One of Dallas’ most popular Uptown destinations is in the midst of a major refresh, breathing new life into the area for visitors, residents, property owners and tenants alike.
Victory Park is easily one of the most recognized areas of Dallas. The neighborhood includes American Airlines Center and the adjacent AT&T Plaza, a lively and inviting square that is also bordered by two five-story office buildings and Olive Street, one of Uptown’s busiest avenues. Nearby, Victory Park also includes luxury apartments and condos, high-end hotels and dozens of upscale shopping and dining destinations.
The early beginnings of Victory Park date back to 2006, when the Victory Plaza Buildings were built at the steps of the American Airlines Center. Since then, it has evolved into a dynamic 75-acre mixed-use development. And this year, an extensive redevelopment project is adding 85,000-square-feet (sf) of new retail space, while also making changes to maximize the area’s walkability.
One of the most visible parts of the renovation includes the installation of new digital video boards throughout Victory Park. The original screens were installed more than 10 years ago, and the LED displays had reached the end of their lifecycle. The screens were failing daily and, as a result, were costing more to maintain while bringing in less ad revenue.
Now, the revitalized Victory Media Network includes state-of-the-art 10mm displays that help create a “Times Square” feel for Victory Plaza, while also engaging the newer South Victory District. Plus, new architectural lighting along the façade of each building facing the Plaza can be used to create a compelling LED light show programmed for different events and seasons. The new displays are also linked to digital screens along Victory Park Lane that can simultaneously broadcast content to create more of a cohesive display throughout the area.
The new screens enhance the customer experience throughout Victory Park, especially as the area welcomes several new restaurants, including the recently opened Mesero, Billy Can Can and Imoto; a Cinepolis movie theater; other retail, including the Sweet Tooth Hotel; and Orange Theory Fitness. Meanwhile, WeWork and Rebees will open coworking offices early next year in Victory Park, increasing the number of daily visitors that the area sees.
Cushman & Wakefield has provided third-party asset management, accounting and property management services for Victory Park since January 2011. Kyle Vinson, the Senior Portfolio Manager, said replacing all digital technology required a $5 million capital investment. Since the installation, sales have exceeded projections and, since the technology is new and working as expected, expenses are significantly lower.
Vinson says the project has breathed new life into Victory Park at exactly the right time, especially as commercial real estate in Uptown grows at a breakneck pace.
“The new digital screens and kiosks are helping to enhance the rapid growth and development of the Victory Park experience,” he said. “Our client is extremely pleased to have gone from an outdated, underperforming asset to now having one of the most unique outdoor digital platforms in the country.”