‘Best Site in North Texas’ Slated for Mixed-Use Development
- Jan 09, 2015
Dallas–Downtown is getting a new mixed-use project. In a joint venture with MetLife Inc., Trammel Crow announced the 916,000-square-foot project to be called Park District. Ground is expected to be broken in 2015 for the Dallas-based HKS Architects-designed project, which will be located between Pearl Street, Olive Street and Klyde Warren Park.
“We believe this is the best site in North Texas for a project of this kind,” says Scott Krikorian, senior managing director with Trammell Crow Company’s Dallas-Fort Worth Business Unit. “We are excited about working with MetLife and the City of Dallas to develop this site at the doorstep of our city’s signature park.” Krikorian describes Park District as a one-of-a kind project that will further connect the Arts District, Downtown, and Uptown, providing tenants, residents and the public a unique way to experience Klyde Warren Park and the City. Trammell Crow Company has delivered over 4.7 million square feet of Class A office towers in the Central Business District.
A Class A office tower, residential tower, ground-floor retail, below-grade parking and plaza are planned for the three-acre parcel. The development team will seek LEED Gold and Silver certification for the office as well as residential buildings. CBRE Dallas has been appointed the leasing agent for the office and retail space.
Kurt Day, director and regional head of real estate in MetLife’s Dallas office, says, “This project began almost 10 years ago when we bought a small, well-located parcel of land in Uptown.”
Sitting on Pearl Street, Park District Tower will feature approximately 502,000 square feet of Class A office space, and 9,000 square feet of retail will be located on the ground floor of the 19-story tower. The tower will provide residents with efficient floor plates, multiple outdoor terraces, a fitness center and a full conference facility with meeting rooms.
“Uptown’s evolution and the effects of Klyde Warren Park over the last few years have been exciting, and we think Park District will raise the bar to the benefit of Uptown residents and workers,” says Day.
High Street Residential, Trammell Crow Company’s multifamily development subsidiary, will develop the 32-story Residences at Park District. The residential tower will feature approximately 255 residential units and 13,000 square feet of retail space. Residents will have access to an amenity deck with a pool, a fitness center and valet and concierge services.