Dallas-based commercial real estate developer Stream Realty has secured a construction loan to build a 12-story office building and five restaurant buildings on four acres in Uptown Dallas. It’s only been a few years since then.
A Dallas developer has begun construction on The Quad, a rebranding of the 1960s-built Quadrangle, in the first quarter of 2022, before speculative office projects become much harder to finance.
“We were able to thread the needle on the Uptown market at a time when we thought space would be constrained for some time, and the results were as expected,” said Stream’s Ramsey March. . Managing Director and Development Partner.
The company has officially completed construction on its building at 2699 Howell St., which joins a smaller sister office building on the site of The Quad that was built in the 1980s.
The new office building spans more than 345,000 square feet and is clad in terra cotta, a material chosen for its energy efficiency. The terracotta was shipped from Germany and assembled by hand in Texas.
The top floor of the office building features a dedicated amenity level with a covered terrace and a first-floor fitness center. Ceiling heights on office floors can reach 13.5 feet.
The lobby, which can be accessed by crossing between the restaurant buildings from Howell Street or from the underground parking garage, is anchored by what Stream believes to be the largest indoor high-definition digital art installation in the state, featuring a roughly two-year library of content that changes throughout the day.
Stream assembled a Dallas team to help integrate the office building, with architects Omniplan leading the design and Austin Commercial serving as general contractor. Facility Performance Associates provided LEED consulting.
So far, the office has tenants including Oregon-based M Financial, Blackstone’s Leventage, Chicago Title and Berkshire Residential.
Stream’s Ryan Evanich and Marissa Parkin will lead office leasing, and Rue Realty’s Jeremy Zidell will oversee retail leasing. Stream’s development team included Brad Dornak, Jerry Mays, Blake Bell, and March.
The bungalow-like restaurant on the corner of Routh and Howell streets is expected to open in the coming months and into next year. There are seven dining concepts throughout The Quad development.
The building’s technology features include a mobile phone application for the elevators that allows you to program your preferences based on the time of day. Arrived at the office before 8am and want a coffee? It can take you to the lobby or amenity level. Stuck in traffic and arriving at 8:01am? The app can take you directly from the parking lot to your office floor.
Other features include an indicator that shows the number of parking spaces available on a particular floor, and the ability to track the whereabouts of colleagues to see how busy spaces are and how available meeting rooms are.
Another key aspect of Stream’s redevelopment of The Quad is the addition of lawns for both residents and the local community.
March said he saw neighbors playing soccer on the field over the weekend.
“That energy is going to be woven into the fabric of development for decades to come,” March said. “When people leave their homes and come to the office, they need to feel like they’re going to a place where they want to be.
“The place-building turned out exactly as we hoped it would,” he said.
The project’s concourse of restaurant buildings is expected to eventually flow into Lincoln’s planned mixed-use development, which will be built on four acres along Cedar Springs Road between Fairmount and Routh streets, south of Turtle Creek.
However, this isn’t the only new office space coming online in and around Uptown.
The expansion of Crow Holdings’ Old Parkland campus and 26-story 23Springs development are among the most pressing realizations.
Financial institutions Bank of America and Goldman Sachs also plan to pursue new projects north of downtown.
Parkside Uptown, Bank of America’s future home at the corner of Harwood Avenue and Woodall Rogers Freeway, secured a $290 million construction loan earlier this year. The tower is scheduled to be completed in 2027.
Dallas firms Hunt Realty and Hillwood’s 800,000-square-foot, $500 million office campus will house thousands of Goldman Sachs employees and is also scheduled to open in 2027.
