Two developers from Dallas, Mike Hoque and Mike Ablon, have their sights set on purchasing the tallest tower in town with plans to redevelop it. According to the Dallas Business Journal, they have already secured a contract for the 72-story Bank of America Plaza from its current owner Metropolis Holdings.
In an interview with D CEO magazine, Hoque and Ablon revealed that they intend to invest $350 million into renovating the 1.85 million-square-foot building. Their vision for BofA Plaza includes transforming it into a luxury hotel with 300 rooms in collaboration with Aimbridge Hospitality.
Aside from this major addition, their plans also include a reflecting pool on the 69th floor as well as an upper-level restaurant and three street-level restaurants and shops.
This move comes after Bank of America announced last year that they will be relocating from their current location at 901 Main Street to Parkside Uptown near Klyde Warren Park. With this exciting new development underway by these two investors, we can expect great things ahead for BofA Plaza’s future transformation.
