Monday, April 09, 2012

American Airlines Center operator, Hillwood spar over Dallas arena parking


Steve Brown
The parking lot just north of the American Airlines Center may soon close for construction.

By STEVE BROWN
Real Estate Editor
stevebrown@dallasnews.com


Hundreds of fans who attend games at American Airlines Center in Dallas may soon be parking in a new location.

That’s because the operator of the Victory Park arena and developer Hillwood Investments haven’t reached an agreement regarding the large parking lot just north of the popular sports and entertainment venue.

Late last month, Hillwood said it would close most of the six-acre parking lot soon to make way for an apartment development.

Houston-based developer Camden Property Trust has the land under contract to purchase, real estate brokers say.

The shutdown of the lot right at the arena’s door means the loss of 600 prime parking slots.
Arena manager Center Operating Co. asked if Hillwood could put off closing the lot until the professional basketball and hockey seasons are over in summer.

But Thursday, Hillwood put out a statement that it couldn’t go along with the deal.

“For more than a week, we’ve negotiated with Center Operating Co. regarding its request to continue using parking Lot F for Dallas Mavericks’ and Dallas Stars’ games through the end of the current season, including any playoff games,” Hillwood representatives said in an email.

For complete article please visit:  http://www.dallasnews.com/business/commercial-real-estate/headlines/20120405-american-airlines-center-operator-hillwood-spar-over-dallas-arena-parking.ece?action=reregister