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    Downtown News

    Dallas Morning News building gets bought by Highland Park Village owner

    CultureMap Staff
    May 17, 2019 | 6:27 pm
    Dallas Morning News
    Facade of building at 508 Young St.
    Courtesy photo

    A. H. Belo Corporation, which owns the Dallas Morning News, has sold the former campus of the newspaper at 508 Young St. in downtown Dallas to Charter DMN Holdings, LP for a purchase price of $28 million.

    Charter Holdings is a Dallas-based real estate entity owned by Ray W. Washburne, entrepreneur and commercial real estate developer who most recently was president of the U.S. government’s Overseas Private Investment Corporation.

    He also owns Highland Park Village, as well as a stake in the Mi Cocina restaurant chain.

    According to a release, the price comprises $5.6 million in cash paid at closing on May 17, and a two-year seller-financed promissory note of $22.4 million.

    The promissory note bears interest payable in quarterly installments beginning July 1, 2019, continuing through its maturity on June 30, 2021, and includes a pre-payment feature. Taking into consideration the interest on the note and the elimination of carrying costs for the Company, the total realizable value of the transaction is approximately $31.6 million over two years.

    Belo has been struggling to find a buyer for the 7.2-acre property since 2017, wooing candidates such as the high-speed train, Amazon, and Dallas businessman Mike Hoque, who offered $33 million before backing out.

    A. H. Belo CEO Robert W. Decherd said in a statement that "we are very pleased to conclude the sale process related to the 508 Young Street campus, and consider Charter DMN Holdings to be an outstanding owner and future developer of this important site that was the Company’s home for almost 60 years."

    media
    news/real-estate

    HAUTE PROPERTIES

    New Port Aransas luxury beach cottages come with their own water park

    Brandon Watson
    Feb 23, 2026 | 9:11 am
    Spoonbill Bay
    Spoonbill Bay/ Facebook
    A splashy waterpark will be the centerpiece of Spoonbill Bay.

    If thoughts of spring break have North Texans yearning for a beach vacation, an upcoming Port Aransas development may provide some inspiration — or at least a few daydreams. Spoonbill Bay is currently under construction on Mustang Island, promising ocean views and a slew of fun amenities.

    Future residents of the community, located bayside of State Highway 361, are in for some splashy fun. State regulatory records reveal that Spoonbill Bay will soon begin work on a water park that will have multiple pools, a lazy river, a splash pad, an amusement park-style slide tower, sunning decks, and cabanas.

    “This is what Phase One will be like when we open in May 2026,” said Alex Harris, owner and CEO of Brite Star Construction, in a Facebook post. “Children’s water slides and water playground, large family pool with a swim-up bar, second-floor pavilion for relaxing and parties, tiki bar with lots of TVs, and a full assortment of food at the entry building.”

    Spoonbill Bay Residents can enjoy their own private lap pools.Spoonbill Bay/ Facebook

    Surrounding the aquatic park will be several white cottages built in Lowcountry style with raised foundations, porches, and large windows to take in the Coastal sun. The two- to three-bed homes come in a variety of floor plans with their own private lap pools.

    Spoonbill Bay closes a gap in Port Aransas’ luxury vacation home market. Although the city is speckled with several ultra-high-end properties, the development provides a less expensive gateway to island living. The 916 to 1,284 square feet cottages start at $500,000, a hair below the area’s almost $600,000 median home price, according to Zillow.

    Some of the homes have already been completed, and the full construction is expected to wrap up in 2026. Texas Department of Licensing and Regulation filings say the water park will be finished by late June, although timelines are always subject to change.

    Spoonbill Bay
    Spoonbill Bay/ Facebook
    A splashy waterpark will be the centerpiece of Spoonbill Bay.
    real estateport aransasmustang islandhomes for salebeachvacationdevelopment
    news/real-estate
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