Dallas, Texas – In a significant real estate move within the heart of Dallas, Bank of America is poised to emerge as the principal tenant in an ambitious office venture set to adorn the vicinity of the renowned Klyde Warren Park.
Dallas-based firms, Pacific Elm Properties and KDC are behind the Parkland project in Dallas
This substantial development, christened ‘Parkside,’ is the collaborative brainchild of two Dallas-based firms, Pacific Elm Properties and KDC. This imposing 30-story edifice, strategically located at the intersection of North Harwood St. and Woodall Rodgers Freeway, spans an expansive 500,000 square feet. Intriguingly, the land upon which this architectural marvel will rise has been a longstanding asset in the portfolio of the Miyama family.
In a move that underscores Bank of America’s commitment to this enterprise, the financial behemoth is set to occupy a staggering 238,000 square feet within this Class AA tower. Further amplifying its presence, upon the bank’s tenancy, the structure will undergo a rebranding, and henceforth be recognized as the ‘Bank of America Tower at Parkside’.
“This site overlooking Klyde Warren Park, amid an abundance of walkable Uptown Dallas amenities, is an ideal space to bring our team together in a central location where they can collaborate on behalf of our clients,” said Bank of America Dallas President Jennifer Chandler in a prepared statement.
“We look forward to being the signature tenant at the Bank of America Tower at Parkside as we provide a great place for our teammates to work as part of our longstanding commitment to Dallas,” Chandler said.
In the intricate web of lease negotiations for this coveted space, JLL’s seasoned expert, Andy Leatherman, championed the interests of Bank of America. In contrast, the duo of Aarica Mims from KDC and Sara Terry representing Pacific Elm Properties astutely steered the talks for their respective firms.
A noteworthy migration is on the horizon: approximately 1,000 professionals, predominantly hailing from the 901 Main St. address, will transition to this new business hub.
The Parkland project in Dallas is set to start soon and be finished in 2027
With October drawing near, the initial stages of demolition are imminent. Laying the groundwork for this edifice, which boasts the architectural acumen of Kohn Pedersen Fox, construction endeavors are penciled in to kick off as 2023 draws to a close. Stakeholders eagerly anticipate its unveiling, tentatively slated for the initial semesters of 2027.
“We are excited to work with KDC and the Miyama family to deliver this iconic tower for one of the world’s leading financial institutions,” said Jonas Woods, CEO of Pacific Elm Properties, in a statement. “With KPF’s design, luxury amenities and incredible location, this asset will undoubtedly establish the new standard for office space in Uptown Dallas.”
The forthcoming tower will be replete with deluxe offerings — the 12th-floor stands out with a panoramic sky lobby and lounge. Additionally, alfresco terraces promise unobstructed, exquisite vistas of the sprawling five-acre expanse of Klyde Warren Park.
And for Bank of America’s denizens? They’re set to be treated to an enviable panorama — sweeping views of the downtown skyline complemented by a flood of natural luminescence in their workspace.
“It is a great privilege to work alongside Pacific Elm Properties in the development of this incredible project in an exemplary location across from Klyde Warren Park,” KDC Executive Vice President for Development Eric Hage said. “This project’s start is a testament to Bank of America’s commitment to providing its employees with a best-in-class workplace in an unbeatable location.”
In the grand scheme of the tower’s development, other notable contributors like Corgan and OJB Landscape Architecture have emerged as instrumental stakeholders.
Bank of America’s strategic decision to nestle its operations amidst the picturesque backdrop of Klyde Warren Park—a verdant oasis seamlessly connecting Uptown with Downtown Dallas—is not an isolated move in the corporate landscape.
In a somewhat analogous relocation, JPMorgan Chase & Co., the financial heavyweight, transitioned its Dallas headquarters just a year prior. Intriguingly, this new location sits almost cheek by jowl with what will soon be Bank of America’s contemporary abode.
In the immediate vicinity, an even grander endeavor looms. The venerable Manhattan-based titan, Goldman Sachs, is laying down preliminary blueprints for an imposing 800,000-square-foot corporate enclave. Upon completion in an estimated triennium, this sprawling edifice is expected to become the professional hub for approximately 5,000 Goldman personnel. With a projected budget eclipsing $500 million, this enterprise stands out as one of the most ambitious office expansions Dallas has borne witness to in recent memory. This mammoth complex, anchoring a three-acre parcel on North Field Street under the aegis of Hillwood Urban, signifies just the inaugural phase of an expansive 11-acre development, masterminded by Hunt Realty Investments.
Originating from Charlotte, North Carolina, Bank of America holds the esteemed title of North Texas’s premier banking institution, gauged by deposit magnitude. The fiscal year prior saw this banking colossus declare a staggering sum exceeding $136 billion in local deposits, as per FDIC records.