More than three years after we were first introduced to the Valley View Mall redo known as Dallas Midtown (one day), developer Scott Beck told the Dallas City Council today that he’s “shovel-ready” and prepared “to tear down the mall in December.” But a few roadblocks remain, among them some property owners who aren’t on board with the development, and a new thoroughfare plan inside the confines of what Beck Ventures promises will one day be a $20 billion development spread out over 450 acres more or less between Valley View and the Galleria.
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“The concept of the esplanade is very European, and it’s what distinguishes this street from any other in Texas,” says Beck. “What we want to create is connectivity from one side of the street to another with lush trees, fireplaces in the winter — a place where people can hang out all day and people-watch. And the tall buildings on the left, that’s the beginning of the park, which is on the current JCPenney parking lot. That’s five acres of park between Monfort and the esplanade. That’s almost an acre bigger than Klyde Warren, with 20 more acres on the other side of Monfort.”
The wait is over: construction on the long-anticipated redevelopment of the old Valley View Mall should kick off by summer.
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He’s working with the City of Dallas and councilman Lee Kleinman to finalize the street infrastructure plan; all of the pieces were approved at the end of 2015. The councilman has also been working with the Dallas Midtown Park Foundation to secure the 20-acre Midtown Commons Park Three projects will start simultaneously: a new AMC theater on top of 80k SF of office that sits atop retail, a hotel on top of retail and a new grocery store on top of retail. And, we’ll finally say goodbye to the old mall with its demolition probably between July and October. He expects the first retail and the office space to open at the end of 2017 or beginning of 2018.
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Scott says construction plans are being drawn now. Omniplan assisted with master planning and Dallas Midtown is working with WDG, 5G and NY-based Streetworks on the three projects. GCs haven't been selected yet; he expects final pricing to come in around April. He’s hoping to get the ink dried so he can announce the hotel and grocery flag at our State of the Market event.
Dallas developer Scott Beck has begun environmental remediation and pre-demolition work on the $4 billion Dallas Midtown mixed-use development in North Dallas that will make way for a new corporate magnet and entertainment destination.
Beck's Dallas-based Beck Ventures is overseeing the redevelopment immediately surrounding Valley View Center, which is about 17 blocks within a larger 40-block, 430-acre mixed-use development.
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Valley View Center is expected to be taken down brick-by-brick versus an implosion to salvage materials that could ultimately be used in the new development on the site in North Dallas. Beck Ventures also is in the process of creating a tree farm by pruning back the roots of certain trees to ready them for being moved, he said.
The pre-demolition work began in earnest in December. By May 1, Beck said he expects to begin demolition on Valley View Center and have the entire site cleared and ready for vertical construction by the end of the year.
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Our retail partner Shop Cos. is working on bringing all kinds of interesting retail and restaurant groups to the project.
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We plan to be open by December 2017 with some opening the first quarter of 2018.
Next week could be big for the Beck family, as the city's economic development committee and the Dallas city council vote on $36 million of tax increment financing funds for the initial phase of the family's $4 billion Dallas Midtown mixed-use development.
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This is precisely what the economic development committee and city council members have put in place, which is we will front the money to build public infrastructure and get a rebate on taxes back to pay for that infrastructure," Scott Beck, who is overseeing the development on behalf of Beck Ventures, told the Dallas Business Journal.
"I would be shocked if it didn't pass," he added.
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Beck has been working alongside Hillwood Urban on that group's plans to build a multi-tenant office building and couldn't be more pleased with the developer's plans.
"We are waiting with bated breath for next week to get over this hurdle and take us to the next step," Beck said. "We've got to get these pieces done before the fun stuff can begin bringing in retailers, office users and all those things."
DALLAS | Midtown
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