Neiman Marcus Group’s new Dallas hub has secured its project location, and it is set for renovation, according to a filing with the Texas Department of Licensing and Registration.
In July, Neiman Marcus Group announced that it had selected the Cityplace Tower near Uptown Dallas as a corporate hub. The project, officially titled “Neiman Marcus Interior Tenant Improvement,” has a start date of October 28, 2022.
The landmark Dallas-based luxury retailer will occupy Cityplace Tower floors 11 through 13. The space will be roughly 85,000 square feet, and renovations will take place across all three floors. The location at 2711 North Haskell Avenue is just east of Uptown and borders the upcoming luxury development, The Central.
The estimated cost of the renovation is more than $12.1 million. Gensler has been selected to design the project.
Neiman Marcus Group received a $5.25 million economic development grant agreement from the City of Dallas for its planned expanded headquarters. The grant agreement stipulates that the retailer must retain a minimum of 1,100 full-time jobs in Dallas by the end of 2023.
The average wages of the jobs must be $49 per hour, and at least 35% of employees must reside in Dallas. Neiman Marcus workers in the downtown facility or other stores do not count toward the employment count at headquarters. The company may, however, continue to keep offices at 1618 Main St. in downtown Dallas.
The agreement further stipulates that Neiman Marcus Group must lease and occupy its new headquarters space in Cityplace Tower on or before April 30, 2023.
Under the agreement, by the end of 2026, Neiman Marcus must also create an additional 300 full-time jobs and retain its flagship store downtown through December 31, 2031.
This development is a part of Neiman Marcus’s plan to bounce back after COVID presented significant hurdles for the company, causing it to file for Chapter 11 bankruptcy and close over a dozen stores.