Construction to Start on Parkside; Bank of America to Occupy 238k SF as Signature Tenant

09/20/23 | Press Release

DALLAS – (Sept. 20, 2023) – Pacific Elm Properties and KDC announce plans to start construction in October on Parkside, a 500,000-square-foot Kohn Pedersen Fox-designed trophy office tower. The 30-story tower will be built on the corner of North Harwood Street and Woodall Rodgers Freeway, just steps away from Klyde Warren Park.

As the signature tenant, Bank of America will occupy more than 238,000 square feet of office space in the building. Upon move-in, the tower will be known as Bank of America Tower at Parkside.

“We are excited to work with KDC and the Miyama family to deliver this iconic tower for one of the world’s leading financial institutions,” said Jonas Woods, CEO of Pacific Elm Properties “With KPF’s design, luxury amenities and incredible location, this asset will undoubtedly establish the new standard for office space in Uptown Dallas.”

“It is a great privilege to work alongside Pacific Elm Properties in the development of this incredible project in an exemplary location across from Klyde Warren Park,” said Eric Hage, KDC executive vice president for development. “This project’s start is a testament to Bank of America’s commitment to providing its employees with a best-in-class workplace in an unbeatable location.”

“Bank of America Tower at Parkside is a reflection of Pacific Elm Properties’ commitment to develop exciting, Class-AA mixed-use projects in dynamic urban areas,” said Tom Dundon, partner, Pacific Elm Properties. “The site is undoubtedly one of the best in all of Texas.”

Tenants can enjoy the beauty of the five-acre Klyde Warren Park from any floor in the tower. One of the greatest vantage points will be on the 12th-floor Sky Lobby and Lounge, which will feature shared tenant space equipped with a coffee and cocktail bar, as well as outdoor terraces to encourage collaboration and relaxation. Bank of America Tower at Parkside will also incorporate an abundance of natural light with unobstructed Downtown Dallas views.

“This site overlooking Klyde Warren Park, amid an abundance of walkable Uptown Dallas amenities, is an ideal space to bring our team together in a central location where they can collaborate on behalf of our clients,” said Bank of America Dallas President Jennifer Chandler. “We look forward to being the signature tenant at the Bank of America Tower at Parkside as we provide a great place for our teammates to work as part of our longstanding commitment to Dallas.”

The project’s projected timeline features demolition in October followed by site work, and construction commencement by the end of 2023 with building delivery scheduled for the first half of 2027.

This parcel has long been operated by an affiliate of Miyama USA Texas, which is owned by the Miyama family, maintains significant DFW Metroplex ties and will continue to maintain an interest in the land upon which Bank of America Tower at Parkside will be developed.

Corgan and OJB Landscape Architecture are also part of the design team working together to deliver this timeless and collaborative representation of today’s modern workspace. JLL Managing Director Andy Leatherman represented Bank of America, KDC Senior Vice President and Director of Leasing Aarica Mims represented KDC and Pacific Elm Properties Chief Marketing Officer and EVP of Leasing Sara Terry represented Pacific Elm Properties in the lease transaction.

About KDC

KDC is a leading corporate development and investment firm for companies across the country. For more than 30 years, KDC has produced approximately 36 million square feet valued at over $9 billion. KDC addresses the future of Corporate America by developing walkable, mixed-use urban environments anchored by notable clients. Beyond corporate offices, the firm specializes in data center and corporate industrial development. KDC's portfolio includes projects for FedEx, J.P Morgan Chase, Liberty Mutual, Raytheon, State Farm (Dallas and Atlanta offices), and Toyota North America and Volkswagen. KDC is headquartered in Dallas and is supported by a national team with offices in Atlanta and Charlotte, North Carolina.

About Pacific Elm Properties

Pacific Elm Properties owns, manages, leases, and invests in, and develops dynamic, mixed-use properties in Dallas, Texas and Raleigh, North Carolina. With an uncompromising commitment to placemaking, Pacific Elm elevates existing and creates new upscale urban neighborhoods, including Parkside in Uptown Dallas, The Field Street District in Downtown Dallas, Ivy Park in the Knox District and the new PNC Arena district in Raleigh.

Pacific Elm Properties was formed and is managed by Woods Capital, which was founded by Jonas Woods in 2007. The Pacific Elm team has been an active participant in the real estate market as an investor, developer, and manager of real estate assets for over 30 years and has completed over $6 billion in real estate acquisition and/or development transactions including office, residential, industrial, retail and mixed-use properties. Pacific Elm’s existing portfolio is comprised of seven Class A towers totaling 6.5 million square feet and 10 acres of developable land located in Uptown and Downtown Dallas and 80 acres in Raleigh.

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