Morgan Stanley's new Dallas hub will bring more than 3,800 jobs to the city by 2035, and the housing effect will build in phases rather than arrive overnight. Gov. Greg Abbott announced the $684 million investment on Monday, Sept. 28. Here's The Agency Dallas read on what the Morgan Stanley Dallas hub means for Dallas real estate.
The short version
- Where: Fountain Place downtown first, then a new tower at 2401 McKinney Ave. in Uptown.
- How many: About 1,500 jobs at Fountain Place by 2031, and 3,800 employees on the Uptown campus by the end of 2035.
- Who: Largely finance professionals, many relocating from higher-cost markets, with a strong interest in close-in neighborhoods and top schools.
Why Uptown keeps winning
Morgan Stanley's tower will stand less than a mile from Goldman Sachs' Dallas campus. Put together, these moves continue to make Uptown the center of what locals now call "Y'all Street." Each new firm makes the next decision easier. For homeowners nearby, that means a deeper pool of buyers who want to live close to work.
Where we expect demand to show up
Uptown high-rises. Walkable to the new tower. Expect the most interest from early transferees and younger professionals, especially in well-run buildings with strong amenities.
The Park Cities. Highland Park and University Park already have limited inventory. Families relocating for senior roles tend to prioritize Highland Park ISD, and a steady flow of new buyers adds pressure to a market where good homes already move quickly.
Preston Hollow and North Dallas. Buyers who want more land and privacy, with an easy Tollway drive to Uptown.
What this doesn't mean
It doesn't mean prices jump next month. Hiring happens over nearly a decade, and interest rates, inventory, and the broader economy will still set the pace. It also doesn't lift every neighborhood equally. The biggest effect should land closest to the office and in the school districts these buyers want.
The bigger picture
Dallas has been attracting financial firms for years, and Morgan Stanley's decision adds weight to that trend. A long runway of well-paid jobs is one of the healthiest foundations a housing market can have. For owners in the neighborhoods above, it's a reason for steady confidence.
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More in this series: Moving to Dallas with Morgan Stanley? Here's Where Your Commute, Schools, and Weekends Line Up and Thinking of Selling Your Dallas Home? What Morgan Stanley's Move Means for You.
Frequently asked questions
How many jobs is Morgan Stanley bringing to Dallas?
Morgan Stanley's new Dallas hub is expected to bring more than 3,800 jobs, according to Gov. Greg Abbott's Sept. 28, 2026 announcement. About 1,500 of those roles are planned at Fountain Place downtown by 2031, and the firm expects 3,800 employees on its new Uptown campus by the end of 2035.
Where will Morgan Stanley's Dallas offices be?
The firm is opening in two phases. First comes about 255,000 square feet at Fountain Place, 1445 Ross Ave., in downtown Dallas, for roughly four years. The permanent home is a new Trammell Crow tower of about 709,000 square feet at 2401 McKinney Ave. in Uptown, less than a mile from Goldman Sachs' Dallas campus.
Will Dallas home prices jump because of the Morgan Stanley hub?
Not overnight. Hiring happens over nearly a decade, and interest rates, inventory, and the broader economy will still set the pace. The Agency Dallas expects the Morgan Stanley Dallas hub's biggest effect on real estate to land closest to the Uptown office and in the school districts relocating families want, not evenly across every neighborhood.
Which Dallas neighborhoods are likely to see the most demand?
We expect interest in three places. Uptown high-rises are walkable to the new tower. The Park Cities, Highland Park and University Park, already have limited inventory and draw families focused on Highland Park ISD. Preston Hollow and North Dallas appeal to buyers who want more land and privacy with an easy Tollway drive to Uptown.
How much is Morgan Stanley investing in Dallas?
The governor's office put Morgan Stanley's capital investment at $684 million, backed by a Texas Enterprise Fund grant of about $43.8 million. The City of Dallas offered an $18.5 million incentive, according to KERA. Those commitments support the interim Fountain Place office downtown and the permanent Uptown tower at 2401 McKinney Ave.
