Developer will convert Dallas' storied LTV Building into mixed-use residential tower

Led by Dallas Mayor Mike Rawlings, New Orleans-based HRI Properties will officially mark the launch of the LTV Building’s $80 million conversion into downtown Dallas’s first mixed-use hotel and residential complex.

New Orleans-based HRI Properties, LLC (HRI) recently completed the purchase of one of the most storied buildings in downtown Dallas and will convert it to an innovative mixed-use complex that will include a 171-room Hilton Garden Inn Hotel and 186 luxury apartments.

While multi-use residential conversions are still relatively rare in the U.S. outside of New York City, this will be the sixth such development by HRI. The company has converted similar projects in New Orleans, Houston, Jackson, MS and Richmond, VA. Currently, HRI is also redeveloping the 225 Baronne Building in downtown New Orleans into a 188-room Aloft Hotel and 192 apartments.

“HRI Properties is a well respected developer out of New Orleans that has a successful track record in developing residential and hotel projects, and their plans for residential, hotel and retail will add greatly to the fun, vibrancy and quality of life creating a more urban environment Downtown,” said John Crawford, CEO of Downtown Dallas, Inc.

“The redevelopment of 1600 Pacific is giving our downtown revitalization efforts another real boost and serves as yet another example of the importance of public/private partnerships to achieve mutual goals and objectives,” Crawford added.

“Today represents another accomplishment in our commitment to revitalize downtown,” Mayor Rawlings said. “This project will help attract more urban residents of all ages, incomes and backgrounds to downtown and continue to establish it as a vibrant neighborhood.”

The building, constructed in 1964, was known for many years as the LTV Building, headquarters of the former Ling-Temco-Vought company. The building’s façade created the world’s largest electronic signboard at the time. Thirty windows on each of the upper 25 floors were individually controlled and could be configured to shapes, letters and messages.

“In the thirty years since our founding, we have established a unique expertise in revitalizing urban centers through adaptive redevelopment of historic buildings,” said Tom Leonhard, CEO of HRI. “Communities as varied as Richmond and Jackson have enthusiastically welcomed our capabilities in reviving their downtown centers, and we look forward to replicating that success in a major market like Dallas,” he said.

“The cooperation of local officials and partners is absolutely essential in a project of this nature,” said Leonhard. “This would not have come to a successful closing without the enthusiastic support from Mayor Rawlings, the City of Dallas Office of Economic Development, Downtown Dallas, Inc. and District 14 Councilmember Philip T. Kingston, who was instrumental in navigating the regulatory process for the conversion of this Dallas landmark into its new life as a multi-use complex,” Leonhard added.

The 32-story LTV Building is within walking distance to major downtown office buildings and the DART light rail. Residents will have exclusive access to 206 self-park parking spaces in the building on floors 2-4. The hotel will utilize 148 valet parking spaces in the basement of the LTV Building.

Construction is scheduled to be completed by third quarter 2015.

Architects for the project are HCI Architecture, Inc. and Merriman Associates/Architects, Inc. of Dallas. Interior design is by Looney & Associates. The general contractor is Andres Construction Services of Dallas.

Financing was provided through Capital One Bank and Fidelity Homestead Savings Bank, both in New Orleans.

HRI Lodging, HRI’s affiliated hotel management arm, will mange the Hilton Garden Inn Hotel, and HRI Management will manage the apartments.

The hotel amenities will include a first floor lobby with a restaurant/bar with outdoor seating. 2,000 square feet of meeting space will be constructed on the fifth floor, along with an outdoor pool deck and a fitness center for the hotel guests. Guest rooms will include all Hilton Garden Inn brand standard features including 42” flat panel TVs and in-room refrigerator.

The 186 apartment units will be located on floors 15 through 32 and feature condominium level finishes, washer and dryer appliances and stunning views of the Dallas skyline. Separate resident-only amenities include a fitness center, rooftop deck, and community space in addition to access to the public amenities of the hotel such as restaurant and bar space.

In its 2021 Life Sciences Real Estate Outlook, JLL predicted that access to talent would be a primary concern for an industry sector that had been growing by leaps and bounds. A year later, talent still guides real estate decisions. But market conditions of a different sort were cooling the biotech field: namely, investors that have soured on startups which underperformed after going public. What this means for new construction and renovation going forward is unpredictable, as the drivers behind life sciences’ surge are still palpable.

FWA Group will add to HCM's presence in K-12, higher education, and healthcare sectors.

Architects | Sep 12, 2022

FWA Group joins national architecture, interior design, and planning firm Hord Coplan Macht

Hord Coplan Macht acquires FWA Group.

| Sep 12, 2022

Staff at New York City architecture firm is first in U.S. to unionize

Staff at New York City architecture firm is first in U.S. to unionize.

| Sep 12, 2022

San Antonio’s new courthouse aims to provide safety and security while also welcoming the public

The San Antonio Federal Courthouse, which opened earlier this year, replaces a courthouse that had been constructed as a pavilion for the 1968 World’s Fair.

Currently Reading

Developer will convert Dallas' storied LTV Building into mixed-use residential tower

Tags

| Sep 15, 2022

| Sep 15, 2022

| Sep 14, 2022

| Sep 14, 2022

| Sep 13, 2022

| Sep 13, 2022

Laboratories | Sep 12, 2022

Architects | Sep 12, 2022

| Sep 12, 2022

| Sep 12, 2022

Most Popular Content

Magazine Subscription

Get our Newsletters

Follow BD+C: