Dunhill Partners has big plans for newly bought Design District properties

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Lance Murray

Dunhill Partners has bought a large number of properties in the Design District northwest of downtown Dallas.

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Lance Murray

Digital Content Producer- Dallas Business Journal

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A large portion of Dallas' Design District has been bought by a group of investors led by the Dallas real estate firm Dunhill Partners.

The Dallas Morning News reported the Dunhill Partners includes oilman Tim Headington and the owners of Highland Park Village.

The partnership has bought 33 acres and roughly 700,000 square feet of buildings along Oak Lawn Avenue, Hi Line Drive and Stemmons Freeway, the newspaper said. The area is northwest of downtown Dallas.

The buildings will be marketed to high-end designers and other tenants, the Morning News said, and eventually, some of the property will be redeveloped for high-rise construction.

"We are going to take what's there and reinvigorate it and keep it going," Dunhill CEO Bill Hutchinson told the Morning News.

Dunhill bought the properties -- totaling more than a dozen -- from Houston investor Lionstone Group, which bought them in 2007, the Morning News said.

Lionstone and its Dallas partner, Mike Ablon, transformed the onetime industrial and commercial area into one that has a mix of trendy eateries, retail and high-end apartments, the newspaper said.

The Morning News said that at least three large apartment developments are being planned for the Design District.

Lance Murray edits and writes for the DBJ's website and can be reached at 214-706-7106. Subscribe to our email newsletters.