Tax money would fund proposed Dallas tower makeover

Print
Email
|

WFAA

Posted on January 6, 2014 at 10:16 PM

Updated Monday, Jan 6 at 10:21 PM

1401 Elm Street

View larger map

DALLAS — A downtown Dallas high-rise may soon be getting a big makeover.

A city committee voted Monday to send the project at 1401 Elm Street to the full City Council.

It would bring residential, retail, restaurant and office space to the 52-story tower.

There would be an observation deck on the fifth floor and an outdoor plaza on the ninth level.

Your tax dollars will help pay for the $151 million project, if approved by the Council. The city is interested because $50 million of it would be paid through tax-increment financing.

If approved, the renovation would begin in August with a scheduled completion date of December 2016.

The building opened in 1965 as the First National Bank Tower. It was closed in 2010.

Only nine other buildings in Dallas are taller.

Print
Email
|