Thursday, August 28, 2008
Second high-rise planned in Dallas' downtown Arts District
Developer Billingsley Co. is finalizing plans for its second high-rise in Dallas' downtown Arts District.
Two Arts Plaza will include more office and retail space, condos plus loft-style residences on the lower floors and an urban park.
"The next one will be a little more feminine than the first building but still contemporary and true to the neighborhood," said developer Lucy Billingsley.
Earlier this year, she finished the $150 million, 24-story One Arts Plaza at Routh and Flora streets.
The second building will be just north of One Arts Plaza at Routh and Woodall Rodgers Freeway.
The most eye-catching addition to the project will be a park and retail complex with swooping lawns and landscaping.
At the base of the new high-rise, Billingsley Co. plans to construct a five-story building with loft residences overlooking the park.
Two Arts Plaza was designed by architect Morrison Seifert Murphy, which also did the first tower.
A marketing center is expected to open in October to seek residents and office tenants for the new tower.
"The whole aim is to get a lead office tenant and let it roll," Ms. Billingsley said. "We'll take the risk and build the condos.
"We are not dreaming with this – we are just trying to get a deal done."
Construction is to begin next year.
The initial building kicked off the Arts District building boom and is now almost fully leased to office tenants including 7-Eleven Inc. and law firm Thompson Knight. And all the lower-level retail space has been rented.
More than two-thirds of the condos at the top of the tower have been sold.
By Steve Brown