D ECONOMY: NEWS

City Council Greenlights Major Redevelopment of Bank of America Tower

On October 22, Dallas City Council approved a development agreement and $103 million in Downtown Connection TIF District funding to support the transformation of the iconic Bank of America Tower at 901 Main Street.

The estimated $409 million project, led by Hoque Global and PegasusAblon, will bring new life to the 72-story skyscraper by converting a portion of the tower’s existing office space into 280 luxury hotel rooms, relocating retail and restaurant space to the first floor of the tower, and constructing a new 1,115-space parking garage with 15,000 square feet of ground floor activated space across Main Street to support the project.

Mayor Pro Tem Jesse Moreno called the project a “vibrant, community-focused investment” that will help downtown Dallas thrive.

>>Learn More

H Mart Arrives in Dallas' Koreatown

The popular Asian grocery chain H Mart has officially opened its first Dallas location at 2534 Royal Lane as the newest addition to the City's Koreatown. The expansive, 70,000 square foot store offers a wide selection of Asian groceries, including fresh produce, live seafood, and specialty pantry staples. Shoppers can also enjoy in-store dining at Paris Baguette and a vibrant food hall with several Korean, Japanese, and other Asian restaurants. H Mart is one of several new and recent investments into Koreatown, which was formally designated as such in 2023 and is home to the largest Korean American community in Texas. 

>>Learn More

Local Businesses Invited to Join FIFA World Cup 2026 Supplier Network

Interested in being a World Cup vendor? The North Texas FIFA World Cup Organizing Committee has launched the North Texas Business Connect Program to engage local suppliers for FIFA World Cup 2026. Locally-based businesses can apply to provide goods and services across dozens of categories—from catering and event rentals to security and transportation. Interested businesses are encouraged to respond to upcoming RFPs.

Learn more and register here!

Incentive Inquiry Tool

Do you need help determining the best incentive program for your project? 

Complete our Incentives Inquiry Tool!  

Have questions for the Office of Economic Development?

Staff is available every third Thursday of the month during office hours between 3 p.m. and 4 p.m. for questions regarding the City's economic development tools. Join us for our next monthly meeting on November 20 at 3 p.m.

>> Learn More

For more Dallas news follow us on Twitter