In 2019, Todd Interests took over a vacant 52-story bank tower; a $450 million redevelopment turned it into a hotel, apartments and retail hub

Todd Interests took control of the redevelopment of a vacant 52-storey bank tower in downtown Dallas, Texas in 2019. It led a $450 million project, then turned the former First National Bank Tower into a mixed-use property. It featured a hotel, luxury apartments, restaurants, retail outlets and office space.

The building is now known as The National. It stands at 1401 Elm Street in downtown Dallas. According to reports, it was completed in 1965. Notably, it was once the tallest building west of the Mississippi river. Also, it had remained vacant since 2010 and left a large property unused.

Why did Todd Interests take over the project?

Todd Interests stepped in at a crucial time when the redevelopment had faced several delays. Before this, Drever Capital Management had previously led efforts to transform the tower. Notably, it had acquired the property in 2016.


Todd Interests took over the control of the project in May 2019. It did that in partnership with Moriah Capital. This brought new funding and also a fresh push in order to complete redevelopment. Hence, construction work resumed and completion target was set as 2020 year-end.

It was a challenging project as the building was huge. It had historic features as well. To convert an old office tower into a modern residential and hospitality property.

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What did the redevelopment include?

The redevelopment was designed in a way to bring several uses into one building. In the plan, Thompson hotel, restaurants, luxury apartments, office space and retail outlets were included.

The final development had 324 residential units. Initially, the project included plans for 318 apartments.

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It also had 43,000 square feet of retail space and also 37,000 square feet of office space.

Notably, the redevelopment was done with the purpose to preserve the landmark tower. They also wanted to adapt to modern commercial and residential needs.

The developers announced in February 2020 that the former First National Bank Tower would be renamed The National. This represented the building's place in Dallas' history. The redevelopment also attracted Downtown Dallas Inc.

This became Todd Interests' one of the major redevelopment projects and it ultimately wrote a big chapter in history books.