Developers Secure Final Piece of Former Greyhound Site
Full ownership of the Dallas lot clears the way for a planned entertainment district and hotel development.
Updated on Oct. 28, 2026 in Commercial
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Developers Ray Washburne and Jack Matthews have secured the final parcel of the former Greyhound station in downtown Dallas. This acquisition grants them full ownership of the 26,000-square-foot site, a key component for future urban revitalization efforts.
Why it matters
Consolidating ownership of this site is essential for downtown redevelopment, particularly as it neighbors the massive project planned for the Kay Bailey Hutchinson Convention Center. This shift aims to boost the city core as local infrastructure projects continue to evolve.
The final 10,000-square-foot parcel completes the 26,000-square-foot site located at 205 South Lamar Street and 804 Commerce Street. This acquisition follows earlier major local real estate activity, including the $52 million sale of a portion of the former Dallas Morning News building.
The players
Ray Washburne
A prominent local developer known for his involvement in major downtown Dallas commercial real estate projects.
Jack Matthews
A lead developer managing the large-scale renovation of the Kay Bailey Hutchinson Convention Center.
The details
The developers aim to transform the former station site into an entertainment district, with plans for a new hotel offering 350-400 keys at 508 Young Street. This strategy complements the nearby $3 billion renovation of the Kay Bailey Hutchinson Convention Center, which involves rotating the main building 90 degrees and extending the structure to increase capacity.
Timeline
October 2024: Ray Washburne purchased the Greyhound station site.
2025: The Greyhound station closed for operations.
2025: A portion of the former Dallas Morning News building was sold for $52 million.
Summer 2026: Construction activity faced delays due to the FIFA World Cup.
The Home Front
This land acquisition marks a significant step in the ongoing transformation of downtown Dallas commercial districts. It aligns with broader trends of central city revitalization that utilize large-scale public infrastructure investments to drive private hospitality development.
Dallas residents should monitor local planning notices regarding the upcoming entertainment district, as future site preparation and construction may impact traffic patterns around South Lamar and Young streets. Property owners in the surrounding area can track these developments for potential shifts in local neighborhood zoning and long-term property values.
The takeaway
The consolidation of this downtown block positions the area for a major transition from transportation hub to entertainment destination. Residents should stay informed through official city planning updates as the $3 billion convention center project progresses.
Further reading
Learn more about local business trends in Dallas Commercial.
Source note: This article includes information reported by The Real Deal New York.
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