Almost three months after Goldman Sachs broke ground on its Dallas campus at North End, residents may be wondering why a large hole is being dug at the site.
“I don’t know if there is a record for the biggest hole in Uptown, but this one is 4.5 acres and 75 feet deep,” Colin Fitzgibbons, president of Hunt Realty Investments, told The Dallas Morning News. “It’s going to take two full years to go all the way down and build back up to grade. We are going to be digging that hole for much of next year.”
441,000 cubic yards of dirt will be removed as workers build the underground parking garage, which will accommodate 2,000 cars, according to the DMN.
The North End development near Victory Park began in October. At full build-out, the site will include an 800,000-square-foot building with two wings on North Field Street and a 1.5-acre urban park.
“We have been operating in Dallas for more than 50 years,” John Waldron, president and COO of Goldman Sachs, said in a news release.
“This state-of-the-art new campus further demonstrates our commitment to Dallas and is a testament to the incredible talent and strong client base in the region. We look forward to Goldman Sachs’ vibrant future in Dallas and are excited to continue partnering with the local community for many years to come.”
The office building is designed by New York-based Henning Larsen Architects “to support the health and wellness” of Goldman Sachs’ employees. It will include a fitness center, cafe, child-care center, conference spaces, and access to outdoor terraces and gardens.
“Luring the biggest names in business is becoming business as usual in Dallas, but this is a major moment for our city,” Dallas Mayor Eric Johnson said in the release.
“Goldman Sachs is the premier name in finance and investment banking. The expansion of this global brand in our city center is a remarkable sign of how far Dallas has come in recent years as we have focused on attracting talent and businesses by prioritizing public safety, improving quality of life, and reducing our tax rate.”
Expected to be complete in late 2027, the new building will accommodate more than 5,000 people.
Based in New York, Goldman Sachs employs about 4,000 in the Dallas-Fort Worth area. Its Dallas office is the second largest in the U.S.