Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
WILLIAMS J MCDONALD
   2. Issuer Name and Ticker or Trading Symbol
TRAMMELL CROW CO [TCC] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
2001 ROSS AVENUE, SUITE 3400		 3. Date of Earliest Transaction (Month/Day/Year)
03/07/2005
(Street)

DALLAS, TX 75201		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/07/2005   G V 54,000 D (1) 565,395 (2) D  
Common Stock 05/18/2005   M   1,988 A $ 0 567,383 (2) D  
Common Stock 05/18/2005   D   1,988 D $ 22.64 (3) 565,395 (2) D  
Common Stock               2,184 I By 401(k)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Performance Units (4) 05/18/2005   A   1,988   05/18/2005   (5) Common Stock 1,988 $ 0 1,988 D  
Performance Units (4) 05/18/2005   M     1,988 05/18/2005   (5) Common Stock 1,988 $ 0 0 D  
Stock Option (right to buy) $ 9.74             05/21/2003 05/21/2010 Common Stock 9,719   9,719 D  
Stock Option (right to buy) $ 13.9             05/24/2002 05/24/2009 Common Stock 6,200   6,200 D  
Stock Option (right to buy) $ 10.2             05/25/2001 05/25/2008 Common Stock 6,092   6,092 D  
Stock Option (right to buy) $ 17.44               (6) 05/05/2009 Common Stock 4,232   4,232 D  
Stock Option (right to buy) $ 18.06               (7) 02/17/2009 Common Stock 5,601   5,601 D  
Stock Option (right to buy) $ 17.5               (8) 11/24/2007 Common Stock 20,483   20,483 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
WILLIAMS J MCDONALD
2001 ROSS AVENUE
SUITE 3400
DALLAS, TX 75201		   X      

Signatures

 /s/ J. McDonald Williams   05/18/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) No price was designated for the securities that were disposed of because they were transferred pursuant to a gift.
(2) Includes 2,646 shares acquired under Issuer's Employee Stock Purchase Plan.
(3) Represents settlement of Performance Units for cash as described in Footnote 5 below. Price listed is the fair market value of Trammell Crow Company common stock on the settlement date.
(4) Each performance unit may be settled for one share of common stock.
(5) The units may be settled (a) in cash or in the Issuer's common stock, (b) in a single lump sum or in annual installments of up to five years and (c) upon the reporting person's termination of employment of service, completion of a stated number of years or a date specified by the reporting person.
(6) The options vested in four equal annual installments beginning on 5/5/00.
(7) The options vested in three equal installments beginning on 2/17/00.
(8) The options vested in three equal annual installments beginning on 11/24/98.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.