PERCEPTION VS. REALITY North Dallas has an over-simplified and - - PowerPoint PPT Presentation
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
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.
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.
Red Bird Mall opened in 1974 by De Bartolo Assumed its place at the center of the community Popular stores of the past Mall began to decline in the 90’s due to increased crime in the area, but has never closed. Mall rebranded to Southwest Center Mall in 1998. Investor Comparison: PAST “Milking” strategy NOW Redevelopment
I N S I D E
90 acres inside the ring road were owned by six different parties.
O U T S I D E
34 acres outside the ring road were owned by 22 different parties.
Disparate ownership of parcel made redevelopment impossible.
I N S I D E
90 acres inside the ring road were owned by six different parties.
O U T S I D E
34 acres outside the ring road were owned by 22 different parties.
Through ten acquisitions, we have assembled over 78 contiguous acres.
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
Cedar Valley College, Mountain View College, Dallas Baptist University, UNT Dallas, Paul Quinn College Mega Church members
To nearest shopping center
Dallas (and one is on I30)
southern Dallas (opened in 2015 and on I30)
Median Household Income of surrounding Dallas area Median Household Income of southern suburbs
GrowSouth
TxDOT
$24.4 million in grants and loans Barbell TIF with Valley View Open door policy/goodwill 2017 Bond Package
Photo Credit: DMagazine/Michael Samples
The community has waited a long time for the redevelopment of RedBird and the City needs to support it.
CM Tennell Atkins Chair, Economic Development Committee
Engagement with the community has led to strong support. Commitment to using local, MWBE
Seeking community partners to join ownership group.
#PLAYREDBIRD | #SHOPREDBIRD | #LIVEREDBIRD | #WORKREDBIRD | #STAYREDBIRD