realestate

Dallas halts all real estate transactions following controversial $14M land acquisition

Dallas City Manager admits taxpayer dollars wasted on office tower with code violations.

D
allas City Manager Kimberly Bizor Tolbert has acknowledged that taxpayer dollars were squandered on an office tower plagued by code violations. The 11-story building, located at 7800 N. Stemmons Freeway, was purchased in 2022 for $14 million as the city's new permitting office. However, it was shut down after 39 fire code infractions were discovered.

    The city subsequently invested an additional $7 million into the building, which still requires millions more to meet code standards. The monthly maintenance and security costs are a staggering $73,000. Tolbert has concluded that the decision to buy the building was "neither strategic nor well-considered" due to inadequate due diligence.

    Tolbert is now urging the city to cut its losses and sell the building for redevelopment. She has instructed staff to put all real estate purchases on hold and instead focus on evaluating and repurposing existing assets. The city's new online land management system will also render the permitting center unnecessary, making it a prime candidate for sale.

Dallas officials pause real estate transactions amidst controversy over $14M land deal.