An inside look at the $170M redevelopment of 1401 Elm

Olympic Property Partners LLC. will soon be the lead on a $170 million redevelopment of the 52-story, 1.3 million-square-foot property at 1401 Elm St.

The property, which extends for an entire city block and has been vacant for years, is becoming a multiuse residential, retail and office tower. Plans include more than 500 apartments with floor-to-ceiling windows, an indoor-outdoor rooftop deck with an infinity pool, a multimedia theater and a public observation deck on the 50th floor.

If construction begins this fall and demolition and remediation go as planned, the complex could be completely rennovated by summer 2016. Seth Weinstein Will oversee the project with partners Robert Friedman of Olympic Property Partners and Bryan Dorsey of Fort Worth-based BDRC. The New York and Fort Worth firms formed a partnership, Olympic 1401 Elm Associates LLC, to purchase the building. Jerry Merriman of Dallas-based Merriman Associates/Architects has been tied to the project for years and will also join the team.

Source: Dallas Business Journal, Feb 27, 2014.
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