Crow Holdings Eyes Second Phase of Old Parkland East

Crow Holdings wants to add more office space in one of Dallas’ most rarefied office enclaves, betting on continued demand for high-end workspace in Uptown.

The developer is planning a second phase of Old Parkland East, with construction potentially kicking off as early as this fall, the Dallas Morning News reported. The project would add roughly 250,000 square feet across three buildings on a 2.5-acre site just east of the existing campus, with completion targeted for early 2029.

The move comes as the first phase nears full lease-up, according to Crow Holdings Development’s Cody Armbrister, who told the outlet that the campus is “just about out of space.” That’s a notable signal in a market where commodity office spaces continue to struggle, but top-tier, design-forward campuses are increasingly capturing tenant demand.

Plans for the new phase call for three low-rise office buildings, four levels of underground parking and a central “signature” structure anchoring the development. The site is bounded by Fairmount Street, Shelby Avenue, Reagan Street and Maple Avenue. The expansion builds on two decades of investment around the original 1913 Parkland Hospital building, which Crow Holdings restored as its headquarters.

The same team for the first phase is set to return, with Wales-based Craig Hamilton Architects and The Beck Group leading design and construction, respectively. Armbrister said the expansion will feel like a natural continuation of the existing campus — known for its Jeffersonian architecture and meticulous detailing — but will introduce a new thematic element, still under wraps.

Old Parkland has long catered to a specific slice of the office market: family offices, private equity firms and other capital-heavy tenants seeking privacy and prestige over scale. That positioning has helped it sidestep some of the broader office sector’s distress, even as vacancy remains elevated across Dallas-Fort Worth, according to the publication.

The campus has also tapped into Texas’ growing pull as a financial hub. The New York Stock Exchange’s Texas outpost is set to occupy space at Old Parkland East, appealing to institutional players and feeding into the broader “Y’all Street” narrative.

— Eric Weilbacher