D
eveloper Mike Hoque has made a significant move in downtown Dallas, purchasing a neglected city-owned property at 711 South St. Paul Street near City Hall. The half-acre site had been marred by years of decay and code violations before the City of Dallas put it up for sale in August. Hoque's acquisition aligns with his broader plans for the Newpark district, a technology and education hub that has already received $96.1 million in city incentives.

    The city plans to demolish the 22,500-square-foot building on the site, which is valued at $1.5 million by the Dallas Central Appraisal District. Hoque envisions mixed-income workforce housing and ground-floor retail for the property. This project is part of his larger vision for Newpark, which includes a 38-story tower with office space, apartments, and hotel rooms.

    Hoque's plans also include redeveloping Bank of America Plaza, a $350 million adaptive reuse project that would convert a portion of Dallas' tallest tower into a 300-key hotel. Other downtown transactions highlight the area's growing development activity, including Investor Ray Washburne's recent acquisition of the Greyhound station on South Lamar Street.

    Hoque is known for his portfolio of restaurants in Dallas and has other projects in the works, including the University Hills project near the University of North Texas at Dallas.