{"id":1004183957,"date":"2017-07-14T05:38:37","date_gmt":"2017-07-14T13:38:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004183957"},"modified":"2022-12-09T01:25:53","modified_gmt":"2022-12-09T09:25:53","slug":"westdale-to-redevelop-historic-downtown-dallas-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/westdale-to-redevelop-historic-downtown-dallas-asset\/","title":{"rendered":"Westdale to Redevelop Historic Downtown Dallas Asset"},"content":{"rendered":"<p>By Razvan Cimpean<\/p>\n<div id=\"attachment_1004183963\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Rendering-of-the-redeveloped-Mid-Elm-Lofts-in-Dallas.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004183963\" data-attachment-id=\"1004183963\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/westdale-to-redevelop-historic-downtown-dallas-asset\/rendering-of-the-redeveloped-mid-elm-lofts-in-dallas\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Rendering-of-the-redeveloped-Mid-Elm-Lofts-in-Dallas-e1500031683908.jpg\" data-orig-size=\"1328,999\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Razvan-I Cimpean&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1500039912&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rendering of the redeveloped Mid Elm Lofts in Dallas\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Rendering of the redeveloped Mid Elm Lofts in Dallas&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Rendering-of-the-redeveloped-Mid-Elm-Lofts-in-Dallas-e1500031683908.jpg?w=1024\" class=\"wp-image-1004183963 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Rendering-of-the-redeveloped-Mid-Elm-Lofts-in-Dallas-e1500031683908.jpg\" alt=\"Rendering of the Mid Elm Lofts redevelopment project in Dallas\" width=\"300\" height=\"226\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Rendering-of-the-redeveloped-Mid-Elm-Lofts-in-Dallas-e1500031683908.jpg 1328w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Rendering-of-the-redeveloped-Mid-Elm-Lofts-in-Dallas-e1500031683908.jpg?resize=300,226 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Rendering-of-the-redeveloped-Mid-Elm-Lofts-in-Dallas-e1500031683908.jpg?resize=768,578 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Rendering-of-the-redeveloped-Mid-Elm-Lofts-in-Dallas-e1500031683908.jpg?resize=1024,770 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004183963\" class=\"wp-caption-text\">Rendering of the Mid Elm Lofts redevelopment project in Dallas<\/p><\/div>\n<p>After teaming up with KDC earlier this year to construct The Epic, a mixed-use, <a href=\"https:\/\/www.commercialsearch.com\/news\/westdale-kdc-kick-off-mammoth-dallas-project\/\">transit-oriented Dallas development<\/a>, Westdale Real Estate Investment and Management secured the debt financing for the redevelopment of\u00a0Mid Elm Lofts in Dallas. The funding incorporates a recourse\u00a0loan originated\u00a0by a Texas-based bank, state and federal historic tax credits, a city tax incremental financing and a tax abatement from the Landmark Commission of Dallas.<\/p>\n<p>Located at 1512-1516 Elm St. in the heart of downtown Dallas, the three-building, 19,395-square-foot asset\u00a0will feature 29 high-end boutique apartments in a turn-of-the-century loft setting, ground floor retail, basement retail and a trendy rooftop retail area.<\/p>\n<h2>Preserving the original appearance<\/h2>\n<p>Through this certified rehabilitation, the exterior of the buildings will be completely restored, while the interior will be\u00a0rehabilitated and adapted to preserve its integrity. Although the fa\u00e7ade will maintain its original appearance, Westdale plans to renovate all three buildings as one development.\u00a0<\/p>\n<p>The property offers easy access from U.S. Route 75\u00a0and sits directly across from Joule Hotel, the recently completed LTV Tower and the ongoing 1401 Elm St. redevelopment.<\/p>\n<p>Metropolitan Capital Advisors\u2019 Justin Laub was responsible for arranging the financing.<\/p>\n<p><em>Image courtesy of\u00a0Westdale Real Estate\u00a0Investment\u00a0and Management<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Metropolitan Capital Advisors arranged the debt financing for the redevelopment of Mid Elm Lofts in Dallas on behalf of Westdale Real Estate Investment and Management. The project will completely restore the exterior of the buildings and rehabilitate and adapt the interior to preserve its integrity.<\/p>\n","protected":false},"author":753,"featured_media":1004505891,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21782,21825,21752,21742],"tags":[36756,35661,34605],"class_list":["post-1004183957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-development","category-finance","category-mixed-use","category-latest","tag-justin-laub","tag-metropolitan-capital-advisors","tag-westdale-real-estate-investment-and-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Westdale to Redevelop Historic Downtown Dallas Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/westdale-to-redevelop-historic-downtown-dallas-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Westdale to Redevelop Historic Downtown Dallas Asset\" \/>\n<meta property=\"og:description\" content=\"Metropolitan Capital Advisors arranged the debt financing for the redevelopment of Mid Elm Lofts in Dallas on behalf of Westdale Real Estate Investment and Management. The project will completely restore the exterior of the buildings and rehabilitate and adapt the interior to preserve its integrity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/westdale-to-redevelop-historic-downtown-dallas-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-14T13:38:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:25:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Rendering-of-the-redeveloped-Mid-Elm-Lofts-in-Dallas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1568\" \/>\n\t<meta property=\"og:image:height\" content=\"1005\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Razvan Cimpean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/westdale-to-redevelop-historic-downtown-dallas-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/westdale-to-redevelop-historic-downtown-dallas-asset\/\",\"name\":\"Westdale to Redevelop Historic Downtown Dallas Asset - 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