DHJ Quick Take: Dallas Mavericks Enter Option Agreements for Former Valley View Mall Site
The Dallas Mavericks have entered option agreements for approximately 104 acres at the former Valley View Mall site, identifying Far North Dallas as their preferred home for a new arena and entertainment district.
- What did the Dallas Mavericks announce? The team entered option agreements for the potential purchase of approximately 104 acres at the former Valley View Mall site near Preston Road and the LBJ Freeway, saying the location meets most of its criteria and offers the strongest opportunity to keep the franchise in Dallas.
- What would be built there? The Mavericks envision a mixed-use destination anchored by a state-of-the-art arena, with restaurants, entertainment options, public green spaces, and family-friendly experiences.
- What is the timeline? The Mavericks’ lease at the American Airlines Center runs through 2031, and the team has said a new arena would take about 30 months to build, with a target opening by the end of 2031. A move would relocate the franchise from downtown.
- How did the Mavericks reach this point? Dallas narrowed its search earlier this year to two finalists, the Valley View site and the current Dallas City Hall location downtown, and polled season ticket holders in April. Chief Executive Officer Rick Welts had set a goal of deciding by July 1, and the announcement arrived a month ahead of that target.
DALLAS — The Dallas Mavericks have entered into option agreements for the potential purchase of approximately 104 acres at the former Valley View Mall site in Far North Dallas, the team announced Monday, identifying the location as its strongest opportunity to keep the franchise in the city as it pursues a new arena and entertainment district.
The site sits near Preston Road and the LBJ Freeway. The Mavericks said the agreements followed a review of several locations conducted with the City of Dallas.
“The Valley View site meets most of the criteria established at the outset of our evaluation process,” the team said in a statement. “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 Mavericks described a development that would reach beyond the arena itself.
“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 statement 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 Valley View Site in Far North Dallas
The former Valley View Mall closed at the end of 2021, and the last of the structure was demolished in 2023 following a series of fires. The full property covers roughly 110 acres, with the Mavericks pursuing about 104 of them near the intersection of Preston Road and the LBJ Freeway.
A move to the site would pull the Mavericks out of downtown, where they have played at the American Airlines Center since the building opened in 2001. The franchise had narrowed its arena search earlier this year to two finalists, the Valley View location and the current Dallas City Hall site downtown. In April, the team polled season-ticket holders on where they would prefer a new building to be located.
The Arena Timeline Under Rick Welts
Chief Executive Officer Rick Welts had set a goal of deciding on a site by July 1, and Monday’s announcement arrived a month ahead of that target. The Mavericks’ lease at the American Airlines Center runs through 2031.
The team has said construction on a new arena is expected to take about 30 months, with a target opening by the end of 2031. The option agreements mark a step toward that timeline rather than a completed purchase, leaving terms and a closing date still to be determined.
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