Thursday, December 22, 2016

Downtown Dallas’ landmark post office apartments change hands

Photo published for Downtown Dallas’ landmark post office apartments change hands | Real Estate | Dallas News

A downtown Dallas landmark development has quietly changed owners.
In 2011 the upper four floors of downtown's historic Post Office and United States Court House building at 400 Ervay Street were converted into luxury apartments.
Developer Shawn Todd who created 78 rental homes in the post office said Thursday that he's sold the project to an out-of-state investor.
"It never went to market but we sold it," Todd said. "We are thankful we were able to build the project.
"We were able to preserve the building's architectural heritage."
Along with the apartments, two courtrooms that were used by legendary jurist Sarah T. Hughes and as a tax court have been preserved as public lounge and entertainment areas for the apartment residents.
There's a 20,000-square-foot roof terrace at the building.
The rental units average around 800 square feet.
"We leased the whole building in 90 days," Todd said. "It's been very well leased product from the beginning."
Terms of the apartment sale were not disclosed.
Todd said he's signed a long-term lease to keep his business office in the building.
The U.S. Postal Service continues to use a big chunk of the ground floor as a retail mail outlet.
A model unit of the rental apartments at he  Post Office and U.S. Courthouse on Ervay Street in Dallas. DMN files
A model unit of the rental apartments at he  Post Office and U.S. Courthouse on Ervay Street in Dallas.  
DMN files