A storied property near the Dallas Design District that fell from a swinging night spot and hotel for rock stars in the 1960s to housing for county prisoners and sex offenders in the 1980s and 1990s may be on the rise again.
According to this Dallas Morning News story first reported by Robert Wilonsky, the Dallas County Commissioners Court sold the old Cabana Motor Hotel / Decker Detention Center yesterday to Lincoln Property Company, the third largest residential property manager in the U.S. The property, located at 899 N. Stemmons Freeway, is 399,000 square feet sitting on 3.275 acres of prime real estate northwest of Downtown Dallas. Lincoln paid $8.7 million (half a million less than the county paid for the place in 1985).
While no one from Lincoln or the county will confirm plans for the property, rumor has it that Lincoln intends to create a residential tower and data center. (more…)