Trammell Crow Company announced plans today for two separate towers on the land occupied by a Chase motor bank next to Klyde Warren Park. The development, a joint venture with MetLife, will form the self-described Park District, with structures designed by Dallas’ own HKS Architects. The Park District will include 916,000 square feet of space, including a Class A office tower, a luxury residential tower, ground-floor retail, below-grade parking, and a plaza designed by the same landscape architect that dreamed up Klyde Warren Park. All of this will sit on three acres between Pearl and Olive Streets just north of the park, and construction should start this year.
It’s a development that’s been in the works for a few years, according to MetLife’s Dallas real estate director Kurt Day.
“This project began almost ten years ago when we bought a small well-located parcel of land in Uptown,” Day said. “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.”
The 19-story Park District Tower, which will have a Pearl Street address, will include 9,000 square feet of ground-floor retail and more than 500,000 square feet of office space. The Residences at Park District, which will have an Olive Street address, will include 225 residential units and 13,000 square feet of ground-floor retail. Each unit will have access to an amenity deck with a pool from which you can view Klyde Warren Park, as well as a top-notch gym and the usually concierge and valet services. All parking will be below-grade, the release states, so you won’t have a bunch of parking lots obscuring your views of the park, downtown, and beyond. The development will seek LEED Gold and Silver designations for the office and residential towers.
“We believe this is the best site in North Texas for a project of this kind,” said Scott Krikorian, Senior Managing Director with Trammell Crow Company’s Dallas-Fort Worth Business Unit in the press release. “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. Park District will be 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 and we look forward to adding another marquee project to Dallas’ skyline.”
It’s interesting that Trammell Crow Co. is building a luxury residential tower just across Klyde Warren Park from Museum Tower. There’s been a slight uptick in interest at Museum Tower, and we don’t yet know how prices will compare to the signature residential highrise in Dallas’ Arts District.
What are your thoughts on this development?