Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
City of Dallas Shows Off Latest Convention Center Master Plan
It sounds like a great deal. Revamp your convention center and let other people pay for it. Dallas is hoping a recently approved hotel occupancy tax will be enough to allow the town to follow through on its ambitious plan. It’s expected to be done by 2029 and cost $3 billion.
The city updated its master plan last week. They hope to change the current, hodgepodge, piecemeal approach into a more cohesive plan. The master plan frees up 30 acres of developable land, which can be used for residential and commercial space. The convention center itself will have more than double its current meeting room space which allows them attract more conventions. The total will be 800,000 square feet of exhibit space and 460,000 square feet of meeting room space, 25% more than they currently have.
The new plans must be creating a buzz. 22 conferences have already signed deals for 2030 and beyond, just on the promise of the new-build convention center. The city estimates $630 million in spending from those conventions alone.
- ◦Development
- ◦Financing
- ◦Policy/Gov't