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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

    millennial movers

    More millennials bought homes in Dallas than nearly any other metro in 2024

    Amber Heckler
    Jul 18, 2025 | 2:45 pm
    Homebuying
    Photo by Tierra Mallorca on Unsplash
    More than 26,000 adults aged 25-44 bought homes in San Antonio-New Braunfels last year.

    Dallas is turning into a haven for millennial homebuyers, a new SmartAsset housing study has found. Nearly 56,000 millennials purchased homes in the Metroplex in 2024.

    The report, "Where Millennials Are Buying Homes – 2025 Study," analyzed mortgage origination data across 41 of the largest U.S. metros, ranking them based on the percentage of local people aged 25-44 who purchased a home in 2024. As a note, the study only observed conventional mortgages and not FHA, USDA, or VA loans.

    The study found Dallas-Fort Worth-Arlington had the second-highest number of millennial homebuyers in the U.S. last year, with a total 55,732 mortgages originated in the metro.

    That's about 6,100 fewer mortgages than Houston-Pasadena-The Woodlands, which had the No. 1 highest rate of millennial home purchases nationwide in 2024, adding up to 61,826 mortgages.

    The median property value of a DFW home purchased by a millennial in 2024 came out to $455,000, and the median income of a millennial homeowner was $142,000, according to the report.

    Millennial Dallasites already dread being locked in as renters for the rest of their lives, and one surprising statistic found in the report backs up that fear: Only 2.33 percent of all DFW millennials bought homes last year. Furthermore, Dallas-Fort Worth placed 30th in the report's overall ranking of U.S. metros with the highest percentage of millennials who purchased homes in 2024.

    For additional context, the No. 1-ranking metro was Raleigh-Cary, North Carolina with 4.5 percent of local millennials securing a mortgage last year. However, that percentage only represented 19,735 mortgages originated in 2024.

    SmartAsset said U.S. metros with a high rate of millennial homebuyers may show desirability within the area's job market, housing market, and its local economy.

    "In some places, 1 in every 25 residents between the ages of 25 and 44 purchased a home with a conventional mortgage just in 2024 alone," the study said. "In other major metros, less than 1 in 100 Millennial-aged residents last year. This disparity can cause divergent implications for local infrastructure, politics, and business demand among different metros."

    Here's how many mortgages that were secured by millennials in Texas' other major metros in 2024:

    • Houston-Pasadena-The Woodlands – 61,826 mortgages
    • Austin-Round Rock-San Marcos – 27,196 mortgages
    • San Antonio-New Braunfels – 26,337 mortgages
    smartassetreportshousing marketreal estatemortgagehome salesdallasfort wortharlington
    news/real-estate
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