Elm Uptown Acquisition
Last week, we told you about the mess happening at 1401 Elm, a landmark $240 million redevelopment deal in downtown Dallas facing forced foreclosure after a developer pulled out. The city of Dallas had committed $50 million in economic incentives to further progress. But with of the departure of New York-based Olympic Property Partners from the project, early…
Read MoreDowntown Dallas’ 1401 Elm was once touted as the tallest building west of the Mississippi River, with 52 stories and 1.5 million square feet of office space. This Central Business District skyscraper, formerly the First National Bank, has stood depressingly vacant since 2010. Plywood boards and “keep out” signs mar the once-impressive edifice. Plans were underway for an encompassing $240-million…
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