A landmark office tower development in Dallas will be given new life as a residential community.
Located northwest of downtown, Stemmons Towers was originally built by legendary Dallas developers John Stemmons and Trammell Crowe. The white concrete and glass tower mimicked the modern post-World War II buildings the developers had toured in Europe and South America. Some buildings have small floors, with a wide roof overhanging between each level.
The more than 13-acre office campus on Stemmons Freeway was recently sold to Irving-based hotel developer Sava Holdings. Sava Holdings plans to convert four office high-rises into an apartment project called Lumiere.
This is the latest example of a developer repurposing an old office building in Dallas as new living space.
The first Stemmons Towers building opened in 1962, and the project grew with the addition of high-rise buildings, totaling 285,312 square feet.
Dallas commercial real estate firm Younger Partners has been marketing the building since 2019. Trey Anderson of Younger Partners said the city's location near the medical district and Dallas Love Field made it a prime location for redevelopment.
“This project has a storied history as one of Dallas' first high-rise office projects outside of downtown,” Younger Partners' John St. Clair said in a statement.
Sava Holdings plans to add floors to the office building and begin redevelopment late next year.
Renovations include the addition of a new outdoor pool and spa area, landscaping and new walking paths between buildings. Large parks and green areas are also planned.
“We found the Stemmons Towers site very attractive because it allows us to participate in the architectural history of the city, both present and future,” Suhas S. Naik, president of Sava Holdings, said in a statement. “The buildings may look the same, but each has its own unique footprint.
“We love the concept of allowing them to isolate together,” he said. “We also see a vision to surround the area with green space and water facilities with a community feel. Ultimately, we hope to breathe new life into this property.”
Stemmons Towers is located between the Design District and the Southwest Medical District. These two areas, northwest of downtown, are undergoing a renaissance with major construction.
“The buyer demonstrated an ability to look at the age of the building, its dilapidation, and all the issues that come with a building that was developed in the '60s,” St. Clair said. “It would have been a shame to see the building demolished. The time has finally come for Stemmons Tower.”
Sava Holdings has over 35 years of experience in hotel development. The company developed the Aloft Dallas Downtown hotel next to the convention center.
The company also has hotel projects in Fort Worth, Richardson, Plano and Irving.
The Stemmons Towers redevelopment is one of a growing number of office buildings in the Dallas area that are planned to be converted into residential space.
Developers are currently repurposing office space in several downtown Dallas skyscrapers, including Santander Tower, Energy Plaza, and Bryan Tower.
