Why is Maxwell Drever spending $240M to save an iconic Dallas skyscraper?

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Rendering of the planned remodel of The First National Bank tower in downtown Dallas. Rendering of The Drever via the Dallas Morning News.

By Steve Brown and the Dallas Morning News

Maxwell Drever likes to garden.

The California real estate investor doesn’t mind getting a little dirt under his fingernails to make something bloom.

“I’m a master gardener — I love taking gardens and making them really spectacular,” Drever said. “I love restoring gardens.

“And I love restoring buildings, too.”

In downtown Dallas, he’s cultivating one of his largest projects ever, turning an empty 52-story skyscraper into a city in itself.

Drever and his firm will spend almost two years converting the half-century-old former First National Bank tower into a combination of apartments, retail, hotel rooms and parking. The developers recently released updated plans for the more than $240 million project plus a new name for the tower: The Drever.

Drever Capital Management bought the marble and glass high-rise out of bankruptcy earlier this year. Read More >