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Neiman Marcus' downtown Dallas flagship store will remain open through the end of the year after Saks Global, its parent company, reconsidered its decision to close. The City of Dallas is working on a plan to keep the store open long-term, potentially involving a "reimagination" of the space.
City Manager Kimberly Bizor Tolbert met with Saks Global CEO Marc Metrick to pitch a financially beneficial plan for Neiman Marcus to stay in the store at 1618 Main Street. The city is open to using economic development funds on the store, but it's unclear how much taxpayer money was offered to keep the store open.
The reimagination of the space could include a luxury retail experience, curated art exhibitions, and fashion events. Shoppers have noticed the store's dwindling merchandise and bare-bones staff since last Christmas.
In other Texas real estate news, President Trump's administration released a second list of federal buildings for sale, including one in San Antonio and one in Houston. Dallas federal buildings are not on the list.
Tilman Fertitta plans to resign as CEO of Landry's if confirmed as ambassador to Italy and San Marino. Texas Attorney General Ken Paxton is investigating a Dallas-area development connected to the East Plano Islamic Center.
An $800 million European spa resort is planned for central Dallas, and the Harold Simmons park project is moving forward, expected to generate $1 billion in related real estate investment.
