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Frost Bank Plans $22M Harwood Office Upgrade

Frost Bank is planning to spend $22 million to upgrade three floors of its Dallas office space at Harwood No. 7.

Updated on Nov. 6, 2026 in Commercial

A mid-rise glass and stone office tower rises above an empty concrete plaza and young trees under flat daylight in Dallas.
Frost Bank plans to spend $22 million upgrading three floors of its Harwood No. 7 office space in Dallas, filings show. AI Illustration. Upload story photo >

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Frost Bank is sizing up spending $22 million to upgrade its space at Harwood No. 7 in Dallas's Harwood District. The upgrade covers three floors and will bring the bank's space in the building to 62,000 square feet.

Why it matters

The project reflects continued investment in premium office space in Dallas as the bank expands its regional footprint. It also coincides with TPG's plan to upgrade its five-tower Harwood District portfolio to Class AA status.

The planned spending totals $22 million across three floors, or roughly $7 million per floor, at Harwood No. 7, which has 167,000 square feet across 22 floors. Figures come from preliminary Texas Department of Licensing and Regulation filings, and the final cost has not been confirmed.

The players

Frost Bank

Frost Bank is a San Antonio-based bank that has opened about 70 branches since 2018 and is expanding its Texas retail and office footprint.

TPG

TPG is a Fort Worth-based investment firm that is upgrading its five-tower Harwood District portfolio to Class AA status.

The details

Filings with the Texas Department of Licensing and Regulation indicate the plan to overhaul three floors, and the expansion also adds space on a fourth floor. Frost Bank's expansion will cover over a third of the building's total square footage.

Timeline

  1. - Last year: Harwood No. 7 sold and was appraised for $84 million.

  2. - 2025: Frost Bank opened new locations in Kerrville and Fredericksburg.

  3. - Earlier in 2026: TPG announced its five-tower Harwood District upgrade investment.

  4. - Q3 2026: Frost Bank reported $179 million in third-quarter profit, up from $173 million a year earlier.

  5. - January 2027: Construction on the office upgrades is expected to begin and finish by next May.

Market Landscape

The upgrade follows TPG's investment to bring its five Harwood District towers to Class AA status, pointing to a broader push to modernize premium office space in the district. Frost Bank's expansion into a large share of Harwood No. 7 shows how major tenants are competing for top-tier space in Dallas.

For Dallas workers and visitors, the upgrade signals more premium office options in the Harwood District as tenants compete for top-tier space. The project may also affect building access and traffic during the expected January-to-May construction period.

The takeaway

Dallas's premium office market is attracting major tenants and investors, so business owners weighing a lease or relocation should track which Harwood District towers are being upgraded. Watching construction timelines can help time decisions around space availability.

What happens next

Construction on the upgrades is expected to begin in January and be completed by next May, though final costs are expected to be lower than the original estimate.

Further reading

Explore more Dallas commercial real estate coverage to see how office projects like this one fit into the city's market.

Source note: This article includes information reported by The Real Deal New York.

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