DALLAS, Jun 16, 2012/ — Atop the historic Magnolia Hotel, the Flying Red Horse or Pegasus is one of the most endearing landmarks in Dallas.
Originally erected in 1934 to celebrate the American Petroleum Institute’s annual meeting, held in Dallas for the first time, the Flying Red Horse became the logo of Mobil Oil when it merged with Magnolia Petroleum in 1959.
But, it was more than just a company logo. The rotating winged horse came to represent the city of Dallas and became one of its most recognizable and endearing landmarks, even after the building became obscured by much larger skyscrapers (the neon Pegasus can now only be seen in the downtown skyline approaching from the south).
By 1974, however, Pegasus stopped rotating due to mechanical problems and in 1977, the Mobil Oil Company moved their headquarters out of the aging building and the property was sold to the city of Dallas. The building was listed in the National Register of Historic Places in 1978.
Below the Flying Red Horse is its namesake park, the Pegasus Plaza. The shaded plaza includes several fountains and is used for concerts, festivals and Christmas celebrations. Pegasus Plaza was created as the centerpiece of a $7 million restoration program for the historic Main Street District.
