Two major players in Dallas real estate development aim to breathe life into the city’s downtown with a residential and hotel tower.
A joint venture of Headington Companies and Pacific Elm Properties is planning a 30-story building with 150 hotel rooms and 100 apartments on Field Street, across from the landmark Fountain Place, the Dallas Morning News reported.
The development, called Ross + Field, was designed by Abeyta Tibbs Architecture. It is set to include 30 affordable workforce housing units.
The tower is part of the developers’ broader revitalization efforts in the area. Headington owns multiple properties nearby, and Pacific Elm is involved in various office-to-residential conversions in the city’s core.
The proposed tower aligns with ongoing plans for the Field Street District, a sizable mixed-use project at the southwest corner of Field and Woodall Rodgers Freeway. However, before construction can commence, challenges such as relocating a fire station and realigning a freeway off-ramp have to be addressed.
The area is dominated by surface parking lots, and a development of this magnitude could be a “missing link” to connect downtown to the Victory Park area, landscape architect Cameron Bayles said.
Pacific Elm Properties’ extensive portfolio in Dallas includes seven class A office towers and an abundance of land in Uptown and downtown. The firm is also a partner in the Parkside Uptown tower, which will accommodate Bank of America’s Dallas offices.
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Headington, led by oil magnate Tim Headington, has been instrumental in revitalizing downtown Dallas, investing millions in transforming the city center.
Over the past few years, downtown Dallas has lost office tenants as companies relocate to the trendy Uptown area. This trend has prompted local officials and developers to explore ways to revive downtown, with projects such as office-to-resi conversion, updated office space and affordable housing.
—Quinn Donoghue