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March 13 , 2013

Congratulations Village On The Parkway | DCEO | Best Redevelopment: Finalist

Congratulations Village On The Parkway | DCEO | Best Redevelopment: Finalist

The editorial panel judging D CEO’s Commercial Real Estate Awards program had a hard time narrowing their choices for finalists in the Best Redevelopment or Renovation category. That’s why five contenders are up for the award. And they’re as diverse as they are remarkable.

They include a massive data center in Carrollton from CyrusOne, a former coffin warehouse that’s now the NYLO Dallas South Side Hotel, the transformed SPCA of Texas Animal Care facility in South Dallas, Tyler Technologies’ creative office redevelopment of a former YMCA center in Plano, and the adaptive reuse of the iconic Village on the Parkway in Addison. The winner will be revealed at the March 20 awards program at the Hilton Anatole Hotel.

Village on the Parkway

The redevelopment of Village on the Parkway in Addison is one of the largest adaptive reuse of retail space the area has seen in decades. One of the first lifestyle centers built in the United States, the property was acquired by The Retail Connection, Lincoln Property Co., and Fidelity Real Estate Group in April 2011. The partners immediately developed a repositioning plan for the seven-building, 380,000-square-foot complex at the Dallas North Tollway and Belt Line Road. At the top of the list: a specialty grocer for the revamped northern end, and an entertainment zone with a movie operator on the southern end.

They found them in Whole Foods, which will open a 40,000-square-foot store in March on the site of a demolished former Bed Bath & Beyond, and AMC Theatres, which is bringing its new “luxury movie-going” platform to Village on the Parkway. The 48,000-square-foot theater will be one of just three such venues in the country. “The two anchor zones will bookend and energize the activity for the pedestrian-friendly interior shops,” said David Wilson, president of TRC Connected Development Services.
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