DALLAS — For developers and the city alike, the roar of construction at Victory Park is a sweet sound.
"Twenty years ago there wasn't a choice to live downtown, nor was there anybody trying to supply you a downtown," said Jack Matthews, president of Matthews Southwest, a developer with three projects in downtown Dallas.
First announced 14 months ago, the $100 million remodel of Victory Park is underway, with much of that money covered by private developers.
This is part of Dallas — home to the American Airlines Center and a WFAA studio — that city officials say isn't being used to its full potential, for too long living and dying with the sports teams.
"There’s a lot of retail activity that was built at the same time; that is something that needs to be rejuvenated," said Karl Zavitkovsky with the Dallas Office of Economic Development. "Retail activity that initially went in was not successful."
For the next year, the city and private developers will be adding additional retail space, restaurants, and offices to Victory Park.
"It's the hub of a lot of activity," Zavitkovsky. "You can access a lot of different areas that have grown up around it, whereas before it was kind of on the periphery of downtown."
Currently, the City of Dallas is working to execute a thoroughfare plan. The recently-approved scheme creates two-way streets on Victory Avenue and Houston Street.
Other changes coming in 2014 include:
- Additional retail, restaurants, entertainment and office space added throughout the district
- Victory Park Lane redevelopment
- New enhanced sidewalks, storefronts, graphics and landscaping
- Improved signage and wayfinding
- Re-development of the park in Victory Park