Earlier this month, the Downtown Connection TIF Board approved the rehabilitation of 1401 Elm Street, formerly known as Elm Place and historically the First National Bank Tower, which closed in January 2010.
The approximate 1.3 million square feet will be transformed by Merriman Associates/Architects into primarily housing and office space, with ground floor retail, restaurants and an observation deck as features. Construction is expected to begin this fall, pending City Council approval on September 28, with completion in 2014.
“When we talk about the Quick Wins and Bold Ideas that will shape the future of Downtown, this is certainly a Bold idea that we are confident will become a reality.” said John F. Crawford, President & CEO of Downtown Dallas, Inc. “The project will add residents, employees and vibrancy at an unparalleled scale to our city center. We welcome developers 1401 Elm Street Holdings LLC to the Dallas community!”