Pacific Elm Properties

Dallas-Based Pacific Elm Properties Buys St. Paul Place Office Tower in Downtown Arts District

by | Apr 26, 2023
Jonas Woods' Pacific Elm Properties said it has bought the 22-story St. Paul Place office tower at Ross and St. Paul in the Dallas Arts District. The purchase was financed with a $66.7 million loan from MetLife Commercial Mortgage.
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Downtown Dallas’ 60-Story Comerica Bank Tower Could Get Apartments, Hotel, Retail
The tower is the second-tallest in Dallas and was designed by noted architect Philip Johnson and his partner John Burgee. Jonas Woods' Pacific Elm Properties recently took majority ownership of the building, and plans to convert 20 floors into apartments and a luxury hotel, according to the Dallas Morning News. “We believe a mixed-use tower is much more likely to be successful today than a more than one million-square-foot office tower,” Woods told the DMN.
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