601 Elm Street (The Purse Building) – Redevelopment Opportunity | Downtown Dallas A century-old Dallas landmark offering a rare, tax-credit-approved redevelopment opportunity in the heart of downtown. Built in 1905, the six-story Purse Building features red brick architecture, exposed interiors, and sweeping skyline views — the perfect canvas for a boutique hotel, hospitality concept, or flagship single-user destination. Located in the Government District, steps from Dealey Plaza and the $3B Dallas Convention Center redevelopment, this property combines walkability, visibility, and unmatched historic character. Financial Advantage: Redevelopment is approved for 45% total historic tax credits — 20% Federal and 25% Texas State — substantially reducing project costs while preserving the building’s legacy. ***Brokers Welcome*** We pay all commission fees.