Major Dallas Development Is Announced

Plans for a 4.3-million-square-foot mixed-use office development in downtown Dallas have been announced by Metropolitan Life Insurance Co. and Lincoln Property Co.

To be built in several phases, the project is expected to cost $800 million to $1 billion when completed and was called “one of the largest real estate investments ever made by Metropolitan,” by Glen Coverdale, executive vice president responsible for real estate investments.

Ground will be broken early this year on the five-acre site on Akard Street between Ross Avenue and Woodall Rodgers Freeway. Plans include a 45-story and two 54-story buildings linked by a six-story office and retail building, with a 15- to 20-story hotel also on the site.