|Nov 01, 2021||
MSD Capital, Trammell Crow Company, and The Retail Connection Announce Plans for Mixed-Use Development in Dallas' Knox Street Neighborhood
Knox Street will Include an Auberge Resorts Collection Hotel and Residences, World-Class Restaurants and Retail, a Luxury Residential Building, a Boutique Office Building, and a New Park Space
DALLAS – October 29, 2021 – MSD Capital, L.P. (MSD), Trammell Crow Company (TCC), and The Retail Connection (TRC) are pleased to announce plans for an extraordinary mixed-use, luxury lifestyle development in Dallas’ Knox Street neighborhood. Located immediately adjacent to the Katy Trail and anchored by a substantial green space, the development will include an Auberge Resorts Collection hotel and residences, a dynamic and significant restaurant and retail offering, a luxury residential building, and a boutique office building. A division of Highland Park Village’s management company will continue to market the retail within the development and the partnership’s 12-acre holdings around Knox Street. Construction on the project will begin during the second half of 2022 and the project is expected to deliver in early 2025.
“We are thrilled to partner with Trammell Crow Company, The Retail Connection, and Highland Park Village’s management company to launch our new development along the Katy Trail on Knox Street,” said Coburn Packard, Partner and Head of Real Estate at MSD Capital. “Our collaboration with Auberge will bring a one-of-a-kind, luxury hotel and residential experience to one of Dallas’ most beloved live-work-play destinations.”
The joint venture has assembled an internationally renowned design team led by the New York office of Australia-based Woods Bagot and New York-based Kohn Pederson Fox (KPF). Dallas-based HKS is serving as the architect of record. Woods Bagot is leading the design of the hotel and residences, residential building, and retail, and KPF is designing the boutique office building. OJB Landscape Architecture, the award-winning landscape architecture firm behind Klyde Warren Park, is leading the design of the development’s green space. The centrally-located park integrates with the Katy Trail, while serving as a meeting place and respite for those enjoying the Trail and the Knox Street neighborhood.
“Trammell Crow Company and its residential subsidiary High Street Residential have a history of development in Knox, which has grown to be the premiere lifestyle destination in Dallas for both residents and visitors. We are pleased to partner with this world-class team to continue our contribution to the evolving Knox Street landscape,” said Joel Behrens, Principal with TCC and HSR in Dallas. “This new development will fulfill our team’s vision to preserve and enhance the authentic character of Knox Street, amplify and expand upon its connection to the Katy Trail, and strategically add new and exciting uses and experiences to solidify the neighborhood as one of the most recognizable shopping, dining, and residential districts in the country.”
Auberge Resorts Collection Debuts in Dallas
The hotel will be managed by Auberge Resorts Collection, renowned for their luxury hotels and resorts worldwide, including Auberge du Soleil, Stanly Ranch and Solage in Napa, Chileno Bay Resort & Residences and Esperanza in Los Cabos, Mauna Lani in Hawaii, Hotel Jerome in Aspen and Commodore Perry Estate in Austin. Also managed by Auberge, exquisitely designed residences will offer the ultimate in luxury living with a rich array of hotel services and amenities. Auberge Resorts Collection will bring its local-first philosophy and its renowned level of personal service to the hotel and residences, creating a laid-back yet sophisticated experience that brings out the best of Dallas and the unique Knox neighborhood.
“The historic Knox Street neighborhood continues to see a burst of growth and energy, complete with some of the city’s most popular restaurants and retail brands. There’s a series of terrific new tenants catering to the neighborhood’s liveliness, a rebranded marketing approach, and significant property improvements throughout the area,” said Craig Reid, President and Chief Executive Officer of Auberge Resorts Collection. “The hotel and residences at Knox will complement the destination with innovative health and wellness experiences, elevated and locally driven food and beverage offerings, and vibrant cultural experiences.”
World-Class Restaurants and Retail
Knox Street is located off US-75, 10 minutes from Downtown Dallas at the convergence of some of the highest-end neighborhoods in the city, including Highland Park. Knox Street is one of the most walkable neighborhoods in Dallas and is home to several luxury mixed-use developments, contemporary lifestyle concepts, and distinct dining, including Georgie by Curtis Stone, Le Bilboquet, RH Gallery and Rooftop Restaurant, The RealReal, Toulouse, Taverna, Vince, Yeti, and more.
Building off the success of the neighborhood, the mixed-use development will deliver approximately 90,000 square feet of ground-floor retail that will include a curated mix of retail and food and beverage offerings. Several of the tenants will have ample outdoor seating for patrons to enjoy adjacencies and views of the new park and the Katy Trail.
