By DRC Communications
Estimated reading time: 1 minute
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Morgan Stanley has made it official: The global financial services firm will establish a new U.S. hub in Dallas, with plans for a new office tower in Uptown.
The company plans to invest $684 million and create more than 3,800 jobs by the end of 2035, according to the Office of the Texas Governor. Trammell Crow Company is expected to invest an additional $650 million in the development of the new tower, bringing the total value of the project to approximately $1.2 billion.
Beginning in March 2025, the DRC supported the firm’s evaluation of the region with research and regional insights, introductions to key partners and coordination throughout the site selection process.
“When the Dallas Regional Chamber first met Morgan Stanley more than 18 months ago, what stood out was the depth and sincerity of their investigation,” said Brad Cheves, President and CEO of the DRC. “They were focused on understanding the region’s talent, growth patterns, infrastructure, quality of life, business conditions and long-term trajectory.”
Cheves said the firm was interested not only in the Dallas Region’s current strengths, but in understanding how the region has grown and where it is headed.
“Morgan Stanley’s investment and the thousands of jobs it is expected to support represent a significant vote of confidence in the future of North Texas,” Cheves said. “Just as importantly, the way they approached this process indicates they will be a strong, long-term partner in our community.”
The project is the latest major financial services investment in the Dallas Region and adds to the concentration of financial institutions around Uptown, Victory Park and the McKinney Avenue corridor, an area increasingly associated with the region’s “Y’all Street” momentum.
“This announcement is a reminder that major economic development wins happen when public and private sector partners work together,” Cheves said. “We are grateful to Governor Abbott, the State of Texas, the City of Dallas and the business leaders and partners who helped showcase the strengths of this region.”