The Dallas Mavericks have officially initiated the process of converting the former Valley View Center mall site into a mixed-use district anchored by a new arena. The NBA franchise filed a rezoning request covering approximately 112 acres of land located just north of Interstate 635 along Preston Road. This move marks a significant step in the team’s long-term strategy to secure a permanent home within the city.
The request seeks to amend existing zoning for a planned development district. It aims to allow for a sports and entertainment campus on the site of the demolished mall. The plan also includes additional space along Montford Drive and Alpha Road. The filing comes three months after the organization announced plans to purchase 104 acres at the location to build this mixed-use environment.
Financial Terms and Site Ownership
The Valley View site has a complex ownership history. Dallas-based Beck Ventures purchased the majority of the property in 2012. However, Seritage Growth Properties and Life Time Inc. also hold portions of the land. While the full terms of the purchase agreement were not made public, a June filing with the Securities and Exchange Commission revealed specific details.
According to the document, Seritage agreed to sell its 20% stake in the site to the Mavericks for nearly $51 million. At the time of the purchase agreement, the Mavericks stated that the Valley View site offered the best opportunity to keep the team in Dallas. The property itself saw most of its mall structure demolished in 2019, though some sections remained standing until 2023.
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For fans and residents, this shift represents more than just a change of venue. It signals a broader integration of the team into the daily life of the neighborhood.
The planned inclusion of restaurants, green spaces, and family-friendly experiences suggests the arena will serve as a community hub rather than an isolated stadium. This approach aims to create a destination that draws visitors on non-game days, potentially revitalizing the surrounding commercial corridors along Preston Road and Alpha Road.
Lease Disputes and City Hall Implications
The Mavericks have shared the American Airlines Center with the NHL’s Dallas Stars for the past 25 years. Their lease at that facility runs out in 2031. The two teams had been engaged in a legal dispute over the arena’s future, but they issued a joint statement last month confirming that their issues had been resolved. This resolution clears the way for the Mavs to focus on their new location.
In January, Mavs CEO Rick Welts said the team had narrowed its options for a new arena to either Valley View or Downtown Dallas. The decision to proceed with the Valley View rezoning indicates a preference for the larger, more flexible site. The team has not yet disclosed how big the new stadium will be, but its current home seats 19,200 fans.
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The move north could have unintended consequences for other city projects. Specifically, it may bolster the case for officials to repair the aging City Hall. City officials have faced various challenges in determining the future of the I.M. Pei-designed structure.
If they decide to modernize the building and complete deferred maintenance, costs could exceed $1 billion over 20 years. Demolition costs are described as “astronomically” high, according to reports from the outlet.
Complicating matters further, a lawsuit has been filed by the Save Dallas City Hall Coalition to block any possible demolition of the building. It is currently unknown when the Dallas City Plan Commission or City Council will consider the Mavericks’ zoning request.
Team officials expressed optimism about the engagement process. “We look forward to working closely with the community as the process moves forward,” they said in a statement.