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A Video Journey Through $3 Billion Dallas Midtown
Valley View Center Area to Be Redeveloped Into "Dallas Midtown"
CLICK HERE FOR THE FULL STORY
Developers plan to transform the area around Valley View Center into a mixed-used development with condos, hotels, office space and Bellagio-style fountains.
Dallas Midtown is the vision of Beck Ventures, the developer that purchased the mall last year.
"This will really have the rubber-band effect that's going to be able to snap back all of that development into the city of Dallas," said Scott Beck, Beck Ventures president.
The $3 billion development will include condominiums, two luxury hotels, 4 million square feet of office space and a gondola-lift system that will connect Dallas Midtown to the Galleria Dallas.
Valley View Center, where change is already happening, will remain.
The mall's occupancy level has more than doubled to 86 percent from 40 percent, in large part due to the artists such as Kiki and Doug Winters, the directors of the Gallery at Midtown & Artist Studio.
"I remember when this mall was completely the coolest place on earth and once we talked to the Becks, we realized what their vision [is]," Doug Winters said. "I think it's going to be the coolest place to be again."
The Winters are among dozens of artists that are fusing art and shopping, something that Beck said would be Dallas Midtown's mainstay.
The potential benefits of the project are endless, city leaders say.
"You see here, we're not a recession," Councilman Tennell Atkins said. "We are growing our tax base, our tax breaks. We're also growing our population."
Construction on Dallas Midtown will begin in early 2014.
Dallas Midtown is the vision of Beck Ventures, the developer that purchased the mall last year.
"This will really have the rubber-band effect that's going to be able to snap back all of that development into the city of Dallas," said Scott Beck, Beck Ventures president.
The $3 billion development will include condominiums, two luxury hotels, 4 million square feet of office space and a gondola-lift system that will connect Dallas Midtown to the Galleria Dallas.
Valley View Center, where change is already happening, will remain.
The mall's occupancy level has more than doubled to 86 percent from 40 percent, in large part due to the artists such as Kiki and Doug Winters, the directors of the Gallery at Midtown & Artist Studio.
"I remember when this mall was completely the coolest place on earth and once we talked to the Becks, we realized what their vision [is]," Doug Winters said. "I think it's going to be the coolest place to be again."
The Winters are among dozens of artists that are fusing art and shopping, something that Beck said would be Dallas Midtown's mainstay.
The potential benefits of the project are endless, city leaders say.
"You see here, we're not a recession," Councilman Tennell Atkins said. "We are growing our tax base, our tax breaks. We're also growing our population."
Construction on Dallas Midtown will begin in early 2014.
Artists paint mod murals on Valley View’s walls
27 Mar 2013
by Monica S. Nagy
Artists are beginning to paint murals on all the blank walls and pillars in Valley View Center’s artist commune. Proud that two wings of his mall are 100 percent occupied with artists studios and gallery space, owner Scott Beck decided to let the artists ditch the canvas and go straight for the building.
Artists: Kevin Obergon, Douglas Winters III, DIY, Margo Miller, Todd Bott, Venus Rain, Anna Crowdus, KD Hafley and James Rizzi are working on the murals. Kiki Curry, Gallery at Midtown co-director says they are going for a “mod-fantasy Oz-like feeling to declare the artist commune our territory, and define the space to change the mindset of the viewer toward creativity.”
Curry says they may enlist the help of other artists to work on a 42-foot-long wall, and that this is just the beginning. They hope to have the murals complete by the next Midtown ARTwalk on April 20.
by Monica S. Nagy
Artists are beginning to paint murals on all the blank walls and pillars in Valley View Center’s artist commune. Proud that two wings of his mall are 100 percent occupied with artists studios and gallery space, owner Scott Beck decided to let the artists ditch the canvas and go straight for the building.
Artists: Kevin Obergon, Douglas Winters III, DIY, Margo Miller, Todd Bott, Venus Rain, Anna Crowdus, KD Hafley and James Rizzi are working on the murals. Kiki Curry, Gallery at Midtown co-director says they are going for a “mod-fantasy Oz-like feeling to declare the artist commune our territory, and define the space to change the mindset of the viewer toward creativity.”
Curry says they may enlist the help of other artists to work on a 42-foot-long wall, and that this is just the beginning. They hope to have the murals complete by the next Midtown ARTwalk on April 20.
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Scott Beck: Bringing back life, community to Valley View Center
Dallas Business Journal by Candace Carlisle, Staff WriterDate: Friday, December 28, 2012, 2:06pm CST
View photo gallery (6 photos)
Scott Beck is targeting nontraditional tenants to increase occupancy at Valley View Center. One of those groups: Artists.
