Downtown News

You could own this darling historic building in downtown Dallas

This Purse Building could be yours.

Courtesy photo

A unique and historic building in downtown Dallas is up for grabs: The Purse Building, ideally situated across the street from Dallas' No. 1 tourist destination Dealey Plaza, is now for sale.

The building is located at 601 Elm St., and has been restored to its former glory by owner Tanya Ragan of Wildcat Management, who has owned it for nearly a decade.

Built in 1905, it has six stories and a total of 65,000 square feet of office or multi-family space. It was built in a "Chicago Italianate" style and features:

original century-old pine wood floors
brick walls
floor-to-ceiling windows
modern fixtures and aesthetics

Beyond its own stunning features, it has an optimal location across the street from Dealey Plaza and the Book Depository, a tourist destination that sees nearly 7 million visitors annually.

According to the listing, the building has been completely stripped to reveal the original flooring and walls. "A new owner can finish out an amenity roof deck of up to 3,300 square feet. The site is zoned CA-1, central area district 1, within a Historic Landmark Overlay District and falls within the City Center TIF District allowing for tax incentives & abatements. It's located in a prime Dallas CBD location, with heavy traffic counts, convenient public transportation and nearby retail and attractions," the listing says.

The release notes that the building was commandeered by the FBI and served as headquarters while they were investigating the assassination of John F. Kennedy. It had been vacant for 30 years before its renovation and is listed on the National Register of Historic Places.

Wildcat Management has championed urban pioneering, and its renovation of the Purse Building helped spur a reactivation of the West End, with new apartments, restaurants, business and government offices creating a renaissance in the neighborhood. It's also this-close to the DART rail.

In a statement, Ragan, who is currently working on a new project in Mansfield called Castle Ranch, calls the Purse Building her "pride project."

"What a phenomenal feeling that the legacy of Wildcat’s role in this extraordinary landmark will continue on as a vibrant part of the city I love," she says.

Marcus & Millichap’s Joe Santelli and Matthew Sheard are the brokers representing the Purse Building at 601 Elm Street in downtown Dallas. They don't list the price but in this realm, this is one of those things where if you have to ask, you probably can't afford it. For information, call 972-755-5282.

downtown sustainability home-for-sale

GP News

Grand Prairie expands to the south with new master-planned community

Rendering courtesy of Provident

Goodland Grand Prairie

The City of Grand Prairie is growing fast and expanding to make way for a new master-planned development south of US Highway 287 and along Tollway 360, in Ellis and Johnson counties.

The community development, called Goodland, is the result of Grand Prairie’s recent 1,500-acre annexation extending its southern border toward Mansfield. Overall, with the added land, Goodland will be a 5,000-acre site featuring 15,000 residences including townhomes, custom homes, and gated communities for 50,000 residents.

According to a release, it will be a “city within a city” and a 45-minute drive from Dallas-Fort Worth. Beyond housing, there will be shops, restaurants, schools, public and private event venues, regional sports fields and complexes, dance halls, churches, trail systems, city parks, ponds, and preserved green spaces.

“This is a significant step in our city’s development,” says Grand Prairie Mayor Ron Jensen in a statement. “Unlike many of our neighboring cities, we have the unique advantage of new development opportunities to our south that will drive the growth and prosperity of our city. We recognized the opportunity and took decisive action.”

Leading the development is Provident, a Dallas-based real estate firm that has created other master-planned communities across Dallas-Fort Worth, such as Preston Hollow Village and Hillstead in Collin County. Provident has plans to work nature into the space design with more than 1,600 acres of creek corridors and floodplain land.

Plans are ongoing for a centralized mixed-use walkable Town Center, complete with civic buildings and other commercial development. Further south on the property near Highway 67, light industrial uses and other private employment campuses are already underway, projects that will contribute vital tax dollars for city growth and future expansions.

“This level of placemaking is quite rare, and certainly not easy to execute, especially in a brand-new community," says Provident Managing Director Rylan Yowell in a statement. "We are committed to a long-term vision with a desire to be good stewards of the land."

A new four-lane road called Goodland Parkway will link Goodland to Grand Prairie at Tollway 360 and US Highway 287. It's set to open by December 2025.

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