Cousins Invests in Dallas Morgan Stanley Venture

Trammell Crow has taken on Cousins Properties as a partner in the $1.3 billion Morgan Stanley highrise in Dallas. Cousins invested $50 million into project, which is designated for buying the parcel and some pre-development costs. Groundbreaking for the project is slated for 2027.

The Dallas Business Journal reports that Trammell Crow is in “advanced predesign” of the 700,000-square-foot tower.

Site work has begun with the demolition of the former Gold’s Gym at 2425 McKinney Ave.

The Dallas City Council⁠ okayed an $18.5 million incentives deal and additional tax breaks for Morgan Stanley in June. Texas came up with a $43.85 million state grant from the Texas Enterprise Fund⁠.

Until its Uptown tower is complete, Morgan Stanley will maintain a temporary office out of Fountain Place at 1445 Ross Ave. in downtown.