After a decade of starts and stops, the 1.5 million-sf First National Bank Tower—which occupies the largest vacant block in the core of downtown Dallas—is to be redeveloped. Todd Interests is the new developer. Andres Construction Services is the GC. Merriman Anderson Architects is the design firm.
Work on the 52-story tower at 1401 Elm Street quietly began ramping back up in recent days, while the deal with Todd Interests was still being ironed out. That’s because the project must hit a completion target of year-end 2020 to qualify for millions in entitlements.
According to a May 8, 2019, report by Jeremiah Jensen in Commercial Real Estate, the redevelopment will focus on four uses: apartments, hotel, restaurants, and retail. A 200-room hotel, which will serve as a Texas flagship for Thompson Hotels, is scheduled to open in September 2020. The residential component will feature 318 luxury apartments, including some on the 48th floor—the highest in downtown Dallas.
The landmark tower has been vacant for a decade, according to a report by Steve Brown, RE Editor of the Dallas News. Todd Interests is the fifth owner to tackle redevelopment of the 1960s office tower, which is the largest empty building downtown.
Related Stories
Multifamily Housing | Dec 11, 2018
62-story luxury rental tower provides 40,000 sf of indoor and outdoor amenities in Manhattan
CetraRuddy designed the building.
Multifamily Housing | Dec 6, 2018
JCJ Architecture to design new housing facility for Barrier Free Living
The non-profit’s new facility will provide housing and support services for survivors of domestic violence with disabilities.
Sponsored | Multifamily Housing | Dec 5, 2018
Apartment community connects friends and neighbors through indoor-outdoor amenities
Hubbard Place is a 44-story, 450-unit apartment community in Chicago’s River North neighborhood, an established tech hub in the downtown area. The building has an entire floor dedicated to communal and entertainment amenities.
Reconstruction Awards | Nov 26, 2018
Yarn works: Neverending yarn
111-year-old mill becomes a mixed-income multifamily community.
Multifamily Housing | Nov 20, 2018
Designs unveiled for new residential tower in Honolulu
Studio Gang pays homage to sugarcane plants that were once prevalent in this area.
Multifamily Housing | Nov 14, 2018
BIG’s ‘wooden hillside’ residential building in Stockholm officially opens
The building spans 270,000 sf.
Market Data | Nov 14, 2018
A new Joint Center report finds aging Americans less prepared to afford housing
The study foresees a significant segment of seniors struggling to buy or rent on their own or with other people.
Multifamily Housing | Oct 26, 2018
Future proofing multifamily housing amenities for Generation Z
How does a multifamily property developer or operator make a smart investment in amenities that will give the project long-term value?
Multifamily Housing | Oct 23, 2018
A threesome of transit-oriented projects
Developers and their project teams are recognizing the value of walkability, convenient neighborhood services, and transit access, as these three TODs demonstrate.
Wood | Oct 19, 2018
Design revealed for mass-timber residential tower in Milwaukee
The developer is confident that the city will approve construction, which is scheduled to start next year.