Candace CarlisleStaff Writer- Dallas Business JournalEmail | Twitter | Twitter | Googlehttp://www.bizjournals.com/dallas/blog/2012/12/scott-beck-bringing-back-life.html
In the past few months, developer Scott Beck has cultivated a community to revive the once-declining Valley View Center.
The mall has shown increasing occupancy rates from 40 percent occupied to more than 60 percent occupied since Dallas-based Beck Ventures bought the property earlier this year.
Valley View Center has targeted nontraditional tenants, such as an artist community, gallery, a dojo, local eateries, a Mexican mercado and an indoor foot sole field.
Developing a community is an important part of the redevelopment plan over the next few years, Beck said, who used to frequent Valley View Center as a child and is once again walking the property.
Beck gave the Dallas Business Journal a tour of the mall's new offerings and sat down to chat about the future of the mall, which sits at the epicenter of the $2 billion redevelopment of the 400-acre area called Dallas Midtown.
Candace covers commercial and residential real estate and sports business.
View photo gallery (6 photos)
Scott Beck is targeting nontraditional tenants to increase occupancy at Valley View Center. One of those groups: Artists.
Candace CarlisleStaff Writer- Dallas Business JournalEmail | Twitter | Twitter | Googlehttp://www.bizjournals.com/dallas/blog/2012/12/scott-beck-bringing-back-life.html
In the past few months, developer Scott Beck has cultivated a community to revive the once-declining Valley View Center.
The mall has shown increasing occupancy rates from 40 percent occupied to more than 60 percent occupied since Dallas-based Beck Ventures bought the property earlier this year.
Valley View Center has targeted nontraditional tenants, such as an artist community, gallery, a dojo, local eateries, a Mexican mercado and an indoor foot sole field.
Developing a community is an important part of the redevelopment plan over the next few years, Beck said, who used to frequent Valley View Center as a child and is once again walking the property.
Beck gave the Dallas Business Journal a tour of the mall's new offerings and sat down to chat about the future of the mall, which sits at the epicenter of the $2 billion redevelopment of the 400-acre area called Dallas Midtown.
Candace covers commercial and residential real estate and sports business.
Artist community at the heart of Valley View vision
Artists pay rock bottom rates for space in the mall
Premium content from Dallas Business Journal by Candace Carlisle, Staff Writer
Date: Friday, December 28, 2012, 5:00am CST
http://www.bizjournals.com/dallas/print-edition/2012/12/28/art-at-the-heart-of-valley-view-vision.html
Skypony Studio artist's Doug Winters III and wife Kiki Winters and Gallery at Midtown directors in their Valley View location.
Candace Carlisle
Staff Writer- Dallas Business Journal
Email | Twitter | Twitter | Google
Douglas Winters III stands at his easel, stroking the canvas with a brilliant hue of orange-gold paint. He takes a step back, inspecting his work entitled ‘No Strings Attached.’
Lately, Winters has been painting with an audience — the shoppers at Valley View Center.
Winters and his wife Kiki own Skypony, a gallery and studio at the prominent corner adjacent to the AMC Valley View 16 movie theater. The gallery sits at the entrance into Gallery at Midtown & Artist Studios, a newly formed artist community in the beleaguered mall.
“This will be a major part of the renaissance of Dallas Midtown,” said Winters, who is the co-director of the artist community within Valley View Center. “We hope to be here for a long time.”
As part of the redevelopment strategy for Valley View Center, Dallas-based Beck Ventures is leasing long-vacated retail stores to artists for them to use as studio and gallery space.
Two once-empty corridors of Valley View Center have 20 former stores now devoted to cultivating an artistic community, and ultimately creating a vision for the future of Dallas Midtown, the 400-acre area bound by LBJ Freeway on the south, Dallas Parkway on the west, Preston Road on the east and Southern Boulevard on the north.
Valley View Center — which was purchased by Beck Ventures in April — makes up about 22 percent of the district. The family-run Beck Ventures plans to redevelop the 1.6-million-square-foot shopping mall into a $2 billion mixed-use project.
Earlier this month, the North Dallas Chamber of Commerce awarded Dallas-based Omniplan a $250,000 contract to study potential uses for the district. Omniplan will compile recommendations for a comprehensive plan for redevelopment, which could be presented the city as early as May.
But developer Scott Beck isn’t waiting for the presentation. He’s already begun cultivating an arts-based culture that he hopes will carry through the redevelopment.
“When you talk about the renaissance of a district, you need the city,” Beck said. “This corridor really is an opportunity for the city to have a significant economic engine. It also thwarts the flight out of Dallas northward. Business will stop at 635.”
