Downtown development comes slowly for Dallas

New retail and residential developments are underway for the Main Street District, the Arts District and near the West End. Retail recruiting and incentive efforts have had mixed results. Several business owners say it's been a slow road. The city has largely focused on revitalizing the Main Street Retail District - bounded by Elm, Harwood, Commerce and Field streets - providing nearly $3 million in subsidies to ten downtown businesses in the past five years. Downtown has nearly 2.4 million sf of retail space available with 9.1 percent vacant, according to CoStar Realty Information Inc. Retail rents range from $18 to $25 per sf. The vacancy rate is higher - about 30 percent - for the Main Street Retail District. About 5,000 people live downtown, up from about 200 in 1996. By 2009, the DowntownDallas business association expects about 10,000 people - seen as the minimum needed to support a retail climate. Developers are working on retail and residential projects downtown. Forest City Enterprises plans nearly 900 apartments and 72,000 sf of retail space in five buildings downtown. When Irving-based JPI finishes building its second apartment complex, it will have 43,000 sf of retail space to go along with its residential units. Downtow

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