Historic Gulf States building going residential
03:10 PM CST on Monday, March 7, 2005
By STEVE BROWN / The Dallas Morning News
http://www.dallasnews.com/sharedcon....1164b6a27.html
A Main Street construction project starting Tuesday will bring needed parking downtown plus additional retail and apartments. Spectrum Properties is developing its 17-story building in the 1400 block of main near Akard Street. The new project will tie into the historic Gulf States Insurance Building, which is already being converted to residential. Filling a parking lot between the Gulf States and Davis buildings, the new building will contain 20,000 square feet of retail space, six floors of parking and 84 apartments on top of that.
"The entire project will be completed by the summer of 2006," said Edward Okpa, who's overseeing the development with Spectrum Properties. Spectrum Properties started renovation of the Gulf States Insurance Building late last year. Built in 1928, the vacant office building will house 68 loft apartments. A smaller former department store behind it at Elm and Akard will also be redeveloped into 14 apartments.
Spectrum Properties is receiving an $8.5 million interest free loan from the City of Dallas and Dallas County to build the parking garage. Plans for the project have been in the works for almost three years. "It doesn't mimic the old construction but is very contemporary," said Alice Murray, Central Dallas Association president. "It's a nice bridge between the Davis and Gulf States buildings."
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new building
Gulf States Building, The new one will be built on the vacant lot.
