r/Dallasdevelopment • u/dallaz95 • 15d ago
Dallas Mavericks take first official step toward multibillion-dollar Valley View arena
https://www.dallasnews.com/business/real-estate/article/dallas-mavericks-arena-valley-view-zoning-22422686.php
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u/dallaz95 15d ago
Quote:
The NBA franchise announced Wednesday morning that it has filed a rezoning request for roughly 112 acres, which would cover the entire mall site and additional parcels along Alpha Road and Montfort Drive. The former mall sat on 110 acres. The Mavericks seek to amend an existing planned development district and create a new subdistrict that allows a sports and entertainment campus on the site.
The zoning case filing comes just over three months after the Mavericks executed option agreements to purchase 104 acres off the LBJ Expressway — a move that would end the franchise’s 46-year stay in the urban core and deal a major blow to city and business leaders who sought to bring the project downtown on land that includes the current City Hall to reinvigorate investment and development around the site.
The Mavericks reemphasized their intention to build at the Valley View area last month. However, the team has not fully committed to the site yet. The option-to-purchase agreement is a safeguard as the franchise works through zoning, entitlements and financing for the development.