Dallas Property Investment

If nothing else, a new residential tower going up in Dallas is in esteemed architectural company. The Museum Tower, a 42-story condominium project, is part of the city’s rapidly growing Arts District, which includes the work of four Pritzker Prize-winning architects: the Renzo Piano-designed Nasher Sculpture Center; the Meyerson Symphony Center designed by I.M. Pei, the Winspear Opera House planned by Sir Norman Foster and Rem Koolhaas’ Wyly Theater.

The Museum Tower’s developers are hoping the work of the A-list architects in the neighborhood will help give the project a bit of international vibe, which is rare in Dallas. “It’s a validation for Dallas to deliver an internationally important high-rise,” said John Sughrue, CEO of Brook Partners, Inc., co-developer of Museum Tower.

Sughrue plans to actively market the project in Mexico, a first for his company. A recent study by the National Association of Realtors found Mexicans were the largest group of international buyers in the United States and nearly a third of them bought in Texas.

“We want to tap into that Mexican affluent community that is doing business here,” Sughrue said.

In keeping with it architectural neighbors, Museum Tower, which is designed by Scott Johnson of Los Angeles-based Johnson Fain, will feature a modern frame wrapped by curving glass “sails.” Scheduled for completion in 2010, it offers 125 residential units, ranging from 1,450-square-feet (135 square meters) to an 8,700-square-foot penthouse (808 square meters), with prices beginning at about $1 million (€684,000).