PERCEPTION VS. REALITY North Dallas has an over-simplified and overly negative view of southern Dallas. 208 square miles cannot be painted with one brush. This is the opportunity: to create value and generate investment returns by recognizing this market misperception AND to do good for the community while doing so.
PERCEPTION VS. REALITY North Dallas has an over-simplified and overly negative view of southern Dallas. 208 square miles cannot be painted with one brush. This is the opportunity: to create value and generate investment returns by recognizing this market misperception AND to do good for the community while doing so.
REDBIRD HISTORY Red Bird Mall opened Mall began to decline in the 90’s Investor Comparison: due to increased crime in the area, in 1974 by De Bartolo but has never closed. Popular stores of the past PAST NOW Assumed its place at the “Milking” strategy Redevelopment Mall rebranded to Southwest center of the community Center Mall in 1998.
PARCEL ASSEMBLY Disparate ownership of parcel made redevelopment impossible. I N S I D E O U T S I D E 34 acres outside the 90 acres inside the ring road were owned ring road were owned by 22 different parties. by six different parties.
PARCEL ASSEMBLY Through ten acquisitions, we have assembled over 78 contiguous acres. I N S I D E O U T S I D E 34 acres outside the 90 acres inside the ring road were owned ring road were owned by 22 different parties. by six different parties.
PRIME LOCATION Intersection of I-20 & Hwy 67 10.7 miles from downtown (Galleria is 11.3 miles from downtown) Proximity to well-to-do southern suburbs
COMMUNITY LIMITED ATTRACTIVE ASSETS COMPETITION AUDIENCE $50k $55k +18min - Only 2 Starbucks in southern +50k Cedar Valley College, Dallas (and one is on I30) Mountain View College, Dallas - Only 1 movie theater in Median Household Median Household To nearest Baptist University, UNT Mega Church southern Dallas (opened in Income of surrounding Income of southern shopping center Dallas, Paul Quinn College members Dallas area suburbs 2015 and on I30)
CITY OF DALLAS SUPPORT GrowSouth The community TxDOT has waited a long time for the $24.4 million in grants and loans redevelopment of RedBird and the Photo Credit: DMagazine/Michael Samples City needs to Barbell TIF with Valley View support it. Open door policy/goodwill CM Tennell Atkins 2017 Bond Package Chair, Economic Development Committee
COMMITMENT TO THE COMMUNITY Engagement with the community has led to strong support. Commitment to using local, MWBE businesses. Starbucks is over 50%. Seeking community partners to join ownership group.
ANNOUNCED DEALS
THE VISION | #STAYREDBIRD #PLAYREDBIRD | #SHOPREDBIRD | #LIVEREDBIRD | #WORKREDBIRD
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