News Article | 2/8/2007

PlainsCapital heads to Victory project

Dallas’ Victory project has signed a second major tenant to kick off its office development program.

PlainsCapital Corp. is leasing more than 48,500 square feet in the 20-story One Victory Park Building for a retail bank and its holding corporation headquarters.

The office tower, the first of two planned, is under construction at the northwest edge of downtown at Lamar Street and Victory Avenue.

Victory officials see the lease deal as a coup for the 75-acre development.

“We want to be the premier address for the best professional services firms and financial institutions in the city, and this is another step toward that goal,” said Jonas Woods, president of Victory developer Hillwood Capital. “And as you know, these firms like to cluster with one another, so this is a huge step.”

PlainsCapital joins law firm Haynes and Boone as the first tenants in the 456,000-square-foot office project, which will open in mid-2008.

Dallas architect BOKA Powell designed the high-rise, which is being built by Austin Commercial.

The building is being developed by Houston developer Hines in partnership with Victory’s builders.

It’s across the street from the 28-story House condo tower, which is also under construction.

PlainsCapital was founded in Lubbock and has several operations in Dallas, including the headquarters on Turtle Creek, which will move to Victory.

The financial services and banking firm expanded into the Dallas market in 1999.