DART board approves development agreement

The Dallas Area Rapid Transit (DART) board approved a development agreement for Victory Plaza with Anland North Commercial LP.

The development agreement allows for the financing, design, engineering, and construction of DART’s one-acre Victory Plaza with Anland maintaining it through the Victory Owners Association for 10 years following completion of construction.

DART acquired the land during construction of their light-rail line for the purpose of constructing and operating a future plaza that would connect Victory Station to American Airlines Center and the Victory Development.

Anland owns approximately three acres of property located north of and adjacent to the DART property and intends to develop it with a 350,000 square foot class “A” office building and 13,000 square feet of retail space.

Anland’s new development is estimated to employ 1,200 employees, and the impact to DART’s ridership is expected to be 180 new riders per day.