FOR IMMEDIATE RELEASE
THE CRESCENT® ANNOUNCES $30 MILLION RENOVATION TO TRANSFORM ACCLAIMED DEVELOPMENT INTO AN OPEN, INVITING GATHERING SPACE IN UPTOWN DALLAS .
November 7, 2014
Major renovation reflects The Crescent’s desire to become an integral part of Uptown’s growing, pedestrian-friendly vitality; top-to-bottom improvements will make upscale dining, shopping and work experience more accessible.
Intended to touch every exterior edge of the mixed-use development, Crescent Property Services LLC today announced plans to spend more than $30 million to upgrade The Crescent® with an emphasis on opening the iconic office towers and adjacent hotel, retail and entertainment amenities as a gathering space for the vibrant Uptown neighborhood. The first major renovation since its 1986 completion, the $30 million investment follows nearly $15 million spent during the past three years enhancing Dallas’ premier office address, increasing energy reliability and efficiency, and improving customer mobility throughout the project.
Designed by John Burgee and Pritzker Prize-winning architect Philip Johnson, The Crescent opened as a self-contained, mixed-use project with full-service amenities for workers and guests. As Uptown Dallas evolved as an energetic, urban hotspot in recent years – with condos and apartments, retail and top restaurants, a flourishing Dallas Arts District and the popular Klyde Warren Park nearby – auto and pedestrian traffic in Uptown has risen dramatically. Recognizing that positive progression, The Crescent will focus on creating greater street presence to attract Uptown’s ever-growing crowds to its dining and retail outlets.
“The Crescent is Dallas’ most prestigious address in the region’s most vibrant market – Uptown,” said John Zogg, managing director for Crescent Real Estate Equities, LLC. “We have three of the best designed office towers with adjacent upscale shopping and premier hotels and restaurants on 11 acres in the heart of Uptown. We are opening our arms to the neighborhood – embracing our great neighbors and welcoming them to work, shop and dine with us.” Historically, the nearly 11-acre self-contained complex appeared isolated from the neighborhood. Thick stone walls and iron grillwork gates projected an exclusive and internally focused business. The upgrades will signal an open and inclusive office space and fashionable retail atrium that will encourage residents and visitors to drop by for a bite to eat, to grab a coffee, meet with friends or do some shopping. Changes will include outdoor courtyards with open gardens and terraces serving as gathering spaces and facilitating community access.
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