The city of Dallas is dumping $100 million into a redevelopment plan for the 72-acre Victory Park neighborhood, which includes widening the sidewalks, adding more manicured greenery, installing new benches, and just about anything else to make this part of the city more pedestrian-friendly.
Few will argue the potential of Victory Park, as its close proximity to Katy Trial and location between Uptown and the Dallas Design District—two of the hottest neighborhoods in Dallas right now—makes it a hotspot for possible new development a huge returns for whoever does decide to build here.
Last week, plans were announced by one such developer who hopes to turn a surface parking lot into a huge, 30-story apartment tower called Katy Station.
The development, which would sit on 2.6 acres at Houston Street and Hi Line Drive, would house 461 apartments and become one of the tallest buildings in all of Victory Park, next to the W Hotel and Residences that is, which stands 32 stories high.
According to reports, Genesis Real Estate Group Inc. is buying the building site from Hillwood Properties, the original developer of Victory Park, and the overall plan calls for two, 7-story apartment blocks along Houston Street, a multilevel parking garage, and retail and restaurant space on the ground level.
If approved, Genesis Real Estate Group’s Katy Station will be just one of four apartment towers likely coming to the 75-acre Victory Park area in downtown Dallas.