Thursday, March 28, 2024 Mar 28, 2024
58° F Dallas, TX
Advertisement
Architecture & Design

Michael Ablon of PegasusAblon Wins 2015 Pioneer Award

D CEO created the Pioneer Award to honor Mike Ablon's achievements as a “placemaker” in Dallas, most readily apparent in his redevelopment of the Dallas Design District.
By |
CREA_Ablon
Mike Ablon

Once in a while, you come across a commercial real estate player who seems to transcend classification. That’s the case with Michael Ablon of PegasusAblon. As part of its Commercial Real Estate Awards program, D CEO created the Pioneer Award to honor his achievements as a “placemaker” in Dallas—most readily apparent in his redevelopment of the Dallas Design District.

Ablon and partner Lionstone Investments purchased 40 acres in the district from Crow Holdings in 2007. Their vision? To create a new model for redevelopment in Dallas. Instead of scrapping old buildings, Ablon focused on improving existing structures. When it came to new leases, he had one firm rule: Only local tenants—no chains.

“We were able to breathe new life into a historic area while raising the sea level of the entire neighborhood—not just our properties,” he says.

In seven years, Ablon and his partners increased the value of the district by nearly $500 million. Redevelopment spurred the growth of more than 200 businesses in an area that had been in decline. More than 1,300 new multifamily units were added, and 500,000 square feet of commercial space was revitalized with new restaurant, retail, art, and design tenants. It all increased the value of the Design District TIF area by more than 88 percent over the base year.

Last November, Ablon and Lionstone sold their stake in the Design District to Dunhill Partners. “I am most appreciative of the fact that I got to work with a piece of Dallas,” Ablon says. “I was born here. This is where I live. I love this city, and getting to work on such a special neighborhood was pretty fun.” 

To read profiles of all 51 winners and finalists, click here.

Related Articles

Image
Hot Properties

Hot Property: This Preston Hollow Modern Has Limestone as Old as Dinosaurs

Designed by Todd Hamilton, the mansion features lots of organic elements, including a shell stone only found in Texas.
Image
Restaurants & Bars

Vinito Is the Little Wine Shop That Could—Sell Mexican Wine

In Oak Cliff, two best friends are quietly wooing customers with the vines and unique blends of Mexico.
Image
Business

Experts Weigh In: What the NAR Settlement Could Mean for DFW’s Residential Market

Rogers Healy, Briggs Freeman's Russ Anderson, and Allie Beth Allman's Keith Conlon share insights on the landmark National Association of Realtors lawsuit.
Advertisement