At last, downtown Dallas tower to get $450 million redo

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.

The Real Estate Roundtable, a group including major real estate firms such as Brookfield Properties, Blackstone, Empire State Realty Trust, Starwood Capital, as well as multiple major banks and CRE professional organizations, recently sent a letter to President Joe Biden on the implications of remote work within the federal government.

Multifamily Housing | Jan 9, 2023

New York City advances plan to build 500,000 new housing units

After New York Mayor Eric Adams announced a “Moonshot” plan to build 500,000 new housing units over the next 10 years in early December, he moved quickly to jumpstart the process.

1930 Broadway in New York City, where Glenwood Management first installed CarbonQuest's system. Photo courtesy CarbonQuest

Sustainability | Jan 9, 2023

Innovative solutions emerge to address New York’s new greenhouse gas law

New York City’s Local Law 97, an ambitious climate plan that includes fines for owners of large buildings that don’t significantly reduce carbon emissions, has spawned innovations to address the law’s provisions.

Fire and Life Safety | Jan 9, 2023

Why lithium-ion batteries pose fire safety concerns for buildings

Lithium-ion batteries have become the dominant technology in phones, laptops, scooters, electric bikes, electric vehicles, and large-scale battery energy storage facilities. Here’s what you need to know about the fire safety concerns they pose for building owners and occupants.

Multifamily Housing | Dec 29, 2022

San Jose is largest U.S. city to abolish minimum parking for new housing

San Jose, Calif., recently became the largest U.S. city to strike down minimum parking requirements for new housing development. The city reversed zoning devised in the 1950s that reputedly gave it the worst sprawl of parking space in northern California.

Codes and Standards | Dec 29, 2022

New York City multifamily owners concerned over fires caused by e-bikes

In 2022, there have been nearly 200 fires and six deaths in New York City caused by lithium-ion batteries used in mobility devices such as electric bikes and scooters.