The Dallas Mavericks have selected the former Valley View Mall site in North Dallas as the future home of a new Mavericks arena and entertainment district, the team announced Tuesday.
The Mavericks organization said it has entered into option agreements for the potential purchase of around 104 acres of the former Valley View Mall site’s 110 acres, located on the north side of LBJ Freeway east of Preston Road.
The team said the long-vacant Valley View site—which at one point was slated to become a massive International District—”meets most of the criteria established at the outset of our evaluation process.”
“It is our goal to stay in the city of Dallas, and we believe this site provides the strongest opportunity to achieve that goal,” the team said in a statement.
According to D Magazine, the Mavericks are spending $50,760,000 for 20 acres of the property, according to an 8-K form submitted to the Securities and Exchange Commission by Seritage Growth Properties, which owns nearly 20% of the site.
The Dallas Morning News called the selection “a seismic decision” that could reshape Dallas’ sports and entertainment landscape for decades, noting that the team wants its new basketball-focused arena to be completed by the time its American Airlines Center lease expires on July 28, 2031.
The selection ends months of intense speculation that the Mavericks might end up building its new arena at the site of Dallas City Hall, whose continued existence continues to be in doubt, with many supporting the city hall’s preservation and others decrying the expense that renovating the I.M. Pei landmark will cost the city.
Eyeing an arena-anchored mixed-use destination
“We have the opportunity to create a vibrant mixed-use destination anchored by a state-of-the-art arena, along with restaurants, entertainment options, public green spaces and family-friendly experiences,” the Mavericks organization said. “Done thoughtfully and with community engagement, a project of this scale will serve as a meaningful economic catalyst for Dallas and its residents.”
The organization said it has appreciated the enthusiasm from the Dallas City Manager, elected officials, and the broader community to keep the team in Dallas, adding, “We look forward to continuing the collaboration toward that goal.”
“We believe in Dallas, and our priority has been clear from the beginning: keeping the Dallas Mavericks in Dallas,” the team added.
Dallas mayor, city manager laud decision
In a joint statement, Dallas Mayor Eric Johnson and Dallas City Manager Kimberly Bizor Tolbert lauded the team’s decision to build its new arena within Dallas.
“The Dallas Mavericks’ ownership has informed the City that it has signed an option agreement for 104 acres at the former Valley View Mall site for a potential new arena,” the city leaders said. “We applaud the Dallas Mavericks organization for its continued commitment to our city. We will continue working with the Dallas Mavericks throughout this process and will do everything we can to support the team’s enduring partnership with Dallas.”
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