RICHARDSON, TX-Interests of the late Hassie Hunt sold a 220-acre tract to a group led by Dallas-based Parliament Group Inc. in an all-cash transaction. The new owners are taking their time in determining the future of this land, which is bordered by two major highways and the Dallas Area Rapid Transit light rail.

“This land has been developed around, but not on, as of now,” comments Joseph M. Altemore III, a partner in the Parliament Group. He tells that the reason for this was because the land was part of a trust set up for a Hunt sibling that had passed away a few years ago. “The charge of the trust was to start dissolving assets,” Altemore explains, meaning the land located at U.S. 75 (Central Expressway) and State Highway 190 (George Bush Turnpike) came to the market.

Altemore tells the next step is to determine the best use for the land. To that end, the new owners are working on a six-month to one-year study to examine some possibilities, including a transit-oriented development on the western 57 acres which adjoin the light rail station. The remaining acreage could be dedicated to a mixed-use development.

“It’s trying to get a crystal ball out today and fast-forward five years to figure out what the demand will be then,” Altemore says. “That’s what we’re trying to figure out for the next 12 months.”

He adds that Hunt family was an excellent steward of the land, maintaining it well and setting it up for potential development. During its ownership, the family and its property management group, Galatyn Park Corp., worked with the Cities of Richardson and Plano, Collin County, the Texas Department of Transportation and the Texas Turnpike Authority to orchestrate development of the President George Bush Turnpike through the northern edge of the land. Galatyn Park Corp. also worked with the Hunt family, DART and the city of Richardson to secure the Bush Turnpike station. Furthermore, the area is the second-largest employment center in the Dallas-Fort Worth area, after the Dallas CBD.

And now the land is in the hands of Parliament Group and its partners. “We’ll take our time on this one and figure it out,” Altemore comments. “Right now we have a blank canvas out there, and the worst thing we could do is pull the trigger on something that doesn’t belong there.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.