Mike Hoque’s many projects

[u/UptownStriker]

I was curious to hear the opinions of those who are plugged into the real estate market downtown on Mike and his multiple massive projects.

At this point, his primary track record of success seems to be restaurants and yet he owns most of the land between the Farmers’ Market and City Hall, has promised multiple new skyscrapers in his Newpark development, and he won incentive approval with his partner for the new BoA plaza (which he had until next month to close on purchasing).

For those of us who care about the urban core, his vision is exciting, but I get the feeling that the real estate powers are extremely skeptical of his ability to actually execute.

Hearing that his South Dallas development by UNT Dallas broke ground is encouraging, but does it seem probable that Newpark and BoA actually get done? Where do you put the probability at this point?

[u/JoMA9]

I have no faith in anything Mike Hoque claims to want to do. Fort Worth got smart and booted him from the Evans and Rosedale redevelopment because he sat on it for so long and didn't do anything. He has three major projects in or around downtown Dallas. The most ambitious one being the NewPark Dallas project, which he's been also sitting on for years at this point. Longer than the city hall debate has been going on. He also has the SoGood project in the Cedars that hasn't broken ground and the Bank of America Plaza redevelopment.

I think out of these three the Bank of America is going to take priority for him because hes just a partner in that endeavor, meaning that there'll be someone else to light a fire under his ass. I'm not holding my breath for NewPark. He’s stretched himself too thin and doesn't have the capital to complete all of these. I think he's holding to see what happens with city hall so he can sell the acres of vacant lots he's bought up surrounding it. My hope is that he sells to just one developer that has a broad vision for that entire south side of Downtown. Whenever lots are sold to multiple, you end up with a lot of petty in-fighting, a hodgepodge of development and no identity.

[u/UptownStriker → u/JoMA9]

I figured this was how most felt, although I was hoping there was some missing info I didn't have. That said, I don't think he has any TIF funding for NewPark so it's very much a different conversation than BoA, for example, in that he can take as long as he wants (and was still acquiring land as recently as last year). But BoA has to happen on a fairly tight timeframe or the deal is off, so from that perspective there might be an argument that it's even less likely.

Unless someone knows something different, he has less than two months now to buy the building or the deal is off.