Exclusive: Jack Matthews puts historic Dallas High School under contract for redevelopment

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Courtesy of Aerial Photography Inc.

An aerial view of the historic Dallas High School in downtown Dallas, which sits adjacent to a DART rail station. The property is under contract by longtime Dallas developer Jack Matthews.

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Candace Carlisle

Staff Writer- Dallas Business Journal

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Dallas developer Jack Matthews has placed one of downtown Dallas' most significant redevelopment opportunities — the historic Dallas High School — under contract, with plans for a massive redevelopment.

The 107-year-old high school sits adjacent to the Dallas Area Rapid Transit Pearl Street station, and Matthews has been eyeing the property for months.

"We like the site and we expect to close on it early in the New Year," Matthews told the Dallas Business Journal in an exclusive interview Thursday morning. "We are evaluating a number of options to find what's best for the site and what's best for downtown Dallas."

Matthews declined to disclose the redevelopment options of the historic Dallas High School. Previous plans by other development firms on the property have included a large apartment complex surrounding the historic structure, as well as a corporate office building.

If there's anyone who can redevelop the historic building that's been vacant for decades, it's Matthews, said John Crawford, president and CEO of Downtown Dallas Inc., citing the success of Matthews' previous developments and redevelopments in downtown Dallas, which includes the Omni Dallas Hotel and the South Side at Lamar.

Terms of the deal under contract were undisclosed. The Dallas Central Appraisal District values the historic Dallas High School property at 2214 Bryant St. at $8.3 million.

For the past few years, Dallas-based Wynne/Jackson Inc. has looked at the property with redevelopment plans for a large apartment complex, but was unable to get the numbers to work for the project.

Candace covers commercial and residential real estate and sports business.