Cityplace Tower Redevelopment (The Apron) — Dallas

NexPoint is turning one of Dallas’s most recognizable towers into something it was never built to be. The 42-story Cityplace Tower, a pink-granite landmark that has anchored the Uptown skyline since 1988, is headed for a roughly $445 million redevelopment that converts much of the office block into apartments, hotel rooms and retail. The first phase, branded The Apron, carries a price tag around $100 million and is set to start before the end of 2026.

Project Scope

The plan reworks a single-use office high-rise into a mixed-use vertical neighborhood. Residential floors, a hotel component and ground-level retail replace a large share of the commercial space that has struggled to stay leased since the pandemic reset office demand. The building’s floor plates, elevator cores and curtain wall all have to be re-engineered for residential loads, plumbing risers and operable-window egress, which is where most office-to-residential conversions live or die. Cityplace has one advantage many conversion candidates lack: relatively slim floor plates that let daylight reach interior units.

Why It Matters

Dallas has more office square footage sitting empty than almost any U.S. metro, and Cityplace is the highest-profile test yet of whether conversion pencils out at scale here. The economics are not universal. Conversions work when land and shell value are low enough to offset the cost of gutting mechanical systems, and Uptown’s strong apartment rents give NexPoint a rare shot at making the math close. If The Apron delivers on budget, it becomes a template other Dallas owners will study before they write off their own half-empty towers. If it stalls, it confirms the skeptics who argue most 1980s office stock is easier to demolish than to reinvent.

Project Team & Details