Another piece of Hoque Global’s downtown Newpark district has fallen into place, but questions still loom.
After years of assembling land and teasing renderings, Hoque closed on the final parcel for its proposed Newpark district in downtown Dallas, a long-planned, mixed-use hub pitched as a magnet for tech firms, education and major employers, the Dallas Business Journal reported.
The firm bought 711 South Saint Paul Street, formerly a homeless shelter, from the city of Dallas following its demolition late last year.
The half-acre property fills a critical gap in the developer’s broader 20-acre Newpark vision, which includes office space, retail, mixed-income housing and a hotel.
Hoque Global said the district is intended to function as a walkable connection between major nodes in the city’s core and is designed to support workforce development. The firm is seeking corporate anchors, such as large financial services firms, to help bring the project to life.
While the land acquisition marks progress for Newpark, it also brings fresh scrutiny to Hoque Global’s track record.
The firm has yet to deliver any of its marquee developments despite years of highly ambitious announcements.
Its 270-acre University Hills project in southern Dallas, touted as a transformative investment for an underdeveloped part of the city, is under pressure. Hoque has until May 12 to close on the land and until August to secure funding, per its agreement with the city.
The firm missed a vertical construction deadline on its $50 million Mansfield project last year and was dropped as the master developer for Fort Worth’s Evans and Rosedale Urban Village after the city cited delays.
Hoque has pushed back on some of the criticism, insisting the firm is playing the “long game” on transformative projects that require patient capital and city cooperation. But skepticism remains as each new announcement is met with reminders of stalled timelines.
The firm is also partnering with PegasusAblon’s Mike Ablon on a $350 million effort to redevelop Bank of America Plaza, Dallas’ tallest tower, with plans for a hotel conversion and retail offerings.
— Judah Duke
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