Another Dallas office building is planning a conversion to residential space.
The eight-story 1600 Viceroy building near Dallas’ Love Field was built in the 1980s as the headquarters of a local mortgage company. Over the years, the almost 250,000-square-foot property has housed a number of tenants – most recently Freeman Co. and furniture firm Sutherland.
Now the owners are planning to convert half of the building into apartments, according to planning documents filed with the state. Construction is set to start late this year on the conversion of four floors of the property, which is owned by an Irving investor.
Built in 1983, the building adjacent to Brook Hollow Golf Club has large terraces on the lower floors.
Frisco’s BCI Architects is designing the project.
The northwest Dallas property joins a growing list of North Texas offices that developers are planning to redo as residential space.
With the slowdown in office leasing and rising vacancies in many buildings, owners and investors are scrambling to find new uses for excess space.
A recent report suggested as many as 50 local office buildings could make the switch.
Several big downtown Dallas office skyscrapers are being redone with apartments.
Construction was just completed on 228 apartments in the 50-story Santander Tower on Elm Street. The 49-story Energy Plaza tower on Bryan Street is converting upper floors to 294 residential units. Work also is about to begin on more than 400 apartments in the 40-story Bryan Tower.