Developers Mike Ablon of PegasusAblon and Mike Hoque of Hoque Global have been given another 10 months to close on Bank of America Plaza, keeping alive an ambitious $409 million downtown redevelopment plan.
The pair now have until July 30, 2027, to acquire the iconic 72-story property at 901 Main St. in order to qualify for $103 million in city incentives approved by the Dallas City Council last year, according to The Dallas Morning News. The previous deadline was Sept. 30.
Ablon told DMN that the delay is related to the complexity of the transaction and completing a development agreement with the city rather than a retreat from the project, which was pitched back in 2024 as the centerpiece of a new financial district downtown.
Plans call for reducing Bank of America Plaza’s approximately 1.8 million square feet of office space to 1.5 million square feet and renovating what remains. The project would also introduce 275 upscale hotel rooms, street-level retail and restaurants, a new glass-and-steel structure containing a hotel lobby and ballroom, and a skybridge connecting to a new 1,115-space parking garage across the street…