JLL’s capital markets team has been selected to market for sale the T. Boone Pickens YMCA, a .096-acre development site located at 1516 Ross Avenue in the heart of Downtown Dallas.
“After extensive research, thought and consideration, the YMCA board of directors approved a recommendation to market a potential sale of the Downtown Y property,” said Curt Hazelbaker, president/chief executive officer, YMCA of Metropolitan Dallas. “Sales efforts were temporarily postponed due to the pandemic and JLL has relaunched the marketing process for the site. However, the sale of the building will be contingent upon finding the right solution for the Y, our members and community.”
According to JLL research, downtown Dallas, particularly the area near Klyde Warren Park, has become an attractive and active development area. Since 2012, more than two million square feet of office development has come online, bringing 10,000 new daytime workers into the urban core, along with close to 1,000 new apartment units, as well as related amenities to enhance the area’s overall live, work and play atmosphere.
The JLL capital markets team leading the sales efforts consists of senior managing director Michael Swaldi and director Jonathan Carrier.
According to JLL, the downtown YMCA site has the potential to be a truly transformational project for the city. Its centralized location, accessibility and visibility create a unique, once-in-a-generation opportunity to leave a lasting legacy on downtown Dallas.