DALLAS— A Houston investor is negotiating to buy the Statler Hilton Hotel in downtown Dallas and plans on redeveloping the building, according to a report in the Dallas Morning News. Gary Goff of the Gadfy Group is reportedly teaming up with a group of out-of-state partners on the project. Redevelopment plans call for maintaining part of the 19-story building as a hotel and converting much of the rest of it into residential condominiums. Goff and his firm reportedly have optioned the 49-year-old Statler Hilton from Far East investors who have owned the property since the 1990s. The 738-room Statler Hilton was built in 1956 and was once the flagship of the Statler Hilton chain, the report noted. The Hilton Hotel chain sold the building in the late 1980s when it pulled out of the downtown Dallas market. It most recently operated as the Dallas Grand Hotel but has been closed for several years.
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