Tuesday, October 19, 2021
75 F
Fort Worth

Arlington firm sells historic Dallas building for redevelopment

🕐 2 min read

An Arlington real estate firm has sold the 111-year-old Hughes Brothers Candy Factory in Dallas to a Kansas City-based development group that focuses on restoration projects. SkyWalker Property in Arlington was planning to convert the five-story building, bought just one year ago, to residential units when Flint Hills Development Group made an offer to buy the site. “Flint Hills Development Group has experience redeveloping projects with national and state historic tax credits and wanted to take on this project,” Clint Holland, acquisitions director for SkyWalker. “We are pleased the buyer appreciates and understands preservation.” Christopher Gibbons of Venture Commercial represented the buyer.

The property’s address, 1401 S. Ervay St., is in the Cedars neighborhood on the south side of downtown Dallas. “The location and robust redevelopment activity in the Cedars neighborhood clearly worked to our investors’ advantage,” he says. “The offer was such that it made sense to sell.” The Hughes Brothers’ candy factory opened in 1903 and closed during the Great Depression, later becoming a production site for ice cream cones. The building was closed.

The property’s potential for residential use became evident with the area’s gentrification into a busy mixed-use corridor. Because it is a historic property, there is additional opportunity to tap into tax credits, including the recently enacted Texas Historic Preservation Tax Credit Program and a sales tax exemption on labor that’s available for work on any building listed on the National Register for Historic Places. SkyWalker Property, led by managing partner Gary Walker, is no strager to adaptive reuse project. It has completed one adaptive reuse project of a historic property – the former Vandergriff Chevrolet dealership built in 1927 at 255 N. Center St. in downtown Arlington. Now a multi-tenant office and retail property, the Vandergriff Building also serves as SkyWalker Property’s headquarters and the main office for its affiliate, Coldwell Banker Commercial Alliance DFW. – Robert Francis  

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Related Articles

Our Digital Sponsors

Latest Articles

Texas Rangers
Fort Worth Business Press Logo
This advertisement will close in
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate