Development at Stadium Site Planned

Redevelopment of land around Texas Stadium in Irving is being mulled over by local officials. The long-time home of the Dallas Cowboys will be demolished when the team moves to its new stadium after the 2008 season.

 

Irving, Texas city officials and landowners near Texas Stadium are no longer pursuing a much-hyped plan for a single developer to turn the landmark site and its surrounding land into a massive mixed-use mecca.

The city, the University of Dallas and Southwest Premier Properties instead are now pursuing separate land deals with individual developers. Together, the three entities own about 400 acres of developable land at and around the stadium site.

City-selected developer Forest City Enterprises this year could not come to redevelopment agreements with UD and Southwest as expected. Reasons for the lack of consensus depend on whom you ask. They vary from unhappiness with construction timelines to gaps between asking prices and actual offers.

Yet by all accounts, the involved parties are still committed to working together in building an urban district complete with residences, office buildings, retail outlets, hotels and civic buildings. City officials visualize a district similar to Dallas’ Uptown or their own Las Colinas

The city is sticking with Forest City to develop the land it owns, which is where the stadium sits. The Dallas Cowboys plan to move to their new stadium after the 2008 season, and the city is expected to demolish the landmark structure after that.

The city also plans to finalize a formal agreement with Forest City this year. The redevelopment on the city’s land is planned to feature 3 million square feet of commercial space and could include more than 2,300 multifamily residential units.

“Our vision for the stadium site is still very similar,” said Forest City vice president James Truitt.

A Southwest Premier official said his company has selected its own developer but could not yet announce who it is. Mr. Galecke said UD is still in discussions with a developer for its land.

City officials visualize an area full of parks, pedestrian walkways, places to live and stores to shop. The area is also set to include two Dallas Area Rapid Transit light-rail stops – one on the city’s property and one on UD’s property adjacent to the school’s campus.

Source: Dallas Morning News