News and Features

Will Museum Tower Be Sold? Maybe Yes, Maybe No.

KERA’s BJ Austin filed this report.

The Dallas Police and Fire Pension Board has hired Hunt Investment Management to vet offers to buy the 42-story luxury condo building the Pension Board owns in the Dallas Arts District.

In a statement, the board says the tower is not for sale, but since Dallas developer Jack Matthews made an unsolicited bid to buy it, other offers have arrived.

The Pension Board statement says trustees have a fiduciary responsibility to “review and consider viable offers.” The statement says a change in ownership would not affect homeowner contracts or the Home Owners Association. The vetting process is expected to take several months.

Meanwhile, Museum Tower remains locked in a battle with its neighbor, the Nasher Sculpture Center. On sunny days, the glare of sunlight reflected off the glass tower beams into the Nasher’s garden and through the Museum’s glass roof, creating damage to plants and art, the museum claims.

Mayor Mike Rawlings wants a solution and an end to the stalemate by summer.