough to convince some investors. Maybe his project needs to go back to the drawing board.

  • davis

    Funny, the driving force behind the zone change still has nothing to show for it while everyone else can swoop in and reap the benefits.

  • Rob Shearer

    I’ve heard Rick Garza is still working on financing. Banks want signed leases, tenants want a solid construction plan… chicken/ egg situation.

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  • helainee

    West End, Deep Ellum …what happens when the newness” wears off?

  • Andrew Hudson

    I have another answer, it’s called “business as usual”! Those in the know get the dough!
    An artist in neighboring district 6 (Trinity Groves) just got screwed out of his building by the realignment of Herbert Street. Instead of looking to developer owned vacant land across the street, artist David Jensen is being forced to sell his property! The Aug 12 council meeting, made it abundantly clear that we artists don’t count. Art is once again being sacrificed on the altar of profit! Apparently, artists don’t matter.

    BTW, our councilman, Scott Griggs was one of only two dissenting votes. Thank you councilman!

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  • Rachel Stone

    Good question. I will try to find out. Thanks!

  • lakewoodhobo

    What is the status of Davis Street Market? I’ve been seeing promoted posts on Facebook soliciting leases, which is odd. Meanwhile, zero movement on the lot.

  • LUIS COLLIE

    OK no one seems to have an answer to the question ” how the hell does the “good looking ” mr Nazerian receive 4 mill ? 5 mill dollar to buy up land on bishop and then sit on the land for 2 or 3 years continuing to rent said property and receive income?” if anyone has an answer other than ” TAX FRAUD/THEFT ” id like to hear it. ANYONE?

  • katie

    Thank you Ramon for writing the REAL story of what is happening.

  • Ramon Mejia

    Nice Plans. Its extremely unfortunate that the families that resided in the 9 residental homes and the 5 building apartment complex (15 units), as well as the working-class families that surround this development will NEVER be able to afford it.

    Where will the existing community go after being displaced? And what happened to the low-income renters who were evicted from the buildings being torn down to make way for Michael Nazerian’s new development?

    No one seems to have asked, but the City of Dallas and Councilman Griggs have made their concerns clear: the City granted Nazerian $2 million to help purchase those properties then promised him $5 million more in tax reimbursements to support his Bishop Arts Village project. It will be surprising if he doesn’t receive the next $2 million economic development grant he’s requesting as well.

    The City of Dallas is spending millions of dollars on the destruction of low-income housing even as its ownPoverty Task Force reports a crisis of growing poverty throughout the city.

    Yeah change is good, BUT NOT at the expense of the community.

    Gente Si, Gentry No

    https://solstreetsorganizingforliberation.wordpress.com/2015/07/16/oak-cliff-drowned-out-by-bishop-arts/

  • happy

    “We want this to feel like part of Bishop Arts, like it’s always been here” Oh you definitely will with CVS, Starbucks, Buffalo Wild Wings and Chili’s Too.

  • Mike Dunlap

    Very cool.

  • lakewoodhobo

    Your move, GFF and Alamo Manhattan.