Historic Tax Credit-Supported Redevelopment Opportunity — 601 Elm Street (The Purse Building) A century-old landmark in Downtown Dallas, the Purse Building is a rare, once-in-a-generation redevelopment opportunity. Built in 1905 for the Parlin & Orendorff Implement Company, this six-story red brick warehouse has stood as an enduring piece of Dallas’ architectural and commercial history. With exposed brick, tall ceilings, oversized industrial windows, and panoramic skyline views, the building offers the ideal framework for adaptive reuse. Its historic character and prime location make it well-suited for: Boutique hotel or hospitality concepts Multi-family or condo conversion Creative office space Flagship single-user destination Located in the heart of the West End Historic District—steps from the $3B Dallas Convention Center redevelopment and iconic Dealey Plaza—the Purse Building blends unmatched walkability with transformative potential. Financial Advantage Redevelopment benefits from a combined 45% historic tax credit package, including: 20% Federal Historic Rehabilitation Tax Credit 25% Texas State Historic Preservation Tax Credit Together, these credits substantially reduce redevelopment costs while safeguarding the building’s historic integrity.