Friday night is the end of an era in Dallas' historic West End, where the legendary Palm restaurant is serving up its last steak dinners after more than three decades.

Meanwhile, owners of other businesses in the district say the West End is booming.

"The West End has always been cool. It's just been under-the-radar cool," said Joe Groves, co-owner of nearby Ellen's. "Now it's suddenly becoming a powerhouse."

Groves quickly expanded after opening the restaurant in October 2012.

"In the last five years, we've seen businesses come in, it's turned into a tech corridor," Groves said.

Historic buildings throughout the West End are being renovated, fueled by $150 million in new investments over the past two years.

"The building we're in above us is completely occupied, primarily with high tech, advertising, internet-based companies, a young crowd of employees. The base is really energetic and creative," Groves said.

"There is a lot of growth, a lot of people are coming back down here," said leasing consultant Kevin Willms. "Shops and restaurants are opening up, got the new apartment building here that opened about a year ago, so people are excited to come down here again."

After being vacant for years, the newly renovated West End Marketplace will open this summer.

Now called Factory 603, approximately 800 Blue Cross Blue Shield employees will work there among other office tenants.

"We've seen companies like Blue Cross Blue Shield move in, Uber, Snapchat. So you're really seeing the West End come back in a new and different way," said Kortny Garrett, executive vice president of Downtown Dallas, Inc.

Factory 603 will open later this summer, and before the end of the year, the Dallas Holocaust Museum will break ground on a new state of the art building in the Historic West End.