Friday, November 08, 2013

Deal is moving ahead to redevelop downtown Dallas’ historic Statler Hilton

The Statler Hilton has been vacant for more than a decade. (DMN files)
Developer Mehrdad Moayedi has committed to redeveloping downtown Dallas’ historic Statler Hilton Hotel building.
After putting the building under contract back in September, Moayedi’s Centurion American Development Group has signed a nonrefundable agreement to purchase the vacant 19-story building on Commerce Street.
“We are trying to close the purchase in March or April,” Moayedi said Thursday.
The 57-year-old Statler Hilton is one of the last large derelict buildings in Dallas’ downtown. Coming up with a reuse for the property has long been a goal of both city leaders and preservationists who want to save the mid-Century building.
“It’s an iconic building,” Moayedi said. “This property can be a hub for downtown.”
The once opulent hotel sits across the street from the Main Street Garden park and is surrounded by other old downtown buildings, which have been converted into residential space.

By Steve Brown