Wall Street Lofts in downtown Midland.
Two Dallas based real estate investors and developers scored a win at the 2016 Texas Downtown Association (TDA) Presidents Awards Gala. The gala was held in conjunction with the 2016 Texas Downtown Conference. Since 1988, the Awards Program has recognized over 150 projects, events, and people that make a difference in Texas downtowns.
The Wall Street Lofts project was named winner of the Best New Construction in the over 50,000 residents category. Dallas developers Roger Gault of Gault Company and Robert Gunby with RTG Capital LLC formed a partnership to develop the $19 million residential complex and garage which opened in downtown Midland, Texas in 2014.
The Best New Construction award recognizes outstanding new construction in a downtown or commercial district. Judges felt that The Wall Street Lofts made a huge impact on downtown by adding well-designed residential units on a former empty lot.
Midland Mayor Jerry Morales presented the award to Gault and Gunby at the City Council meeting on January 11. Judging for the awards took place in September 2016, in Austin and the awards were presented in November.
The 108-unit, four story project was built on a vacant tract on Wall Street across from Midland Center. It was the first development of downtown residential rental units in the city. The Wall Street Lofts include 5,000 square feet of retail space on the ground floor. In addition to the retail component, the Lofts feature amenities for the residents such as a fitness center, a pool and social areas, high-speed internet, and secured and covered parking.
“We are proud of the positive impact that the Wall Street Lofts has had on downtown Midland,” Gault said. “The residents love living downtown so it has been gratifying for us to see the project have the result that we envisioned.”
The project was public/private partnership, with the City of Midland assisting in the construction of an adjacent parking garage that provides a combination of public parking and private parking for the residents of the residential units.