The Dallas Mavericks have selected the former Valley View Mall site in North Dallas as the future home of a new arena and entertainment district, ending months of intense speculation about the NBA franchise’s long-term real estate plans.
The team said it has entered into option agreements for the potential purchase of approximately 104 acres of the 110-acre site, located on the north side of LBJ Freeway east of Preston Road. According to an SEC filing by Seritage Growth Properties, which owns nearly 20 acres of the site, the Mavericks are spending $50.76 million for that portion of the land. The total investment for the full site is expected to be significantly larger.
The Mavericks’ current lease at American Airlines Center expires on July 28, 2031, and the organization has made clear its intention to have the new basketball-focused arena completed by that date. The Dallas Morning News called the decision a seismic one that could reshape Dallas’ sports and entertainment landscape for decades.
The Valley View site has been the subject of various redevelopment proposals since the mall closed. At one point, the property was slated to become a massive International District, but that plan never materialized. The long-vacant site is now poised for a transformation that could include restaurants, entertainment venues, retail, and residential components anchored by the arena.
The selection effectively ends speculation that the Mavericks might pursue the Dallas City Hall site, which had been a controversial possibility. Many in the community had advocated for preserving the I.M. Pei-designed City Hall, while others questioned the cost of renovating the landmark.
Real estate analysts say the Mavericks’ investment in North Dallas could catalyze broader commercial development along the LBJ corridor, which has seen significant residential growth but remains underdeveloped in terms of entertainment and mixed-use amenities. The arena district is expected to generate substantial tax revenue and job creation, though construction timelines remain ambitious given the 2031 target.
Source: Dallas Innovates | Business of Dallas
