New Details Released About OHT Partners’ Ambassador Hotel Redevelopment Project
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A slate of luxury apartments at the former Ambassador Hotel site — the historic hotel southeast of downtown Dallas that was destroyed by fire in 2019 — could be ready for tenants in 2026, developers with OHT Partners announced last week.
Texas-based multifamily development, construction, and investment firm OHT Partners recently began site work for a 299-unit luxury apartment community on about 2.5 acres at 1300 S. Ervay St. The first units could open as early as the third quarter of 2026, while the remainder is set for completion in 2027, officials said.
To respect and reflect the historical significance of the site, which was destroyed by fire in 2019, OHT Partners and Dallas-based architect firm Corgan worked closely with the City of Dallas, the Historic Landmark Commission, and local advocacy groups. Doing so led to the creation of a set of historic preservation guidelines that adhere to the design language of the original building in a new and elegant form, according to an OHT press release.
“The new building uses many of the architectural details that harken back to the original hotel,” said Stephen Lohr, associate principal and multifamily studio leader for Corgan.
The footprint of one of the two buildings, heightened base, regularized windows, and accent side porch are all details reminiscent of the hotel’s design, Lohr added.
Ambassador Project
Ambassador, reportedly a $60 million construction project, will offer a mix of units, ranging from 502-square-foot studios to two-bedroom homes with 1,539 square feet. Amenities include a pool that overlooks downtown and an indoor/outdoor club with a kitchen, various dining spaces, and televisions. The development will have co-working spaces, a micro-market, a dog park and grooming stations, and a state-of-the-art fitness center.
The Ervay Street location is next door to Old City Park and within walking distance to the Dallas Farmers Market and the Central Business District, providing future residents access to more than 135,000 jobs and a vibrant local community. The area is also well-connected by major thoroughfares, including Interstates 30 and 35, and the Dallas North Tollway, officials said in the press release.
“This is an exciting time for the Cedars neighborhood, and we’re honored to contribute to its growth,” said Howell Beaver, OHT Partner’s managing director of the Dallas-Fort Worth market. “Ambassador will stand as a cornerstone in the area’s continued momentum, and we look forward to what the future holds for the Cedars.”
Ambassador is in a Qualified Opportunity Zone, a federal program that incentivizes development in designated areas with federal tax incentives under the Tax Cuts and Jobs Act of 2017 — so long as certain conditions are met.
Ambassador marks the fourth QOZ investment for OHT Partners, which previously developed Cactus Rose, Lenox 7th, and EastPoint in Austin. It’s also the third investment BluePrint Local, a private equity firm that manages QOZ funds, has facilitated for an OHT project, officials said.
‘Best in Class’ Multifamily Developer
BluePrint Local’s Founder and CEO, Ross Baird, has led the investment and management of approximately $200 million into 25 Qualified Opportunity Zone projects.
Baird said he considers OHT Partners a “best in class” multifamily developer and lauds the approach it took with Ambassador, according to the press release. Specifically, he notes the low-leveraged financial structure for the project combined with the tax benefits of being in an Opportunity Zone. The formula creates a unique opportunity for investors that will ultimately bring long-term financial stability to both the project and the area, Baird said.
“Ambassador is exactly why the Opportunity Zone program was designed,” he said. “It will provide high-quality housing in Dallas, a city that has a shortage of 100,000 housing units, and it’s part of a much broader plan to reshape the Cedars and downtown Dallas. We are proud of the excellent project the Ambassador will become, and the role it will play in making the Cedars and Dallas an exciting place to live, work, and play.”
In addition to OHT Partners serving as the developer, its sister company, OHT Partners Construction, will serve as the general contractor. Additional team members include:
- Civil engineer: Spiars Engineering, Inc.
- Structural engineer: United Structural Consultants, Inc
- Mechanical, electrical, and plumbing Consultant: V3 Consulting Engineers
- Interior design: Ink + ORO Creative
- Landscape architect: Bud Creative
- Bank: IBC Bank
OHT Partners builds luxury apartment communities throughout the state. In the DFW area, it has built properties in Oak Lawn, East Dallas, Arlington, Garland, and Fort Worth.
