Downtown Dallas’ Comerica Bank Tower is set for a major redevelopment, with plans to transform the city’s third-tallest building into a mixed-use property. Slate Asset Management, based in Toronto, and Dallas-based Stream Realty Partners are collaborating on the project, according to the Dallas Business Journal.
Slate purchased the 1.5 million-square-foot tower at 1717 Main Street last year. The redevelopment will introduce residential units, a hotel, and retail spaces while maintaining some office space. Stream Realty Partners will manage both the redevelopment and leasing of the property.
The renovation will see approximately 600,000 square feet of office space configured on floors 19 through 42. About half of the building will be repurposed for other uses. Plans include a 242-room hotel on floors nine through 18, with 240 apartments above it—10 percent of which are designated as affordable housing—and over 10,000 square feet of ground-floor retail space.
Dallas-based architecture firm HKS is leading the design work. The redesign leverages the tower’s three existing lobbies to provide separate entrances for office tenants, residents, and hotel guests.
“Fortunately, the building lays out extraordinarily well for introducing multiple uses,” said Ramsey March of Stream Realty Partners. He added that the intention is to bring “around-the-clock activity” back to downtown Dallas.
Originally designed by Phillip Johnson in 1987, Comerica Bank Tower is currently about half-leased. Comerica Bank occupies much of the remaining office space under a lease that extends until 2028. However, uncertainty surrounds its continued presence due to an upcoming acquisition by Fifth Third Bank. Stream Realty expressed hope that Comerica would remain but acknowledged there are no guarantees.
HKS aims to preserve Johnson’s distinctive architectural features while updating interiors and public areas. One debated element of the project is an eight-story parking podium planned to replace the existing banking hall and plaza along Ervay Street. After facing criticism from the city’s Urban Design Peer Review Panel, Stream revised this portion to feature a glass-and-fluted façade along with a rooftop ballroom and pool deck. The podium will add about 400 new parking spaces to complement the current underground parking capacity—a move March described as crucial for long-term viability.
Construction could begin next summer if City Council grants approval and additional tax increment financing is secured. The two-year development timeline involves Balfour Beatty as general contractor and Mike Paneri Consulting handling hotel strategy.
“Fortunately, the building lays out extraordinarily well for introducing multiple uses,” said Ramsey March of Stream Realty Partners.
The project seeks to revitalize Main Street by converting vacant office floors into active spaces throughout all hours.
