Dallas’ Butler Brothers building $55M redoDallas’ Butler Brothers building $55M redohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=92472012-10-23T08:32:00Z2012-10-22T00:00:00Z

DALLAS - The 101-year-old eight-story Butler Brothers building, adjacent to Dallas’ City Hall, is scheduled for a $55 million renovation into a multi-use property to include a 220-room hotel, 250 apartments and a school. There will also be about 80,000 sf dedicated to office and retail space. The property has 510,000 sf and has an appraised value of $2.5 million.

Alterra 500 South Ervay LLC, led by Turkish investor Mike Sarimsakci, is in charge of the project. The group of investors is in the process of applying for roughly $8 million in historical tax credits and $6 million in new market tax credits.

Dallas Business Journal
Dallas-Fort Worth-Arlington
http://www.bizjournals.com/dallas/print-edition/2012/01/20/project-set-for-ervay.htmlRead more at {Source}

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