“Mixed-use developments are always special opportunities, and this is especially true for a project with the rich history, legacy, and potential of Knox,” added Steven Lieberman, CEO of The Retail Connection. “We embrace that heritage and are thrilled to have the opportunity to curate a vibrant walkable village that will lead to great shared experiences as we accelerate and elevate Knox’s natural evolution.”
Exceptional Boutique Office and Residential Offerings
The design inspiration for the luxury residential building, which is being developed by High Street Residential, the residential subsidiary of Trammell Crow Company, was informed by the history of the Katy Trail, which once served as the Missouri-Kansas-Texas Railroad. The luxury residential building will include approximately 150 units and is anticipated to include a mix of one-, two-, and three-bedroom floor plans. The six-story boutique office building will include approximately 125,000 square feet of Class A office space, complete with green outdoor terraces on select floors. The office building is perched atop the ground floor retail, providing an outdoor pedestrian connection under the building, connecting Knox Street to the park.
For more information on Knox Street, please visit https://www.knoxstreetdallas.com/
About MSD Capital, L.P.
MSD Capital was established in 1998 to exclusively manage the capital of Michael Dell and his family. MSD Partners, L.P., an SEC-registered investment adviser, was formed in 2009 by the partners of MSD Capital, L.P. Together, MSD Capital and MSD Partners manage over $22.0 billion of assets and are currently invested in nearly $8.0 billion of real estate.
MSD utilizes a multi-disciplinary investment strategy focused on maximizing long-term capital appreciation by making investments across the globe in the debt and equity of public and private companies, real estate, and other asset classes. In its real estate investments, MSD maintains a fundamental, value-oriented approach, seeking high-quality assets with significant barriers to entry and strong long-term growth characteristics. In addition to Knox Street in Dallas, MSD’s major real estate investments include the Four Seasons Resort Maui at Wailea and the Four Seasons Resort Hualalai in Hawaii, the Fairmont Miramar in Santa Monica, The Boca Raton and over 13,000 multifamily units nationwide. In Texas, MSD has invested in Block 185, the tallest and largest office building in Austin under construction adjacent to Lady Bird Lake, 1221 South Congress, a mixed-use retail and office development on South Congress Avenue in Austin, and Music Lane, a ground-up mixed-use project on South Congress in Austin, anchored by Soho House that includes office and retail.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,800 buildings valued at nearly $70 billion and over 625 million square feet. As of June 30, 2021, TCC had $15.2 billion of projects in process and $9.6 billion in its pipeline. It employs nearly 625 professionals in the United States and Europe. Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 25 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
High Street Residential, the residential subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. In the last 15 years, the firm has completed over $2.3 billion with a current pipeline of over 5,400 units. TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, and the world’s largest commercial real estate services and investment firm (in terms of 2020 revenue).
About The Retail Connection
The Retail Connection is a full-service retail real estate brokerage, advisory, investment and management firm formed and headquartered in Dallas in 2003, with offices in Austin, Houston and San Antonio. The Retail Connection currently represents over 350 clients and over 25 million square feet of shopping centers, including the over 5 million square foot portfolio of retail centers developed and owned by the company’s partners.
About Auberge Resorts Collection
Auberge Resorts Collection is the leading brand of one-of-a-kind luxury hotels, resorts, residences, and private clubs in some of the world’s most desirable destinations. While each property is unique, all share a crafted approach to luxury and bring the soul of the local community to life through captivating design, exceptional cuisine, innovative spas and gracious yet unobtrusive service. Whether it is in Napa, Austin or Santorini, Auberge Resorts Collection has mastered the art of capturing the character of the destination, connecting with local communities, and elevating what makes each location distinct by providing truly memorable experiences.
About HP Village Management LLC
Highland Park Village’s management company (HP Village Management LLC) and its affiliates are one of Dallas’ most established and reputable retail teams with vast experience in leading distinct development projects. Largely recognized for oversite and management of the company’s principal property, Highland Park Village, the respected retail group directs all aspects of tenant leasing, property operations and marketing for the internationally revered luxury fashion and lifestyle destination. Affiliates of HP Village Management LLC also own and advise on other local, regional and national retail developments, including The Shops at Clearfork in Fort Worth, Texas, the Scottsdale Design District in Scottsdale, Arizona, The Haven in West Haven, Connecticut and commercial properties in Aspen, Colorado.
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MSD: Todd Fogarty 212.521.4854 | email@example.com
TCC: Cynthia Langhorst 773.213.7112 | firstname.lastname@example.org
TRC: Jessica Pence 214.572.8435 | email@example.com
Auberge: Murphy O’Brien |firstname.lastname@example.org
HP Village: Hendrika Diehl 214.272.4875 | email@example.com