Exclusive: Harwood Lands $100M for Dallas Office Project
TPG Capital originated the funds for the development.
Harwood International has secured a $100 million loan for Harwood 15, an office project totaling 340,754 square feet in Uptown Dallas, according to Yardi Matrix. TPG Capital issued the mortgage.
Capitalizing on Harwood 14, its previous development, the owner unveiled plans for a new Class AA 23-story office project in 2023. The developer retained the same team, which included architects Kengo Kuma & Associates, Corgan, as well as in-house design and construction management teams.
The groundbreaking on Harwood 15 was initially scheduled for early 2025, with a completion date set for June 2027 and a construction cost estimated at $120 million, according to The Dallas Morning News.
Harwood 15 will be taking shape at 3008 N. Harwood St., within the company’s Harwood District. The tower will be close to the Design District, Stemmons Freeway and to the Victory transit station. Dallas Fort Worth International Airport is less than 18 miles northwest.
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Plans for the upcoming building will include a lobby area, a motor court and a restaurant at the ground level, seven levels of parking spots across floors two through eight and a sky garden on the ninth floor.
Meanwhile, indoor amenities will encompass a fitness center with wet and dry sauna, cold plunge and steam rooms, a conference center, a pickleball court and a golf simulator. The development will also feature a 20,000-square-foot rooftop area with office space, a terrace and restaurant.
In June last year, international law firm Jones Day renewed its lease at one of the office buildings within the campus, with plans to later move at Harwood 15, where it will occupy more than 73,000 square feet, The Dallas Morning News reported. Harwood International’s Blake Welsh is the leasing manager in charge of Harwood 15, according to the company’s website.
Back in 2023, before plans for Harwood 15 were announced, law firm Haynes and Boone LLP opened its new office at Harwood 14, where the company occupies 142,000 square feet and is the building’s anchor tenant. The company initially preleased 125,000 square feet back in 2020, but then expanded its footprint as the firm grew, signaling the ongoing demand for larger office space at the time.
Capitalizing on its heritage
Harwood 15 represents Kengo Kuma & Associates’ fourth project within the Harwood District. The architecture and design team crafted the tower to align with the already existing buildings within the 19-city block mixed-use neighborhood.
Harwood District started in 1984 with the opening of the Rolex Building, the first office project in Uptown Dallas. Harwood International developed the district with the intention to turn the area into a work-and-play space with hospitality amenities and street-level experiences.
To date, the Harwood District includes more than 3 million square feet of office, residential, hotel, retail and restaurant space, as well as multiple parks, gardens and sidewalks. There are 13 office and multifamily completed buildings, while potential additions include Harwood 12, a 500,000-square-foot prospective office project set to rise 40 stories, Yardi Matrix shows.
Dallas construction activity keeps strong pace
By midyear, Dallas’ office pipeline included nearly 3.3 million square feet, ranking second in the U.S. The metro’s development activity outpaced most gateway markets, while developers continued to add large projects.
Earlier this month, Pacific Elm Properties reached a milestone at the Bank of America Tower at Parkside, a 500,000-square-foot development set to become the tallest tower in Uptown Dallas. In August, Granite Properties and Highwoods Properties opened 23Springs, a 641,563-square-foot mixed-use property consisting of an office tower and two restaurant buildings. Construction on the project began in 2022, with $265 million in funds from Bank OZK.
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