D
allas' tallest skyscraper, the 72-story Bank of America Plaza building at 901 Main Street, is set to undergo a $350 million redevelopment. Mike Hoque's Hoque Global and Mike Ablon's PegasusAblon acquired the property from Metropolis Holdings for an undisclosed price. The developers plan to add a 300-key hotel with a rooftop pool on the 69th floor and revamp the surrounding streetscape.

    The building is losing its namesake tenant, Bank of America, which is downsizing to KDC's Parkside Uptown development. This leaves a significant void in the tower, but Hoque and Ablon aim to transform the adjacent land into restaurants, shops, and public spaces. The project has been years in the making for Hoque, who sees it as an opportunity to revitalize the area.

    "We didn't just want to buy the building; we wanted to do something that will change the area," Hoque said. Ablon, a visionary behind the Dallas Design District's transformation, shares his enthusiasm. "If you can spur street life, then people want to be there, and if people want to be there, then great things happen."

    The redevelopment could have a lasting impact on downtown Dallas' economy, with Hoque and Ablon already in talks with the Texas Stock Exchange to anchor the office portion of the building. The project's design will feature separate lobbies and entrances for office tenants and hotel guests, ensuring distinct experiences.