Historic Tax Credit-Approved Redevelopment Opportunity — 601 Elm Street (The Purse Building) A century-old landmark in Downtown Dallas, the Purse Building represents a rare, once-in-a-generation redevelopment opportunity. Constructed in 1905 for the Parlin & Orendorff Implement Company, this six-story red brick warehouse stands as a lasting testament to Dallas’ architectural and commercial history. Featuring exposed brick, soaring ceilings, oversized industrial windows, and panoramic skyline views, the building provides an ideal canvas for adaptive reuse. Its historic character and prime location make it well-suited for: Boutique hotel or hospitality concepts Flagship single-tenant destination Situated in the heart of the Government District—just steps from the $3B Dallas Convention Center redevelopment and iconic Dealey Plaza—the Purse Building combines unparalleled walkability with significant redevelopment potential. Financial Advantage Redevelopment of the Purse Building benefits from approved historic tax credits, including: 20% Federal Historic Rehabilitation Tax Credit 25% Texas State Historic Preservation Tax Credit These approved credits, totaling 45%, significantly reduce redevelopment costs while ensuring the building’s historic integrity is preserved.