Construction is underway on the adaptive reuse of the iconic 50-story Santander Tower at 1601 Elm St. in downtown Dallas. According to a release, Adolfson & Peterson Construction has begun work on phase two of the multifamily project by Pacific Elm Properties: the Peridot Residences, which will will add five floors and 105 one- and two-bedroom residences.
“The Peridot Residences offer a holistic lifestyle, inspired by comfort and luxury, and the new units will further enhance downtown Dallas’s residential offerings,” says Adolfson & Peterson (AP) Regional President Granger Hassmann in a statement. “Santander Tower is a great example of what underutilized office buildings can become, offering hotel, retail, office and luxury apartments.”
AP completed phase one in October 2024, which consisted of converting a total of 14 floors into 291 apartment units and amenity spaces. Pacific Elm, in collaboration with Mintwood Real Estate, redeveloped Peridot Residences from former office space into luxury multifamily housing…