DALLAS -- The old Valley View Mall is soon to be a $3 billion entertainment area, according to the developer who bought the mall property.
The timing is good to get the reconstruction started because the area is already torn up from the LBJ Express project. The new view for the 40-year-old mall is a what the developer calls an "urban renaissance" that'll be a magnet attracting people to work, live, and play in one place.
Scott Beck is president of Beck Ventures, which bought the mall property about a year ago
"This really will have the effect of what I would call the 'rubber band effect' that's going to be able to snap back all of that development coming back into the City of Dallas," he said in a news conference Thursday.
Named Dallas Midtown, the project will feature 4,600 multifamily residential units, over 1,000 hotel rooms, high-rise buildings, and stores. In the middle is a 20-acre park, and much of it would be connected by trolley, bike lanes, and a cable car.
Dallas Deputy Mayor Pro Tem Tennell Atkins hailed the project.
"It gives the citizens the urban look," Atkins said. "You can walk to work, you can entertain, you can eat, you can sleep, you can do all the things without a car."
But before the slick videos become reality, more than half of the existing buildings in the area that extends beyond the mall property will be knocked down. The developer will need to get all the various tracts of property rezoned. The city must build out millions in new streets and infrastructure.
It'll take years, but Dallas City Councilmember Linda Koop, who represents the area, believes it can happen to rebuild an part of the city area that's been in decline.
"If you came back in ten years and you took a snapshot of today, and compared it to ten years from now, you really, I think, would be very, very impressed of the vision that is going on here," Koop said.
Beck hopes to start construction in about a year, but the Dallas City Plan Commission and city council must take zoning votes, and those are expected this month and next.