Santander Tower Spec Suite #4560

Santander Tower Spec Suite #4560 is a 1,765 sq ft renovation project located at 1601 Elm Street in the Dallas Downtown Historic District. The filing, registered with TDLR in May 2023, details the alteration of existing shell space to include a reception area, break room, mail room, data room, storage, one conference room, and four offices. The estimated cost for this work is $250,000, which calculates to $142 per square foot.

Woods Capital Property Management is listed as the owner of record, while Beck Architecture serves as the design firm. The project is privately funded on private land for private use. Construction was scheduled to begin in June 2023 with a target completion date of August 2023. Although the plan review was completed in May 2023, TDLR has not yet recorded a final inspection, so the current state of the site is not confirmed in the public record.

Project Context and Comparisons

This renovation fits within the broader landscape of commercial updates in Dallas County. Among 32,387 registered renovation and alteration filings in the county, the median estimated cost is $248,000. The $250,000 budget for this suite is close to that county median. However, the cost per square foot of $142 is above the county median of $72. The scheduled build window of 63 days is shorter than the county median of 92 days, indicating a focused timeline for completing the interior fit-out.

Woods Capital Property Management has three other TDLR-registered projects totaling $4,253,120, including work at Thanksgiving Tower and another Santander Tower project. Beck Architecture has six other registered projects totaling $9,283,935, with work in Dallas, Kaufman, and Austin. The site is situated in ZIP code 75201, where the U.S. Census estimates a population of about 18,078 and a median household income of $101,098. The area is home to several major hotels, including The Adolphus, Autograph Collection and The Joule.