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Beck said building permit applications for new construction will come as soon as new water lines are installed along the new streets.īeck believes the Dallas Midtown area could one day have property values rivaling downtown Dallas.As you may know, the City of Dallas is getting very serious about saving two near-comatose shopping malls: Valley View Center at the intersection of LBJ and Preston in the north, and Southwest Center Mall in the south. Construction of new roads through the property could start in January. The AMC Theater will be open until the end of the year, along with some businesses on the Preston Road wing of Valley View Mall.ĭemolition of main sections of Valley View will take months. Highway 67.Īt Valley View Mall, a separate owner has already demolished the closed Macy's store. New development is planned in large parking lots of that mall and improved access is planned to adjacent Interstate 20 and U.S. The new owner of Southwest Center Mall is returning to its old name of Redbird. "To make sure that the core is healthy we've got to make sure that the outer borders are healthy as well." "It's the right thing for the city of Dallas to do," he said. "You've got to grow all parts of the city."īeck said the Midtown area can be an economic engine for other parts of the city. "If you're going to be a great city – a great city – you've got to grow north, south, east and west," Atkins said. The developers receive TIF refunds after meeting goals for private investment in their projects. Increased value from the redevelopment of both areas will be used to repay developers for upfront investments they make in new streets and infrastructure necessary for the projects. "We've got to grow the tax base," said Dallas City Council Member Tennell Atkins.ĭallas Midtown is united with the area around old Southwest Center Mall in a Tax Increment Financing District. That possibility is very appealing to Dallas city leaders who are anxious for more tax revenue to help them tackle expensive pension and infrastructure problems around the city.
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"We really can stop the urban flight to the north by putting up a catcher's mitt right here at (Interstate) 635, giving corporate users an alternative to leaving the city of Dallas," Beck said. The vast mall parking lots provide space that is scarce in Dallas for large corporate campus construction that could compete with relocations Collin County has lured. Plans call for high-rise office, residential and retail construction with a new central park. "It's a chance to give a rebirth to this area and really put in place something that is sorely needed for the city of Dallas and this area," Beck said. They turned shovels on Dallas Midtown Friday and began demolishing the largest remaining portion of the shopping center. "It extends all the way from Preston Road to the toll road." "This is the largest urban district rezone in the history of the city of Dallas," Beck said. Military Families Get a Taste of Christmas at Annual Holidays & Heroes Celebration