Dallas Developer Jack Matthews Said to be Making a Bid to Buy Museum Tower

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MuseumTower-rendering-2.350w_263hJust read this over on the Dallas Morning News Scoop Blog: Dallas Developer Jack Matthews has, for weeks, been negotiating a potential deal to buy Museum Tower with the owners, the Dallas Police and Fire Pension System, according to DMN sources.

If true, this sparks hope that a change of management for the tower could help end the nasty neighbor fight with the Nasher Sculpture Center over the tower’s glare. For months the parties seem to have been playing the “blame game”.

Steve Thompson wasted no time in asking Jeremy Strick what he thinks such a deal could mean — his pulse must have quickened:

“Mr. Matthews has demonstrated time and again that he is a thoughtful, civic-minded developer committed to our community, and we would welcome the opportunity to work with a willing partner to resolve the problem quickly and effectively,” said Nasher director Jeremy Strick in an emailed response to inquiries.

According to the post, Matthews is not the first person who has come forward with both financial and technical solutions to the reflective issue created by the tower’s exterior, which SOME SAY reflects harsh sunlight inside the Nasher.

Jack Matthews is the developer behind some of North America’s and North Texas’ most impressive projects. First and foremost is the $500 million Omni Dallas Convention Center Hotel which opened ahead of schedule and is making money hand over fist. Matthews also developed The Bow, a 58-story, 2.2 million-square-foot headquarters for Encana Corp. in Calgary, Alberta and now the tallest building in Canada outside of Toronto, as we are told by Christine Perez in D CEO.

A Canadian, Matthews grew up in London, Ontario, the fifth of sixth children and the only boy in his family. He began working for his father’s construction company at age 16, and earned both an undergrad degree and MBA from the University of Western Ontario, where he earned an undergrad degree in economics and an MBA. Matthews developed Southside on Lamar out of the old historic Sears catalog building on Lamar Street, the Beat Condos, and The Tribute, a 1,500-acre masterplanned community on the shores of Lake Lewisville featuring a Scottish links-style golf course designed by Tripp Davis and The Old American Golf Club, designed by Davis and Justin Leonard. I spent last New Years Eve at a wedding at the tribute Club House — it was spectacular. Locally, Matthews is also responsible for the  NYLO Dallas SouthSide Hotel with rooftop bar and pool in south Dallas. Matthews himself lives in Argyle.

As of 9:45 Friday night, the DMN had heard from DP&F pension system administrator Richard Tettamant:

“Museum Tower is one of the premier residential properties in the United States. The project has just been completed, and it is to be expected that a property as beautiful and unique as Museum Tower will have interested buyers. The Dallas Police and Fire Pension System’s Board of Trustees has a fiduciary responsibility to its members to consider all viable offers. We’re very proud of this exceptional property and believe it is an outstanding investment for the Dallas Police and Fire Pension System.”


Candy Evans

A real estate muckraker, Candy Evans is one of the nation’s leading real estate reporters. She is also the North Texas real estate editor for Forbes.com, CultureMap Dallas, Modern Luxury Dallas, & the Katy Trail Weekly. Candy has written for Joel Kotkin’s The New Geography, Inman Real Estate News, plus a host of national sites. Constantly breaking celebrity real estate news, she scooped former president George W. Bush's Dallas home in 2008. She is the founder and publisher of her signature CandysDirt.com, and SecondShelters.com, devoted to the vacation home market. Her verticals have won many awards, including Best Blog by the venerable National Association of Real Estate Editors, one of the nation’s oldest and most prestigious journalism associations. Candy holds an active Texas real estate license but does not sell. She is on the Board of Directors of Braemar Hotels & Resorts (BHR).

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