Neiman Marcus' flagship store in Downtown Dallas might not be closing after all. On Wednesday, Downtown Dallas Inc. announced that a parcel of land the historic building stands on will be donated to the city when the department store's ground lease expires on March 31.

The downtown Neiman Marcus store can stay open under a new deal after pressure from Dallas city and business leaders to save the century-old retail site. A local business group said it brokered a deal to keep the iconic downtown department store at its current site on Main Street,

Dallas leaders and stakeholders say the soon-to-close Downtown Dallas Neiman Marcus location is too valuable to lose over a ground lease dispute.