Downtown Dallas is changing from the type of central business district that rolls up its streets at 6:00pm to a vibrant area with office, residences and hotels. Yes, there are still some older buildings awaiting their remodeling or potential demolition but these properties are becoming the exception and not the rule.
Some of the significant announcements for downtown Dallas include:
- One Main Place Transition
- Dart Office Building (Old Sanger Harris)
- First National Bank Tower
- Bryan Tower
- Adolphus Tower
One Main Place has recently been purchased by Starwood Hotels and Resorts and KFK Group. They have ambitious plans to improve the thirty three store mid sixties office tower. One Main Place was approximately fifty percent occupied when it was purchase. The new ownership is planning on retaining 600,000 square feet of office space but they are going to convert the top ten floors to a 300+ room Weston Hotel. The project will also have 50,000 square feet of new retail space.
Dart is currently occupying a large 300,000 square foot facility in the heart of downtown Dallas. It is a three story building that was build in the mid sixties for Sanger Harris. The exterior of the building hasn’t been updated and it look much the same as it did when it was originally build.
There are rumors that Dart is in preliminary discussions with Olympic to relocate the the Hartford Building. This is a 175,000 square foot office building that could house DART’s office operations.. Discussions are centered around the redevelopment of the old Sanger Harris building to be a mixed use project consisting of retail, office and apartments. Bringing activity do downtown Dallas at all hours of the day and night.
The First National Bank Tower is a fifty two story high rise building that has recently been purchased by Olympic Property Partners of New York. If only the walls could talk. This building is an iconic downtown Dallas high-rise tower. It was the home of the Dallas Chamber of Commerce for years and where H. L. Hunt operated Hunt Oil. The top of the building was the home of the Dallas Petroleum Club for decades. Time has taken its toll on this landmark building and it is about to be transformed like much of downtown Dallas.
First National Bank Tower will be part of the redevelopment of the old Sanger Harris building. It will be a major undertaking to transform the tower from a 1960’s building to a modern office complex. However the developer is working with the City of Dallas to get a fifty million dollar TIF agreement with the city. The developer will find the remaining costs estimated to be another one hundred million Dollars.
Bryan Tower is a Dallas landmark build by the great Dallas developer Trammell Crow. It is a thirty four story office tower that is going to be converted. The ownership is planning to convert the top floors to residential use and the lower floors will remain as office space.
The Adolphus Tower is going to have a new exterior and remodeled lobby. The building was build in 1954 and it is a 181,000 square foot building consisting of twenty seven floors. The building will be remodeled with the first floor being retail.
Downtown Dallas Is Evolving
It is apparent that the downtown Dallas market is evolving. There are former floors of office buildings that once were empty being converted into residential and hotel uses. The remaining office space that once had functional obsolecence is being updated to modern standards. Overall this is a very exciting time for the Dallas Central Business District and I look for more dramatic announcements to be coming in the future. It is a good time to be in Dallas.