New Owners For Statler Hilton

Robert Wilonsky at the Dallas Observer just posted the news -- the long-vacant Statler Hilton in Downtown Dallas has new owners.

According to documents in the Dallas County property records, the building was sold to the San Antonio-based Ricchi Investment Group for $13.1 million. In addition, the group bought the neighboring site of the former Dallas Public Library for $4.4 million.

The Ricchi Group is also turning the old LTV Tower (1600 Pacific) into the Grand Ricchi Dallas.

Leobardo Trevino, the head of the investment group, told the Dallas Observer the first order of business is to clean up the space.

"But right now," he says, "the plans are to clean it up and restore the exterior and make it nice. We'll gut it and take it down to the concrete like we did with 1600 Pacific. But our plans are to restore it to the original and make it look like it did in 1956. We love the property. It took us seven months of negotiations, but we finally got it. We started work two weeks ago and can't wait to get it cleaned up and back and shape."

We're thrilled for the sale, since it means another of our Shells of Our City buildings is getting a new lease on life. We profiled the Statler Hilton back in August 2009.

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