Construction on the 500,000-square-foot Bank of America Tower at Parkside, in Dallas’s Uptown neighborhood, has reached a milestone, with the successful pour of the concrete slab for the 12th-floor Sky Lobby and Lounge, the building’s owner, Pacific Elm Properties, announced Wednesday.

This step marks the transition from the tower’s structural podium levels to the premier office space in the rest of the Class AA building’s 30 total stories. On completion, the 454-foot, LEED Gold tower will be the tallest office building in Uptown, standing three floors taller than any other building in the area.

The site, at the corner of North Harwood Street and Woodall Rodgers Freeway in Uptown, is adjacent to the 5-acre Klyde Warren Park, built over the top of Woodall Rodgers Freeway. The location is also just minutes from the Arts District, the Design District and the Katy Trail.

In prepared comments, Pacific Elm CEO Billy Prewitt said the project is ahead of schedule to top out next summer and reach substantial completion in 2027.

Bank of America is the tower’s anchor tenant, leasing floors 19 through 27; proposals reportedly are active across all other available floors.

The 12th floor Sky Lobby and Lounge and amenity level sits 100 feet above street level and features a conference center, coffee and cocktail bar, and four outdoor terraces with views of downtown and Klyde Warren Park.

The tower was designed by Kohn Pedersen Fox and Corgan and is being developed by KDC and the Miyama family.

In April 2024, the joint venture between Pacific Elm Properties and KDC secured a $290 million construction loan for the tower from Goldman Sachs Alternatives. JLL represented the borrower in obtaining the four-year, floating-rate note.

The visually striking greenery will make the tower stand out in the Dallas CBDSource: KPF

Pros and cons

Pacific Elm and KDC have their work cut out for them in leasing up the non-anchor space in Bank of America Tower at Parkside. Class A office space in Dallas’s Uptown/Turtle Creek submarket has a total availability of 24.2 percent, on an inventory of 15.4 million square feet, and with just over 2 million square feet under construction, according to a second-quarter report from Partners Real Estate.

On the other side of the ledger, a flight to quality is pervasive in the Dallas office market, Partners reported, and that has benefitted “newer properties with more amenities, which are more highly concentrated in Uptown and other some of the northern suburban submarkets.”

This story originally appeared on Commercial Property Executive.