$100 Million Changes Coming To Victory Park
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DALLAS (CBSDFW.COM) – To say Victory Park has fallen short of expectations would be an understatement, according to some Dallas City Council members.
In fact, some council members have gone so far as to call it a disaster.
The area surrounding the American Airlines Center has never gained the popularity expected when it was built — and now there’s a $100 million plan in place to try to change that.
City council members got their first look at proposed changes to Victory Park on Monday. The modifications aim to lure more people to the area when there are no Dallas Stars or Dallas Mavs games scheduled at the American Airlines Center.
New retailers, new restaurants and a new theater are among the potential upgrades. Also, to make the area more attractive for businesses and consumers alike, the plan calls for changing traffic flows and turning one-way streets (Victory Ave. & Houston St.) into two-way roads.
Designers also hope to tie in the nearby Katy Trail to improve bicycle traffic throughout the district and widen the sidewalks to seven feet with an additional three feet of space for landscaping.
Finally, the unfinished parking lot near the W Hotel would become home to a residential and entertainment mixed-use building.
Victory Park UST owns the development and would pay a portion of the expenses, but most of it would come from the Sports Arena Tax Increment Finance, or TIF, which is taxpayer money.
The work would begin in next May and end December 2015.
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