Mixed-Use Project to Break Ground Thursday on Near Southside

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Dodson Commercial Real Estate said it will break ground Thursday on The 701, a 68,000-square-foot mixed-use development on the Near Southside at the southwest corner of Hemphill Street and West Magnolia Avenue.

The project comprises urban office, restaurant and retail space connected by an outdoor pedestrian mall. It includes the existing historic two-story building that’s home to Shinjuku Station and Panther City Salon; a new 3,700-square-foot restaurant building fronting West Magnolia with 1,800-square-foot patio; new three-story office and office and retail building to be anchored by the Fort Worth-based VLK Architects; and new 200-car parking garage.

VLK is moving its headquarters to the project from West 7th and will occupy the 26,000-square-foot top floor. The building will include a ground-floor restaurant, retail spaces, and a second story with offices or medical tenants.

“Anticipated for completion in early 2022,” according to a Dodson release, the project “features a vibrant pedestrian plaza with shop spaces and patios, which will connect the three buildings to a new on-site 200-car parking garage.” Groundbreaking is scheduled 10:30 a.m. Thursday.

“Dodson Commercial Real Estate will maintain the landmark cornerstone building of 701 W. Magnolia and its tenants through the expansion and use its design and historical impact to influence the new development,” the release said. “Originally built in the 1920s, it will retain all the community’s favorite businesses, restaurants, and residential lofts.”

The project is the first by developers Ryan Dodson and Alex Bryant under the newly formed Dodson Commercial Real Estate partnership, whose offices are in Arlington. The full-service firm includes real estate development, property management, investment, and brokerage services.

“The 701 is the first of its kind Class A mixed-use project on the vibrant West Magnolia corridor,” Dodson, managing partner, said in the release. ”We realize the significance of this opportunity and have worked carefully with the Near Southside and the VLK team to thoughtfully integrate modern office, retail, restaurant, and structured parking with the charm and character of the historic buildings in the area. It’s a truly collaborative project that will bring over 100 high-paying jobs to the area while continuing to build on the walkability and character of the Near Southside.”

“The 701 is a catalyst project for Dodson and our expanding platform,” Bryant, who will handle leasing for the project, said in the release. “We are thrilled to partner with a firm of VLK’s caliber on such a landmark endeavor.”

Dodson and Bryant said “the success of this project is due in large part to the partnership with VLK Architects.”

The parking garage “adds critically important parking assets to the growing neighborhood and the pedestrian walkway will add connectivity to Magnolia’s busy corner,” according to the release. “The 701 will bring a fresh new way to work, dine, and shop.“

“We’re really excited about the project and what it delivers to our community on multiple fronts: sensitive preservation of those treasured historic buildings; new distinctive landmark buildings that complement their older neighbors; the central public plaza activated by local shops; and an extension of Magnolia’s energy around the corner to that key section of Hemphill,” Mike Brennan, president of Near Southside, said In the release.