Portman Holdings, Foundry Commercial Reveal Details for 2500 Ross Avenue Mixed-Use Development in Dallas Arts District
Posted on March 29, 2022
Dallas, Texas (March 29, 2022) – When Foundry Commercial was founded 15 years ago, the commercial real estate firm looked forward to a day when they could pinpoint moments in time as relationships were solidified and the trajectories leading to major milestones were launched. Fast forward to February 2022, and two long-time partners join forces to make a big splash in the Dallas market, marking real estate developer Portman Holdings’ first large-scale development in the Pegasus City, at the same time that Foundry continues its major growth in the market.
While the two companies have worked in tandem on a number of successful office and mixed-use properties throughout the southeast, they are excited to announce they will be working together again on 2500 Ross Avenue, a mixed-use master-planned multifamily, retail and office development along the city block of Ross Avenue and Routh Street.
Portman Holdings, an over 62-year-old multi-generational Atlanta-based developer, which has been involved in the development of some of the most iconic mixed-use properties throughout the globe – such as Coda at Tech Square (Atlanta), Anthem Technology Center (Atlanta), The Line (Charlotte), The InterContinental San Diego, Embarcadero Center (San Francisco) – focused on Dallas as its next development target due to the market’s increasing desirability as a live-work-play destination.
“One critical factor that Portman looks for before deciding to develop somewhere is the opportunity to cultivate community, to activate an area with spaces that are just as appropriate for meetings as they are for rejuvenation, and we felt strongly that this site – which we see as the bridge connecting Uptown to Deep Ellum – provides just that,” said Travis Garland, Executive Vice President, Portman Holdings. “The 2500 Ross Avenue project, located within the thriving Dallas Arts District, will become a centerpiece of the uptown Dallas skyline, and we’re thrilled to again be partnering with the entrepreneurial, best-in-class office agency team at Foundry Commercial to put roots down in this dynamic community.”
While specific details about the project are forthcoming, preliminary designs designate two structures on a 4-acre parcel, featuring a mixed-use multifamily, retail, and office opportunities. Portman is also committed to bringing plentiful community, outdoor, and green spaces to downtown Dallas as part of this project.
Foundry Commercial, a full-service real estate services and investment firm with offices across the Sun Belt, has recently experienced exponential growth in the Dallas market, having – within the past year alone – added Texas Market Leader Steve Bassett, Managing Director Jim Traynor with the Development and Investment division of Foundry, Principals Matt Hurlbut and Dale Ray, Managing Director of Corporate Solutions Jim Hayden, as well as Vice President Lindsay Wolcott Brown to the existing team.
“We have established an incredible partnership with Portman Holdings, and we’re continuously proud to be a part of the developments that their visionary team is bringing to market throughout the country,” added Bassett. “We’ve executed on assets alongside Portman in other locations throughout the southeast, and we’re excited to have the opportunity to do that again here at 2500 Ross. What Portman envisions for this project is a destination that will profoundly impact the Downtown corridor linking Uptown and Deep Ellum.”
At this time, an anticipated timeline for construction and delivery is not being released, but site preparation efforts are underway, and work is expected to begin in the near future.
For any questions related to office leasing at 2500 Ross Avenue, contact Foundry’s Matt Hurlbut, Dale Ray, or Lindsay Wolcott Brown at 214-996-9800.
About Portman Holdings
Throughout the past 62 years, Portman Holdings has developed over 65 million square-feet of premium real estate around the world with a focus on hospitality, office and mixed-use properties. The vertically integrated real estate development, investment and management company commands a successful global network and has a proven track record with the world’s top financial institutions. Teams in the company’s global offices seamlessly connect to develop, finance and manage a diverse portfolio in the world’s core and emerging markets. Portman Holdings continues to achieve success through investor, partner and client relationships that deliver exceptional real estate projects. For additional information, visit www.portmanholdings.com
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with over 400 employees and more than 60 million square feet of management and leasing across the Sun Belt. Since 2007, Foundry has provided leasing, brokerage, building management, corporate services, and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control more than $1.5 billion in advantaged investment opportunities with their JV partners. For more information, visit www.foundrycommercial.com.
Lauren Leetun, APR
Director of Public Relations, Foundry Commercial