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historic downtown Dallas office tower, the Hartford Building, is set to be transformed into 217 workforce apartments. Lotus Holdings and O'Reilly Hospitality plan to renovate the 14-story building at 400 N. Saint Paul St., investing an estimated $60-70 million in the project. Construction costs are expected to exceed $41 million, with work beginning in September and completion by January 2027.

    The firms will occupy floors two through 13 with apartments ranging from 500 to 900 square feet. The 14th floor will serve as a residential amenity space. Built in 1959 for Hartford Fire Insurance Group of Connecticut, the brick tower was the first downtown high-rise developed by Trammell Crow. To preserve its mid-century structure, the group will seek federal and state historic preservation tax credits.

    Lotus Holdings and O'Reilly Hospitality purchased the property in 2021 from a real estate partnership led by Dallas investor Ken Good Jr., who received over $1 million in incentives to restore the building's façade and improve streetscape. The project is part of the Dallas metro's thriving office-to-residential conversion market, with an estimated 2,725 apartments set to be created from conversion projects this year, ranking fifth nationally according to a February study by RentCafe.com.