The urban development arm of Hillwood already has active plays in downtown/Uptown, and Frisco. Now it’s planting a stake between the two with a new project the Galleria-Valley View Mall area known as Dallas Midtown.
Hillwood Urban has inked a deal with EF Properties LC to handle office development for 20 acres of land at the northeast corner of Interstate 635 and Montfort Road—the former Macy’s parcel at Valley View. It’s in the center of Dallas Midtown, bordered by I-635 on the south, the Dallas North Tollway, Spring Valley Road, and Preston Road. The mixed-use development is being spearheaded by Beck Ventures.
Hillwood’s site allows for immediate development and is not tied to the balance of the mall, said Bill Brokaw, senior vice president of Hillwood Urban. “We believe this particular Midtown location is excellent for a corporate office campus development with outstanding frontage and visibility on I-635,” he said. “We see a great deal of growth potential in the redevelopment plans for the neighborhood.
Initial designs are targeted at users looking for at least 200,000 square feet of office space. Along with the surrounding retail and multifamily amenity base, the project will offer easy access to the Dallas North Tollway. Recent announcements include hotel and multifamily developments near the Galleria complex. The revitalization of Midtown is a public-private partnership with the city of Dallas, supported by the creation of a $352 redevelopment TIF district.