One of Dallas’ most exclusive office campuses is about to get bigger.
Developer Crow Holdings told The Dallas Morning News in an exclusive interview that they plan to begin work soon on a second phase of Old Parkland East.
Cody Armbrister, senior managing director of Crow Holdings Development’s office sector, hopes the firm can start on the project as soon as early fall. The project could finish in early 2029. Filings with the city are coming soon.
“Lease up has gone so well that we’re just about out of space, so we are now contemplating adding a second phase to the east campus,” he said. “If we have city approval, we will move in a swift manner.”
Early plans call for roughly three office buildings totaling 250,000 square feet of space on a 2.5-acre site bound by Fairmount Street, Shelby Avenue, Reagan Street and Maple Avenue, Armbrister said.
D-FW Real Estate News
The phase will include four levels of below-grade parking and a “specialty/signature building” in the middle of the plaza.
Armbrister said the project will include the same team from the first phase. Wales-based Craig Hamilton Architects and Dallas’s The Beck Group are designing the building with Beck serving as general contractor.
Armbrister declined to disclose estimated construction costs but said the new phase will feel like a natural evolution of the campus — very familiar but not a carbon copy.
There will be a few surprises, he said.
“There’s always a thematic element associated with each one of the phases we’re working on,” he said. “What that theme is right now — I’m not at liberty to say just yet. But it will be a theme that the people of North Texas … will be able to identify with.”
The Old Parkland campus surrounds the original 1913 Parkland Hospital building, which Crow Holdings began restoring roughly two decades ago for its headquarters.
The initial 9.5 acres features restored and newly constructed Jeffersonian-style office buildings.
The planned expansion comes on the heels of Crow Holdings’ success with the first phase of Old Parkland East, across the street from the original site.
The eight-story, 255,000-square-foot building topped with a dome replaced small restaurants and apartments on the block between Maple and Fairmount Avenue.
A majority of the office campus’ tenants are principal-based investors — family offices, private equity firms, investment banks, hedge funds, endowments and charities.
The campus has also dipped its toe into the Y’all Street movement. The New York Stock Exchange Texas will call Old Parkland home, occupying the top floor of the property’s Resolute Tower.
“It’s a great time,” Armbrister said of the expansion. “If you talk to a number of commercial real estate professionals, they would tell you [Uptown] is on fire from a need for really differentiated, dynamic office environments. … We’re trying to continue to propel and evolve the opportunity that we afford Dallas.”
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