Overview
- City and state officials confirmed Monday that Morgan Stanley selected 2401 McKinney Avenue in Uptown Dallas for its permanent regional hub.
- The Texas Enterprise Fund approved a nearly $44 million grant and the state offered a $40,000 veteran job bonus to help close the deal.
- The City of Dallas approved an $18.5 million economic development grant and two tax abatements tied to project milestones and phases.
- Morgan Stanley has a temporary 255,000‑square‑foot lease at Fountain Place to start regional operations while it plans a roughly 700,000‑square‑foot Uptown tower, with a permanent lease slated to begin in 2031 and a workforce target of about 3,800 employees by the end of 2035.
- Reports say Morgan Stanley will invest roughly $684 million in the campus and developer Trammell Crow expects to spend about $650 million building the tower, a move that both highlights Uptown’s tight office market and could raise demand for jobs, housing, and local services.