From Dallas Express · Dallas Express · · 1m 30s
Dallas Tower Faces Sept 30 $103M Deadline
Dallas' tallest tower must be acquired by Sept 30 to secure $103M city incentive for its $409M redevelopment.
In brief
Dallas' tallest tower must be acquired by Sept 30 to secure $103M city incentive for its $409M redevelopment. Developers need to buy Bank of America Plaza by Sept 30 to keep the $103M city incentive for the tower's transformation. Originally reported by Dallas Express.
Deadline for Bank of America Plaza
Developers must acquire Bank of America Plaza by September 30, 2026, to secure a $103 million city incentive for the redevelopment.
Project Cost and Timeline
The redevelopment project costs $409.1 million and requires the developer to complete the acquisition by September 30, 2026.
City Incentive Details
The City of Dallas approved a $103 million tax increment financing agreement in October 2025 for the redevelopment.
Redevelopment Plan
The project includes a 280-room hotel, eight-level parking with 1,115 spaces, and retail improvements at street level.
Bank of America Plaza
Bank of America Plaza, built between 1983 and 1985, is Dallas' tallest building at 72 stories with 1.85 million square feet.
Project Background
The redevelopment aims to reduce office space from 1.8 million to 1.5 million square feet while adding hotel and retail amenities.
Previous Reports
The Dallas Express reported the project was initially valued at $350 million in 2024, later increased to $409 million in city materials.
City's Perspective
Dallas officials note reduced office demand post-pandemic, prompting adaptive reuse projects for older downtown buildings.
The headline
Developers need to buy Bank of America Plaza by Sept 30 to keep the $103M city incentive for the tower's transformation.
