Berkadia Expansion in Dallas, TX

The Terraces, located at 5960 Berkshire Lane in the Park Cities neighborhood of Dallas, is the site of a 6,036 sq ft interior renovation. This project, filed with the Texas Department of Licensing and Regulation (TDLR) under the name Berkadia Expansion, involves alterations to the fifth floor of a high-rise office building. The estimated cost for this work is $500,000, which equates to $83 per square foot. The owner of record is CIO Terraces, LLC, and the design firm of record is LPA Design Studios.

The project was registered in December 2025, with construction scheduled to begin at the same time and finish in March 2026. TDLR completed the plan review process in January 2026. Although the scheduled completion date has passed, the TDLR record shows that the agency has not yet recorded a final inspection. Therefore, the current physical state of the site is not confirmed in the public record.

Financial and Scope Context

This renovation is privately funded on private land for private use. The $500,000 estimated cost is above the Dallas County median for renovation and alteration filings, which stands at $249,000. The $83 per square foot cost is also above the county median of $72. The scheduled build window of 120 days is longer than the county median of 92 days. CIO Terraces, LLC has two other TDLR-registered projects in Dallas, totaling $1,450,000, both of which have completed review.

LPA Design Studios has six other TDLR-registered projects totaling $83,270,000, including a $60,500,000 project in Spring Branch and an $18,750,000 project in San Marcos. The surrounding area includes established businesses such as Hillstone and The Plaza At Preston Center. Census estimates for the 75225 ZIP code indicate a median household income of $189,985 and a median owner-occupied home value of $1,489,200.

Third-party listings describe The Terraces as a modern workspace in a highly-amenitized environment. Highwoods Properties notes that the building is surrounded by leading restaurants and retail. JLL Properties lists available square footage at the location. These descriptions reflect the commercial nature of the property, while the TDLR record specifically tracks the regulatory status of this specific interior renovation.