$290 Million Construction Loan Secured for 500,000-Square-Foot Parkside Uptown Office Project in Dallas

A major new office project in Uptown Dallas is set to break ground thanks to a substantial $290 million construction loan that has been secured. The forthcoming 30-story Parkside Uptown tower, standing at an impressive 500,000 square feet, is slated for completion in 2027 and has already attracted the attention of a prominent tenant.

Bank of America has cemented a deal to occupy nearly half of the state-of-the-art building, which will overlook the picturesque Klyde Warren Park. The financing for the project was arranged by the capital markets team at JLL, who secured the significant four-year loan from Goldman Sachs Alternatives’ real estate group on behalf of developer Pacific Elm Properties.

Led by investor Tom Dundon and CEO Jonas Woods, Pacific Elm is partnering with Dallas developer KDC and property owner Miyama USA Texas to bring this exciting new development to fruition. The striking design of the Parkside Uptown tower is being overseen by New York-based architect Kohn Pedersen Fox Associates, in collaboration with Dallas-based Corgan and OJB Landscape Architecture.

Amenities at the building are set to include a 12th-floor “sky lobby and lounge,” outdoor terraces on four floors, and ground-level retail spaces, making it a sought-after destination for businesses in the area. The move by Bank of America to vacate its current downtown location in favor of the new development highlights the growing appeal of Uptown Dallas as a prime business hub. With construction gearing up, the Parkside Uptown project is on track to reshape the city’s skyline and further solidify Dallas as a premier business destination.