Developers Acquire Final Parcel of Old Dallas Greyhound Site
Ray Washburne and Jack Matthews now control the entire 26,000-square-foot downtown property.
Updated on Oct. 28, 2026 in Commercial
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Developers Ray Washburne and Jack Matthews have secured the final 10,000-square-foot piece of land to complete their acquisition of the former Greyhound bus station site in downtown Dallas. The full 26,000-square-foot property spans 205 South Lamar Street and 804 Commerce Street.
Why it matters
The site is viewed as a pivotal component for the revitalization of the downtown Dallas urban core. Consolidating the full property allows for larger redevelopment efforts near the Kay Bailey Hutchinson Convention Center.
The site acquisition encompasses 26,000 square feet of total land area in the downtown core. The surrounding area remains part of a broader $3 billion redevelopment project centered on the Kay Bailey Hutchinson Convention Center.
The players
Ray Washburne
He is a prominent developer involved in high-profile real estate projects throughout Dallas.
Jack Matthews
He is a developer currently leading the massive redevelopment of the Kay Bailey Hutchinson Convention Center.
The details
The acquisition allows the developers to move forward with plans that align with nearby major projects, including a planned entertainment district with a 350-400 key hotel at 508 Young Street. The nearby convention center renovation involves rotating the facility 90 degrees and extending it, an effort projected to generate $1.6 billion in economic impact.
Timeline
October 2024: Ray Washburne initially purchased the Greyhound station site.
2025: The Greyhound station officially closed its doors.
2025: Washburne sold a portion of the former Dallas Morning News building for $52 million.
Summer 2026: Construction progress was delayed due to the FIFA World Cup.
Culture Shift
The site consolidation follows the pattern set by the $3 billion Kay Bailey Hutchinson Convention Center redevelopment by integrating adjacent real estate into a unified downtown hub. This reflects a broader trend of large-scale urban land assembly aimed at revitalizing city cores through mixed-use entertainment districts.
Residents and visitors should anticipate long-term changes to the downtown streetscape as the area transitions from a former transit hub to an entertainment district. The completion of this land deal removes the uncertainty surrounding the vacant site and prepares the footprint for forthcoming urban improvements.
The takeaway
Securing total ownership of urban parcels is a common strategy for developers aiming to streamline large-scale construction projects in dense city centers. Investors and residents can monitor public planning records to track the next phases of development for the South Lamar Street corridor.
Further reading
For more information on major property developments in the area, visit Commercial.
Source note: This article includes information reported by The Real Deal New York.
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