**Developers Plan $409M Overhaul of Downtown Dallas’ Bank of America Plaza**
Mike Ablon of PegasusAblon and his partner, Mike Hoque of Hoque Global, are spearheading an ambitious plan to acquire and revitalize the iconic 72-story Bank of America Plaza in downtown Dallas—currently the city’s tallest skyscraper.
The redevelopment project, which includes surrounding city blocks, was recently presented to two Dallas city advisory boards. The boards have given preliminary approval for over $100 million in incentives to support the initiative. The proposal is expected to go before the Dallas City Council in an upcoming meeting for final consideration.
The estimated cost to transform the building is $409 million. At present, the tower’s office space is approximately 70% leased.
Key elements of the proposed renovation include:
– Conversion of a portion of office space into hotel accommodations
– Construction of a new eight-level parking garage with capacity for 1,115 vehicles
– Addition of a hotel ballroom and event space
– Creation of an elevated pedestrian walkway over Main Street, linking a glass-enclosed ballroom to neighboring retail and dining areas
This major redevelopment aims to reposition Bank of America Plaza as a modern, mixed-use destination in the heart of downtown Dallas.