In his own backyard
When Scott Beck was a child, he used to spend hours each day at Valley View Center, playing video games and shopping. Before the Galleria Dallas and the now defunct Prestonwood Town Center, Valley View was his family’s regional mall.
The 38-year-old says he has a vested interest in redeveloping the property.
“I grew up with this mall,” Beck said of Valley View, which opened 39 years ago. “We wanted to do another large project and I thought, ‘Why not do one in our backyard?’ We knew the mall needed a renaissance.”
The tipping point came three years ago when the firm acquired a six-story office building at the northwest corner of Preston Road and LBJ Freeway. When the developer looked out the sixth-floor window of the building, an opportunity for redevelopment was staring back at him.
“I looked at it and said, ‘Oh, my goodness, this is right in our backyard,’” Beck said.
After that, Beck Ventures spent years trying to find a way to make the project financially sound. The only way was through a public-private partnership with the City of Dallas.
“We will be the catalyst of the rebirth of the district, but in no way are we the entire district,” he said.
The Valley View Center portion of the project will likely resemble an open-air shopping community that will serve as a destination in Dallas, much like the West Village in Uptown, he said.
This wouldn’t be Beck Ventures’ first time developing a community. The Dallas-based developer is behind the redevelopment of Trophy Club, a master-planned community that stretches for nearly 4,000 acres.
“When we get done with Valley View Mall, it won’t look anything like it looks today,” Beck said.
One of the pieces
Valley View Center’s artistic community is a positive addition to the Dallas Midtown project, said Bruce Bradford, president and CEO of the North Dallas Chamber of Commerce.
Bradford is overseeing the city’s involvement in the project and the city-funded study.
“This could easily be a portion of any idea that comes out of this study because it will have such a comprehensive approach,” Bradford said. “We look at all the elements that make a community great and an arts community would be a wonderful amenity.”
Ideas from a collective group of stakeholders, including Beck Ventures, will help shape Dallas Midtown, Bradford said.
“The arts community could potentially be a part of Dallas Midtown, it will be one of the pieces of the puzzle,” he said.
Valley View Center’s occupancy rate has increased from 40 percent to more than 60 percent in the short time that Beck Ventures has owned it. Low lease rates have appealed to local tenants.
Last year, the average lease rate for U.S. mall space was $38.77 per square foot annually, according to Reis Inc., which gathers real estate data on shopping centers.
The mall’s artist tenants aren’t paying market lease rates. Instead, they pay a flat fee that can vary between $75 to $375 per month, depending on the artist’s space requirements. Artwork is exhibited at a 14,000-square-foot community gallery at the mall.
“We had to come to terms with the lease rates,” Winters said. “Artists and real estate don’t necessary fall in line and we both had to give a little.”
In the next two weeks, every artist space is expected to be filled, said Winters, who expects to be part of the redeveloped Dallas Midtown.
Temporary walls that were once built to block mall shoppers from seeing vast amounts of vacant space are being torn down.
Along with the mall’s latest artist tenants, Beck Ventures has leased a former two-story Old Navy store to a Mexican mercado and an indoor foot sole field, which resembles a smaller version of an indoor soccer field.
Popular food truck vendor Nammi Food Truck has signed for its first bricks-and-mortar location.
Beck Ventures has signed leases with new tenants for roughly three years as it plans for redevelopment.
[email protected] | 214-706-7121
Candace covers commercial and residential real estate and sports business.
Premium content from Dallas Business Journal by Candace Carlisle, Staff Writer
Date: Friday, December 28, 2012, 5:00am CST
http://www.bizjournals.com/dallas/print-edition/2012/12/28/art-at-the-heart-of-valley-view-vision.html
Skypony Studio artist's Doug Winters III and wife Kiki Winters and Gallery at Midtown directors in their Valley View location.
Candace Carlisle
Staff Writer- Dallas Business Journal
Email | Twitter | Twitter | Google
Douglas Winters III stands at his easel, stroking the canvas with a brilliant hue of orange-gold paint. He takes a step back, inspecting his work entitled ‘No Strings Attached.’
Lately, Winters has been painting with an audience — the shoppers at Valley View Center.
Winters and his wife Kiki own Skypony, a gallery and studio at the prominent corner adjacent to the AMC Valley View 16 movie theater. The gallery sits at the entrance into Gallery at Midtown & Artist Studios, a newly formed artist community in the beleaguered mall.
“This will be a major part of the renaissance of Dallas Midtown,” said Winters, who is the co-director of the artist community within Valley View Center. “We hope to be here for a long time.”
