DALLAS — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here .

A Dallas firm plans to redevelop the historic 29-story Magnolia Building into a mixed-use space, dividing it between affordable housing and upscale hotel lodging.

Sycamore Development plans to spend $200 million, including property acquisition costs, to buy and redevelop the landmark property at 1401 Commerce St. , the developer told the Dallas Morning News.

Sycamore plans to add 130 mixed-income apartments to the property and reduce the hotel room count of the Magnolia from more than 320 to 160, according to the DMN. The apartments will include studio, one- and two-bedroom units, and more than half of the units will be income rest

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