Victory Park is the mixed use development surrounding the American Airlines Center where the Dallas Mavericks and Dallas Stars play their games. It opened to much fanfare years ago with the promise of a live-work-play environment with high density development.
Unfortunately, it hasn‘t worked out so well. Many of the retailers have closed due to lack of business. The office buildings are new and class A. The apartments and condos are first class. But there just isn’t enough traffic to support the retail.
The owners have been working hard to change that, however. A partially-built garage and retail at Olive St. and Victory Park Lane — an unfinished block at the heart of Dallas’ Victory Park development — is about to see new construction. Estein & Associates is about to start work to finish the garage and include more retail and restaurants to the project.
The Dallas Morning News quoted Lance Fair, COO of Estein, as saying “The unfinished garage has been considered by many to be the eyesore of the district, and now it will be transformed into one of its greatest assets.”
The 22,030 square feet of new space should open next summer. The second floor will have a covered patio connected to a planned restaurant at the northeast corner facing the American Airlines Center arena.
Next year Victory Park is expected to add a movie theater, apartment tower and more retail.
I hope these improvements will have the traffic needed to be successful.
Bob Gibbons is a Real Estate Advisor & Tenant Advocate with REATA Commercial Realty, Inc. which is a tenant advisory firm based in Plano, Texas. Bob serves companies in Plano, Frisco, McKinney, Allen, Richardson, Addison, Dallas and the surrounding areas and specializes in companies which lease or buy office and warehouse properties.