D
allas business mogul Ray Washburne has acquired the Greyhound bus terminal near the downtown convention center, with plans to redevelop the site. The 26,000-square-foot property at 205 South Lamar Street was purchased from Twenty Lake Holdings, a subsidiary of Alden Global Capital, for an undisclosed price. The Dallas Central Appraisal District values the property at $2.8 million.

    Washburne's firm HP Village Management owns Highland Park Village and Charter Holdings has acquired several properties in downtown Dallas, including the former Dallas Morning News headquarters building. Washburne is part of the Hunt family, which has a $5 billion plan to redevelop the area around Reunion Tower.

    The Greyhound station will remain operational until April under an extended lease with Greyhound. After that, Washburne plans to redevelop the site in light of Dallas' $1.2 billion replacement of the Kay Bailey Hutchison Convention Center. He is considering keeping the iconic 1946 bus station sign.