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    Uptown High-rise

    McKinney & Olive high-rise brings bold curves to Uptown landscape

    Teresa Gubbins
    Dec 5, 2016 | 9:38 am
    McKinney & Olive
    Hey baby, check out those curves.
    Photo by Craig D. Blackmon

    Two years after breaking ground, Crescent Real Estate celebrated the grand opening of McKinney & Olive, the 20-story structure offering office and retail space in Uptown Dallas.

    Crescent Real Estate chairman and CEO John Goff says that the company has heavily invested in the Uptown area to make Dallas a better place. The opening of McKinney & Olive deepens Crescent's investment and visibility in Uptown, expanding its presence to four major properties spanning approximately 20 contiguous acres.

    Those include The Crescent, the mixed-use complex built in 1986 that serves as an anchor and continues its reign as the financial center of the Southwest. The company recently completed a $33 million renovation.

    There's also the Ritz-Carlton, Dallas and the Residences at the Ritz-Carlton, which Crescent opened in 2007. And in July 2016, Crescent and its affiliates purchased Hotel Crescent Court.

    McKinney & Olive is located at 2021 McKinney Ave., on a 3.1-acre site across the street from the Ritz-Carlton. It was designed by architectural firm Pelli Clarke Pelli, whose founder Cesar Pelli dubbed it a "sexy" building, which you might expect since his firm designed it. The building has bold curves, retail space, and a piazza for gatherings.

    Building highlights include the two-and-one-half-story grand lobby filled with crystal-clear glass and dramatic Carrara marble extracted from the legendary Italian quarries that Michelangelo once surveyed and prospected. The office floors feature 10-foot ceilings and highly efficient and flexible floor plates.

    The corners of the building have been specially designed without supporting columns so that the floor-to-ceiling glass walls offer unobstructed city views up and down McKinney Avenue, over to the Arts District and Klyde Warren Park downtown, and as far as Victory Park.

    A customer-only Concierge Floor features a sunlit conference center and a fitness studio designed and equipped by Canyon Ranch. The studio also overlooks a landscaped rooftop terrace.

    The one-acre piazza was created by landscape architecture firm the Office of James Burnett, which also designed Klyde Warren Park. It includes green spaces, water features, a fire pit, seating, and two valet parking options for office and retail visitors.

    The retail component includes Del Frisco's Double Eagle Steakhouse, which is already open. More restaurants are coming in 2017, including the Texas debut of two concepts: Doc B’s Fresh Kitchen, a Chicago-based fast-casual concept with food, craft beer, wine, and spirits; and Roti Modern Mediterranean, a fast-casual concept with wraps, rice plates, and salads.

    McKinney & Olive is nearly 93 percent leased. Tenants already signed on include law firms Gardere Wynne Sewell LLP and Sidley Austin LLP; real estate giants Cushman & Wakefield and Prologis Industrial REIT; and ad agencies Saatchi & Saatchi and Team One, whose clients include Toyota and Lexus.

    Pelli Clarke Pelli has produced international recognizable structures such as World Financial Center in New York, the Petronas Towers in Malaysia, and the International Finance Centre in Hong Kong.

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    news/real-estate
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    REAL ESTATE NEWS

    Nearly half of Dallas home sellers are slashing prices amid buyer’s market

    Brandon Watson
    Apr 29, 2026 | 2:31 pm
    Homes
    Photo by Dillon Kydd on Unsplash
    Nearly 58 percent of San Antonio home sellers dropped their list price in February

    Prospective home buyers in Dallas may want to seal the deal this spring. According to a new Redfin report, nearly 47.3 percent of home sellers in the city dropped their list price in February.

    Two other Texas cities clocked ahead of Dallas: In Austin, the number was 55.2 percent, and in San Antonio, it was an eye-popping 57.9 percent — the highest share among the 50 most populous regions in the U.S.

    According to the real estate marketplace, Texas’ dominance on this list isn't coincidental. Along with Florida, the state has been building more homes than anywhere in the nation, giving prospective buyers more options and bargaining power.

    Nationwide, 34.2 percent of February home sellers cut their asking price, a 31.5 percent rise from a year earlier and the highest share ever since Redfin began tracking markets in 2012. The average cut was $40,915, approximately 7 percent of the original sticker price.

    Redfin attributes the discounts to a classic supply-and-demand imbalance. High mortgage rates combined with economic uncertainty have kept buyers on the fence while sellers continued to flood the market with new homes. The company speculates that the real rate of cuts may be higher since it does not account for delisted properties.

    “A lot of people who couldn’t sell their homes last year opted to delist instead of reducing the price, with a plan to relist this spring because they knew that would give them a better chance of selling,” says Redfin real estate agent Aditi Jain, via a release “Some homeowners need to move immediately, but those who can afford to time the market may get a better price.”

    Redfin says that spring consistently produces the lowest share of price cuts, with May having the lowest share in six of the past 10 years, and April taking the title in three others.

    Sellers who closed in December faced the highest likelihood of cutting their price. Sellers who have owned their homes longest are also better protected from market fluctuations.

    Owners who have lived in their homes for at least seven years cut prices at a rate of 31.8 percent, compared to 37.4 percent for those who have owned for two years or less. More recent buyers who purchased their homes at the height of the pandemic boom are now reluctant to accept what the market will actually bear.

    The five U.S. cities with the highest shares of cut listing prices are:

    No. 1 — San Antonio, Texas (57.9%)
    No. 2 — Austin, Texas (55.2%)
    No. 3 — Dallas, Texas (47.3%)
    No. 4 — Tampa, Florida (45.9%)
    No. 5 — Fort Lauderdale, Florida (44.9%)

    economyhome marketrankingsreal estatehome-for-salehousing market
    news/real-estate

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