D
allas developer Mike Hoque plans to transform a city-owned property into an education and technology hub downtown. The property, located at 711 S. Saint Paul St., has been plagued by vandalism and squatting issues. Hoque's real estate firm, Hoque Global, is purchasing the land from the city for $1 million, with the existing building set to be demolished.

    The demolition process is underway, and city officials expect completion by the end of 2024. Hoque plans to build apartments on the site, along with the rest of the block his firm already owns. The project will include 350 mixed-income units, with 240 completed in the first phase. Groundbreaking for the multifamily project is slated for the third quarter of 2025.

    The apartments are part of a larger plan to transform downtown into the Newpark District, which includes up to $96.1 million in economic support from the city. The district will feature a mixed-use tower with office space, retail, a hotel, and luxury apartments. Hoque hopes to attract Dallas ISD and Dallas College to the area, creating an education and technology hub.

    Hoque has been working on downtown properties for years, including plans to purchase the 72-story Bank of America Plaza from Metropolis Investment Holdings. He aims to spend $350 million to revitalize the block, which will include a new hotel and other developments.