Dallas developer Shawn Todd is proposing a $100 million parking-garage-and-park combo for a downtown parking lot that Dallas has been trying to get underway for years now. And while stories about parking garages aren’t exactly a dime a dozen, Todd’s plans are making a particularly idiosyncratic splash. Besides a massive media screen, a Trader Joe’s grocery store, and adding a plethora of parking spots to downtown Dallas, the garage and park won’t cost the city a penny. Todd plans to pay for it all by himself.
Pacific Plaza is a 3-acre lot in downtown Dallas that the city has been pouring money into for years now. But the city can’t foot the $10 million dollar bill required to get the park underway. The lack of funds has left the stretch of asphalt and broken concrete as, well, a stretch of broken asphalt and concrete.
Todd wishes to build an eight-level parking structure that would arch over Pacific Plaza with a deck park atop the garage. Nearby Aston Park—which Todd hopes to buy out from the city—provides the footprint for more park space. Digital ticker tape similar to the one in Times Square gives the parking garage a revolutionary nod to modernity. Razing nearby Corrigan Tower and including residential opportunities is a part of Todd’s bold bag of tricks.
Although the city would not have to pay for the rebuilding or maintenance of Aston Park, they are weary of selling the land to a private investor. However, nearby Klyde Warren Park employed a similar business model and was unquestionably successful, so negotiations are a definite possibility.
Todd’s ambitious blueprints require some major red tape to cross before groundbreaking. Success, however, would be a big foot up in Dallas’ attempts to amp up their downtown area with commercial and economic viability.
Post new comment