DALLAS–The first phase of the redevelopment to create the new Victory Park will soon be underway. The main focus for this round will be pedestrian-friendly improvements to both Olive Street and Victory Park Lane in order to achieve the long-term goal of turning the area into a vibrant district.
“This is a much-anticipated and exciting day for those that live and work in Victory Park, Uptown and the City of Dallas,” says Lance Fair, COO of Estein & Associates and vice president of Victory Park. “The street and streetscape improvements are a vital component of transforming Victory Park into Dallas’ premier walkable entertainment district that can be sustained for years to come.”
Phase one includes:
- a raised crosswalk and a median on Olive Street in order to connect Victory Park Lane and Victory Plaza
- a signalized crosswalk will be placed at the intersection of Olive Street and Victory Park Lane
- the removal of existing raised medians and street lights along Victory Park Lane
- the widening of sidewalks on Victory Park Lane to accommodate large outdoor patios
“The redevelopment of Victory Park and revitalization of downtown make it a truly exciting time to be in Dallas right now. Making Victory Park more pedestrian friendly will make a difference for visitors, but more importantly it will be a vital transformation for those who live and work there,” said Dallas Councilmember Adam Medrano, in a statement. “The hope is that these improvements will attract businesses and residents to the new development, which will in turn allow this thriving area to reach its full potential.”
Once phase one is complete later this year, the focus will turn toward adding retail, restaurants, entertainment and office space. Existing businesses will see enhanced storefronts, graphics and landscaping as well as improved signage. North Hudson Street and Victory Avenue will both be converted into two-way traffic streets and bike lanes will be added from the end of the Katy Trail to the center of Victory Park.
As part of the revitalization efforts, in May 2012 Victory Park partnered with Trademark Property Co. to reposition and redevelop the areas retail. Since then Trademark has worked to develop merchandising and leasing strategies and has begun pre-leasing efforts with key retail and restaurant tenants. The district currently houses 130,000 square feet of restaurant and retail space.
The area around Victory Park has seen an increase in projects and developer interest. As GlobeSt.com reported at the beginning of April, Hines has plans in place to construct a 23-story office tower at 2371 Victory Park Ave. The project was designed by Duda/Paine Architects. The 470,000-square-foot building will include 15 levels of office space as well as a 7,000-square-foot fitness center, a conference center, on-site restaurant and café. The property is just north of Hines’ One Victory Tower, which is 97% occupied.