Friday, October 31, 2014

Old candy factory near downtown Dallas sold for loft apartment project

The Hughes Candy Factory building opened in 1903. (DMN files)
A historic building south of downtown Dallas has sold to a Kansas City-based development group with a track record of landmark restoration.
The 111-year-old Hughes Brothers Candy Factory building on Ervay Street south of Interstate 30 was purchased by Flint Hills Holdings Group.
Flint Hills Holdings purchased the 5-story vacant commercial building from Arlington-based real estate firm SkyWalker Property Partners, which owned the property for about a year.
Skywalker Property had planned to spend several million dollars converting the former manufacturing building into residential units.
Clint Holland said the new owner approached his firm about acquiring the property and they decided to sell. He said Flint Hills Holdings plans to move ahead with the loft apartment plan.
“They have a lot more experience in projects like this,” Holland said.
Scott Lake with Venture Commercial brokered the sale.
Over the years the red brick building had a variety of uses, including an ice cream cone manufacturing plant.
It was also owned by Frieda Bosh, the mother of Miami Heat basketball star Chris Bosh.
Built in 1903 for $50,000, the property has been prized by preservationists.
It’s right across the street from the landmark Ambassador Hotel and is near where investors are working on several other building renovation projects.