Wednesday, December 03, 2014
Vacant downtown Dallas office building next in line for apartment redo
Owners of a vacant downtown Dallas office building plan to turn the property into luxury apartments with retail and parking on the lower levels.
The 411 N. Akard building will be 50 years old next year and has spent most of the last decade sitting empty.
Two years ago the 10-story, blue metal clad office block was purchased by the owners of Ross Tower across the street.
California State Teachers Retirement System, with the help of Dallas’ PegasusAblon and its partner Lionstone Group, bought the 365,000-square-foot office property for the 800 parking spaces located underneath the empty offices.
Now the owners have filed plans with the City of Dallas to convert the six upper vacant levels of the building into 215 apartments.
Merriman Associates Architects has drawn up plans that include cutting a central courtyard into the center of the office block.
“It’s a great solution to this vintage of building that has such a large footprint,” said architect Jerry Merriman.
A swimming pool on the roof will provide views of the surrounding downtown buildings.
The groundfloor of the building would be used for retail space.
One plan shows the property with its original name: The Mayflower Building. Later it was called Insurance Plaza.
The project was designed by Thomas Stanley, the same architect that did the nearby First National Bank Tower at 1401 Elm St.
The six levels of underground parking were included in the project to serve customers at the new Sanger Harris department store across the street – now the DART headquarters building.