A local real estate development and investment firm is planning to build an office high-rise in Uptown Dallas.
Dallas-based Stonelake Capital Partners is moving forward with plans to build a new 17-story, 180,000-square-foot Uptown office tower on property the firm purchased back in 2021, according to The Dallas Morning News.
Stonelake’s planned office tower will be located at 2626 McKinney Avenue, across the street from Whole Foods Market.
Coleman Brown of Stonelake Capital Partners believes it is the perfect location for an office tower due to the area’s many conveniences, such as being walking distance from The Crescent and Ritz-Carlton, as well as being close to Whole Foods.
“2626 McKinney will provide the full spectrum of offerings for tenants who want to be in the urban core of one of the most dynamic markets in the country,” Brown said, per The Dallas Morning News.
To build Stonelake’s 17-story tower, the firm must demolish the property’s current low-rise office structure. Stonelake expects the tower to be completed sometime in 2025.
Upon completion, the tower will reportedly feature an 11th-floor amenity space with a tenant lounge, a conference and event area, as well as a fitness center and terrace.
Dallas-based architecture firm Beck Group will design the office tower, while marketing for the building will be handled by Chicago-based commercial real estate firm Cushman & Wakefield.
Beck Group is designing the penthouse suite with a “boutique, white glove feel,” according to Brown, per The Dallas Morning News. Plans for the suite also include a 2,300-square-foot private terrace with a view of the Dallas skyline.
Besides the future Uptown office tower, Stonelake is also working on developing a $300 million mixed-use project in West Dallas and a $123 million residential high-rise in Deep Ellum.
As the Uptown office tower moves into the later stages of development, Stonelake Capital will have to navigate Dallas’ long permit approval times, which can lead to higher costs and longer completion times.