Quadrant, FCP eye Third Office Project in Dallas Design District

FCP is pursuing its third office project in Dallas’ Design District.

The Maryland-based developer, along with investor and partner Quadrant Investment Properties, is seeking city approval to build 462,100 square feet of office space and more than 50,000 square feet of restaurant and retail at 1715 Market Center Boulevard, the Dallas Morning News reported.

Quadrant, which owns the 4-acre site near Oak Lawn Avenue, is one of the largest investors and most active players in the redevelopment of the Design District, northwest of downtown.

The venture would redevelop three one-story structures that have been on the property since the 1950s. The companies’ proposal is “consistent with and would complement the existing neighborhood character,” according to the zoning request. The inclusion of ground-floor retail space will serve nearby residential developments and add neighborhood destinations, it said.

Quadrant and FCP are developing two other office projects in the area: the five-story River Edge at 155 River Edge Drive, near Irving Boulevard, and the 10-story 1333 Oak Lawn.

Quadrant founder Chad Cook has referred to the old Trinity Industrial District, which sits near the Design District, as the next “It” neighborhood in Dallas.

Other developers are taking part in the area’s transformation. New Jersey-based Urby is building a 27-story, 364-unit apartment on Hi Line Drive, marking the firm’s second high-rise development in the Design District.

In February, HN Capital Partners bought a mostly vacant parcel at the western end of Hi Line Drive with plans for a major overhaul, although the firm is still working through development ideas.

—Quinn Donoghue