Downtown Dallas’ third-tallest tower is getting a second act.
Slate Asset Management and Stream Realty Partners are teaming up to redevelop the 60-story Comerica Bank Tower into a mixed-use hub that aims to reenergize the city’s Main Street corridor, the Dallas Business Journal reported.
Toronto-based Slate, which bought the 1.5 million-square-foot building at 1717 Main Street last year, plans to add residential, hotel and retail space while preserving a portion of the offices.
Dallas-based Stream, which is overseeing redevelopment and leasing, said the project will reconfigure about 600,000 square feet of office space on floors 19 through 42, with roughly half the tower repurposed for other uses.
A 242-key hotel is slated for floors nine through 18, topped by 240 apartments —10 percent of which will be designated affordable — and more than 10,000 square feet of ground-floor retail. The design by Dallas-based HKS takes advantage of the tower’s three existing lobbies, creating separate entrances for office tenants, residents and hotel guests.
“Fortunately, the building lays out extraordinarily well for introducing multiple uses,” Stream’s Ramsey March told the outlet, adding that the plan is meant to bring “around-the-clock activity” back to a downtown long dominated by vacant office floors.
The 1987 tower, designed by Phillip Johnson, is half-leased, with Comerica Bank occupying much of the space. The bank’s lease runs through 2028, but its future in the building is murky following its pending acquisition by Fifth Third Bank. Stream hopes Comerica stays put but isn’t counting on it.
HKS, which also designed AT&T Stadium and Bass Performance Hall, plans to retain Johnson’s signature arches and barrel vaults while modernizing interiors and public areas.
A controversial piece of the redesign is an eight-story parking podium that would replace the existing banking hall and plaza along Ervay Street.
Stream reworked the structure after criticism from the city’s Urban Design Peer Review Panel, adding a glass-and-fluted façade and rooftop ballroom and pool deck. The podium will add about 400 spaces to the 700 already underground — a boost March said is essential to the site’s long-term viability.
Stream hopes to start construction by next summer, pending City Council approval and additional tax increment financing. The two-year project will involve Balfour Beatty as general contractor and Mike Paneri Consulting on hotel strategy.
— Eric Weilbacher
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