As part of the redevelopment strategy for Valley View Center, Dallas-based Beck Ventures is leasing long-vacated retail stores to artists for them to use as studio and gallery space.
Two once-empty corridors of Valley View Center have 20 former stores now devoted to cultivating an artistic community, and ultimately creating a vision for the future of Dallas Midtown, the 400-acre area bound by LBJ Freeway on the south, Dallas Parkway on the west, Preston Road on the east and Southern Boulevard on the north.
Valley View Center — which was purchased by Beck Ventures in April — makes up about 22 percent of the district. The family-run Beck Ventures plans to redevelop the 1.6-million-square-foot shopping mall into a $2 billion mixed-use project.
Earlier this month, the North Dallas Chamber of Commerce awarded Dallas-based Omniplan a $250,000 contract to study potential uses for the district. Omniplan will compile recommendations for a comprehensive plan for redevelopment, which could be presented the city as early as May.
But developer Scott Beck isn’t waiting for the presentation. He’s already begun cultivating an arts-based culture that he hopes will carry through the redevelopment.
“When you talk about the renaissance of a district, you need the city,” Beck said. “This corridor really is an opportunity for the city to have a significant economic engine. It also thwarts the flight out of Dallas northward. Business will stop at 635.”
In his own backyard
When Scott Beck was a child, he used to spend hours each day at Valley View Center, playing video games and shopping. Before the Galleria Dallas and the now defunct Prestonwood Town Center, Valley View was his family’s regional mall.
The 38-year-old says he has a vested interest in redeveloping the property.
“I grew up with this mall,” Beck said of Valley View, which opened 39 years ago. “We wanted to do another large project and I thought, ‘Why not do one in our backyard?’ We knew the mall needed a renaissance.”
The tipping point came three years ago when the firm acquired a six-story office building at the northwest corner of Preston Road and LBJ Freeway. When the developer looked out the sixth-floor window of the building, an opportunity for redevelopment was staring back at him.
“I looked at it and said, ‘Oh, my goodness, this is right in our backyard,’” Beck said.
After that, Beck Ventures spent years trying to find a way to make the project financially sound. The only way was through a public-private partnership with the City of Dallas.
“We will be the catalyst of the rebirth of the district, but in no way are we the entire district,” he said.
The Valley View Center portion of the project will likely resemble an open-air shopping community that will serve as a destination in Dallas, much like the West Village in Uptown, he said.
This wouldn’t be Beck Ventures’ first time developing a community. The Dallas-based developer is behind the redevelopment of Trophy Club, a master-planned community that stretches for nearly 4,000 acres.
“When we get done with Valley View Mall, it won’t look anything like it looks today,” Beck said.
One of the pieces
Valley View Center’s artistic community is a positive addition to the Dallas Midtown project, said Bruce Bradford, president and CEO of the North Dallas Chamber of Commerce.
Bradford is overseeing the city’s involvement in the project and the city-funded study.
“This could easily be a portion of any idea that comes out of this study because it will have such a comprehensive approach,” Bradford said. “We look at all the elements that make a community great and an arts community would be a wonderful amenity.”
Ideas from a collective group of stakeholders, including Beck Ventures, will help shape Dallas Midtown, Bradford said.
“The arts community could potentially be a part of Dallas Midtown, it will be one of the pieces of the puzzle,” he said.
Valley View Center’s occupancy rate has increased from 40 percent to more than 60 percent in the short time that Beck Ventures has owned it. Low lease rates have appealed to local tenants.
Last year, the average lease rate for U.S. mall space was $38.77 per square foot annually, according to Reis Inc., which gathers real estate data on shopping centers.
The mall’s artist tenants aren’t paying market lease rates. Instead, they pay a flat fee that can vary between $75 to $375 per month, depending on the artist’s space requirements. Artwork is exhibited at a 14,000-square-foot community gallery at the mall.
“We had to come to terms with the lease rates,” Winters said. “Artists and real estate don’t necessary fall in line and we both had to give a little.”
In the next two weeks, every artist space is expected to be filled, said Winters, who expects to be part of the redeveloped Dallas Midtown.
Temporary walls that were once built to block mall shoppers from seeing vast amounts of vacant space are being torn down.
Along with the mall’s latest artist tenants, Beck Ventures has leased a former two-story Old Navy store to a Mexican mercado and an indoor foot sole field, which resembles a smaller version of an indoor soccer field.
Popular food truck vendor Nammi Food Truck has signed for its first bricks-and-mortar location.
Beck Ventures has signed leases with new tenants for roughly three years as it plans for redevelopment.
[email protected] | 214-706-7121
Candace covers commercial and residential real estate and sports business.
