Atlanta-based developer Portman Holdings is pushing ahead with plans for a three-tower mixed-use development on the northeast edge of downtown Dallas.
In December, Portman purchased more than 4 acres at Ross Avenue and Routh Street and disclosed plans to build a multifamily residential, retail and office high-rise project.
Portman says in an update that the anchor tower in its 2500 Ross project will have 50 stories of office and luxury residential along with 40,000 square feet of retail. Two additional residential towers with 700 living units are also planned.
Construction is scheduled to start in mid-2023 on the project with an opening in third-quarter 2025.
“One critical factor that Portman looks for before deciding to develop somewhere is the opportunity to cultivate community, to activate an area with spaces that are just as appropriate for meetings as they are for rejuvenation, and we felt strongly that this site provides just that,” Travis Garland, Portman Holdings executive vice president, said in a statement. “This development, located within the thriving Dallas Arts District, will become a centerpiece of the uptown Dallas skyline.”
New York-based Handel Architects and HKS’ Dallas office are designing the project.
And the Dallas office of Foundry Commercial will lease the 400,000-square-foot office tower.
A 62-year-old company, Portman Holdings is the Southeast’s largest and best-known real estate developers. Founded by famed architect John Portman, the company has done projects around the world.
The developer has more than two dozen real estate projects underway in markets stretching from Atlanta to Salt Lake City.
Portman’s downtown Dallas property purchase was funded with a more than $20 million loan from Bank OZK, county records show.
The proposed Dallas project would be one of the largest in the downtown area.
