Downtown News

Iconic downtown Dallas building will transform offices into residences

Glossy facade of the Santander Tower.

Courtesy rendering

An iconic downtown high-rise is planning to transform some of its office space into apartments: Santander Tower, the building at 1601 Elm St. that was previously known as Thanksgiving Tower, is going to be remodeled into apartments.

According to a release, building owner Woods Capital has hired Adolfson & Peterson Construction (AP), a family-owned construction management and contracting company, to do a multifamily adaptive reuse of the 50-story tower.

AP will partner with Woods Capital and Dallas-based developer Mintwood Real Estate to convert multiple floors in the 1.4 million-square-foot downtown building into 228 multifamily units, along with amenity spaces.

The office building underwent a $40 million renovation in 2017, and its tenant list is anchored by Santander Consumer USA. It has a helipad, and a two-story hotel on the top two floors called The Guild, with rates that range from $139 to $198 a night.

The conversion will begin in summer 2022 with renovations on the first floor as well as floors 18-25 and 37-39.

Dallas-based architect WDG designed the multifamily units and indoor amenities.
Swoon provided interior design services.
TBG Partners designed the exterior amenities.

The project is set for completion in fall 2023.

Thanksgiving Tower is the eighth-tallest building in Dallas although when it was built in 1982, it was the second tallest building. It was renamed Santander after its main tenant in 2020. It's a shiny, glassy monolith, across from Thanks-Giving Square, behind The Eye, and a block away from Belse, the acclaimed vegan restaurant.

AP's Gulf States regional president Will Pender says in a statement that they're exhilarated to be involved in the project. Bonus points for "exhilarated," much better than the usual "thrilled."

"Adaptive reuse is a thrilling trend in today's real estate industry," Pender says. "This is an exciting development for the Dallas Central Business District, which is ripe for office-to-residential conversions."

The project will feature one- and two-bedroom unit floorplans.

Project amenities include a swimming pool, dog park, fitness room, common gathering spaces, and a meeting space featuring a kitchen for entertaining.

Mintwood Real Estate CEO Katy Slade notes that the building will come with some nice views.

"Converting high-rise office floors to residences in the Dallas CBD provides much-needed housing – and the views are stellar," Slade says.

Woods Capital previously invested more than $40 million in Santander Tower to update all building systems, refurbish common areas, add an executive fitness center, and renovate the lobby and plaza. The mixed-use tower features office space, multiple on-site dining options including a private dining club and a boutique hotel.

"We are excited to see this project come to life and bring more housing options to the urban core. By converting vacant office space into luxury, multifamily housing, we can create a more vibrant, mixed-use neighborhood and meet the growing demand caused by migration to the area,” says Woods Capital founder, president, and CEO Jonas Woods.

downtown

HAUTE PROPERTIES

Texas Hill Country ranch tied to George Strait lists for $19.5 million

Lone Woman Ranch, the Hill Country estate where country stars like George Strait, George Jones, and the Ace in the Hole Band rehearsed, is up for sale for $19.5 million.

Located on 675 acres in Hays County, just south of Austin, the secluded ranch once served as an artistic getaway for emerging Texas artists. The property, listed by Republic Ranches, is named after the nearby Lone Woman Mountain, and its elevation provides an incredible view of the county. On a clear day, you can see all the way to downtown Austin.

The land comes with two residences, both built near the entrance gate. The primary stone house has original hardwood floors, a recently remodeled kitchen and bathrooms, as well as a new HVAC system. The secondary residence was used as a rehearsal space. Both have had long-term residents who made improvements, and both have their own septic systems, wells, and electric meters.

The real appeal of Lone Woman Ranch, however, is the extensive woods, creeks, and natural setting. It is situated next to 6,000 acres of conservation land, including Storm Ranch.

Two fully stocked ponds — a 4-acre and a 1-acre — are located onsite. Runoff from the larger pond creates picturesque seasonal limestone waterfalls. The surrounding woods are full of wildlife, including white-tailed deer, turkeys, doves, and more, and the property is under wildlife exemption.

The entire mountain is included in the property, making it a veritable mini-kingdom for the owner, with unobstructed privacy on three sides. A network of ranch roads provides access throughout the property, including most of the way up Lone Woman Mountain, giving views around every corner.

It's little wonder the ranch was a muse to so many country musicians. But only Strait can tell you whether his 1996 hit "King of the Mountain" was inspired by the ranch.

Photo courtesy of Republic Ranches

Lone Woman Ranch has ties to country music stars.

ranches hill country hays county celebrities george strait george jones listings