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    Downtown News

    Downtown Dallas high-rise fine-tunes rehab with ancient Greek marble

    Teresa Gubbins
    Nov 28, 2017 | 12:14 pm
    Drever
    This marble is fit for the Greek gods.
    Photo courtesy of the Drever

    A major restoration project in downtown Dallas is underway: The Drever, one of the largest buildings in downtown and the only building in Dallas to span a full city block, is getting its exterior re-did.

    The building's marble exterior is being removed, restored, and reinstalled, with surplus being reutilized in the building's interiors.

    Located at 1401 Elm St., the building is the former First National Bank of Dallas, and has had a rocky road in its redevelopment, changing hands more than once and facing foreclosure a number of times. Drever Capital Management just secured a new loan; the project is scheduled to be complete by the end of 2018, with the building opening in the first quarter of 2019.

    But come on, let's get back to that divine marble: It was originally attached to the building during its construction in the early 1960s. Dense, handsomely veined white marble slabs came from a quarry in Mount Pentelikon, a mountain range located in Attica, Greece — the same quarry as the marble used to build the Parthenon, which itself very possibly may have also had some financing woes during its construction, and nobody talks about that now.

    Steve McCoy, president of Drever Construction Co., worked with lead architect Merriman Anderson/Architects and contractor Andres Construction to develop a solution to remove, restore, and reinstall the slabs with new connections that will secure and stabilize the tower's exterior for decades to come — making these minor foreclosure concerns seem so utterly trivial.

    The process provides a surplus marble and terrazzo that, to the delight of the project's interior designers, will be reused in the building’s interiors. Like marble, terrazzo is simply divine.

    "The process will allow this irreplaceable stone to not only be restored to its former glory, but remain as a sound element of the building’s structure for many years to come," says McCoy in a release. "The fact that the team was able to find a way for the excess marble to be repurposed adds another layer of history to this already impressive structure."

    The skyscraper originally was designed by architects George Dahl and Thomas E. Stanley and has been home to Hunt Oil, the Dallas Petroleum Club, and the fictitious J.R. Ewing’s staged office set for Ewing Oil in the TV show Dallas.

    The midcentury, 52-story tower's distinctive façade was often compared to the pin-striped fabric of a traditional banker's suit because of the repeating pattern of white marble and dark gray floor-to-ceiling windows. The Drever redevelopment will include a luxury high-rise offering 324 residential units, a Thompson Hotel planned with 218 rooms, spa, retail, office, and destination restaurants.

    The condition of the panels and the integrity of the building's engineering necessitated the decision to refurbish the marble. Existing mechanical connections were separating from the original structure. The panels will be refurbished by cladding the natural stone to a structural aluminum honeycomb backer panel, which will ensure the engineering integrity and the historical value of the original marble slabs.

    Hycomb USA is responsible for the stone cutting and the application of the new structural aluminum honeycomb panel. Besides creating extra marble slabs for the building interiors, marble remnants from the cutting and cleaning process will be crushed and repurposed into terrazzo to be utilized in the elevator cab floors, elevator lobby flooring, and flooring on the ninth-floor amenity deck.

    When completed, The Drever's eight-story tower base will be transformed into a dynamic area with more than 27,000 square feet of ground floor retail space, 44,000 square feet of office space, the hotel and residents' lobbies, and a grand ballroom.

    A wraparound amenity deck with sightlines to surrounding buildings, including a resort quality pool, a spa, a health and fitness room, dog park, and outdoor recreation spaces will be on the ninth floor at the top of the base element. The 50th floor will feature an open-to-the-public observation deck.

    Jerry Merriman, AIA, president of Merriman Anderson/Architects, says in a release that he commends Drever Capital Management for their commitment to the quality of the project. "Repurposing is generally more expensive and time-consuming than demolishing and replacing with new," Merriman says. "The building's owner, Maxwell Drever, appreciates the significance of this building to the history of downtown Dallas."

    downtownurban-renewal
    news/real-estate

    Downtown News

    Historic West End Dallas mixed-use complex gets familiar new owner

    Teresa Gubbins
    May 28, 2026 | 4:30 pm
    Market Ross Place
    Courtesy
    Market Ross Place

    A historic building in Dallas' historic West End has a familiar new owner: Five Smooth Stones, a real estate company that specializes in renovation, just acquired Market Ross Place, a mixed-used combination of three buildings located at 1701 N. Market St.

    Five Smooth Stones is led by Owen Hannay, Dallas native and West End enthusiast who first began investing in the neighborhood in 2000, and is now making a return to the historic area to breathe in new life.

    “We have had a lot of success in the West End over the past 25 years but, like many other districts, it tends to be cyclical, so we find ourselves with a lot of opportunity to improve the West End — again," Hannay says in a statement.

    Market Ross Place consists of three buildings connected by a five-story atrium, comprising four restaurants and office space totaling approximately 142,000 square feet. It was built in 1905 and is listed on the National Register of Historic Places.

    Hannay also bought three retail buildings across from Market Ross, a parcel that includes the Museum of Illusions; the former Gators restaurant; and a building containing Mas Tacos and Cannon Bakery. He also bought the West End Parking Garage, which includes 35,000 square feet of retail and more than 650 parking spaces on six levels.

    These acquisitions closed in March 2026.

    Hannay, who also owns Dallas ad agency Slingshot LLC, first began investing in the West End when he acquired the Awalt Building at 208 N. Market St. in 2000. He went on to buy other West End properties such as a three-building portfolio at Elm and North Record streets, giving him one of the largest stakes in the neighborhood, with ownership of nearly one quarter of the 1 million square feet of office space in the area.

    Over the years, Five Smooth Stones has purchased and renovated almost 1,000,000 square feet of historic office and retail space in The West End.

    One of their most high-profile purchases was the Landmark Center, the six-story building at 1801 N. Lamar St. that was formerly a regional center for the FBI and also served as the first office HQ for CultureMap Dallas when the site launched in 2012. Five Smooth Stones bought it in 2004, renovated it, sold to Argus Realty Investors LP in 2006 — then bought it back again in 2023.

    The Landmark Center is one of many properties in the West End that has undergone multiple ownership changes, bouncing from local companies like Five Smooth Stones to institutional companies — often with less than ideal results.

    “When we sold our holdings in the West End in 2015, office occupancy in the district was probably over 90 percent," Hannay says. "We intend to get there again by proving that businesses want high-quality, well priced, centrally located historic space that exists in a genuine neighborhood that provides a human scale to live in, work in, and play in."

    To that end, Five Smooth Stones has signed several new lease agreements in the Landmark Center, as well as facilitating the comeback of Ellen's Restaurant into its old space at Market Ross.

    The new office tenants at Landmark include:

    • The Law Offices of Dean Omar Branham Shirley, LLP, a leading law firm, leasing almost 16,000 sq ft
    • HighLevel Inc., a marketing technology company with 15,700 sq ft on the fifth and sixth floors
    • Benchmark Group Architects, with 7,500 sq ft on the first floor
    • The Houston Room, an event venue occupying 6,000 sq ft on the fourth floor

    … along with several smaller tenants including Corgan Architects Model Studio, Wildcat Investments, Cravens Brothers, JF Depetris, Jr., CPA and Collabridge Solutions, Inc.

    The new leases bring The Landmark Center to more than 50 percent occupancy, with additional build- to-suit leasing opportunities available ranging from 2,000 to 30,000 sq ft.

    "I believe that the leases we have already signed are indicative of demand,” Hannay says.

    dallas west enddowntownhistoric buildingsustainability
    news/real-estate

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