It was OZK Bank's lease that helped begin construction on 23Springs, and more details are now available about the more than 100,000 square feet of land that the Arkansas-based publicly traded bank plans to demolish.
OZK Bank announced in 2022 that it will occupy four floors of a 26-story Class AA office building at the corner of Cedar Springs Road and Maple Avenue in Uptown Dallas.
OZK Bank's 108,000-square-foot completion will cost $20 million in construction, according to a filing with the Texas Department of Licensing and Regulation posted Thursday.
Construction on the bank's footprint is scheduled to begin in November, with an estimated completion date of June 2025, according to the filing. Dallas-based HKS Inc. is listed as the design firm for the OZK Bank space.
Beyond the large lease, OZK Bank played another key role in moving 23Springs forward. It provided the construction funds for the project.
Designed by GFF Architects, 23Springs was originally conceived by Plano-based Granite Properties. In 2022, North Carolina Real Estate Investment Trust joined as a 50% equity partner and acquired a joint venture partner in Highwoods Properties.
At over 625,000 square feet, the office development is set to be Dallas' largest office delivery in the coming years and has recently attracted another notable tenant.
Professional services giant Deloitte LLP announced in January that it would be leaving its longtime home in Chase Tower and moving to a four-story, more than 100,000-square-foot property.
Currently more than a third leased, 23Springs is scheduled to open in 2025.
In addition to office space, the 2.5-acre development will include two restaurant buildings, an above-ground park, and amenities such as a golf simulator and valet parking.
DPR Construction is the general contractor on the project.
