Wednesday, March 22, 2017

Victory Park And The Crescent Add Retail Heavyweights

DALLAS—Consistent and wage job growth, and consumer confidence remains near decade highs, fostering a strong retail consumption environment that will support retail center performance found in these mixed-use projects.
DALLAS—The Victory Park and The Crescent bar, restaurant and gallery scene are poised for change with several new tenants joining the mix in both projects. Three of Dallas’ top food and beverage operators all will open concepts at the Victory Park mixed-used district later this year and two new restaurants and the contemporary art gallery will join The Crescent.
This & That Concepts will open a 4,232-square-foot restaurant and bar, plus a 2,600-square-foot second-floor covered patio overlooking Victory Plaza and Victory Park Lane, at the northwest corner of Victory Park Lane across from the W Dallas–Victory Hotel. The restaurant team is behind local favorites, High Fives, So & So’s and The Standard Pour.
8020 Hospitality and Brooke Humphries will open a 24,022-square-foot restaurant and entertainment concept occupying the entire ground floor of the west Victory Plaza building, in the space formerly occupied by Nove and N9NE. Led by Elias Pope, 8020 Hospitality’s other DFW-area concepts include HG Sply Co. and Standard Service.
Brooke Humphries also will open a 2,466-square-foot bar and tavern with a 1,179-square-foot covered patio inside the parking garage on Victory Avenue, across from the Arpeggio apartments. Humphries is the mind behind several local successes, including Barcadia, Beauty Bar, Mudsmith, It’ll Do Club and Pints & Quarts.
The new concepts are part of a district redevelopment led by owner Estein USA and retail partner Trademark Property Co., focused on evolving Victory Park into a more walkable urban neighborhood with a three-block, two-sided retail district on Victory Park Lane. As part of the transformation efforts, Victory is undergoing full remerchandising to include an eight-screen 750-seat CinĂ©polis Luxury Cinemas–Victory Park and retailers. Most recently, the unfinished parking garage across from the W Dallas-Victory Hotel was completed, adding 22,000 square feet of ground floor retail space. In addition, construction is underway on the mixed-use building at Victory Park Lane and High Market Street, which will include the movie theater, 20,000 square feet of new ground floor retail and 285 apartments, all of which are slated to open late this year.
“Since getting involved with Victory Park, our vision was to change what needed changing, finish what was unfinished, and merchandise and brand the district in an authentic manner, consistent with great walkable streets and districts. These concepts and operators will certainly do that,” said Terry Montesi, CEO, Trademark Property Co. “In a few short months, visitors to Victory Park won’t recognize how it looks or the experience they have when they come to Victory.”
At The Crescent, Sixty Vines, a popular Plano restaurant that is part of Dallas-based Front Burner Restaurants, is opening its second dining spot this fall, and East Hampton Sandwich Co. will open in early summer. Also, veteran gallery owners Karen and Michael Bivins debuted the Bivins Gallery a month ago. The addition of two new restaurants and the contemporary art gallery–along with the successful openings of Shake Shack, Ascension Coffee and Moxie’s Grill & Bar–builds upon a strategy to make the 31-year-old mixed-use complex a more popular gathering space in the vibrant Uptown neighborhood.
“Since the recent $33 million renovation at The Crescent, uses of the exterior spaces have increased tremendously,” said John Zogg, managing director of Crescent Real Estate Equities LLC. “With the addition of Ascension Coffee, famed New York-based Shake Shack and the American debut of Moxie’s Grill & Bar, plus the newly redefined presence of Stanley Korshak, bringing in more new restaurants and introducing an art gallery representing museum-quality artists creates a perfect balance with the other dynamic changes and new vibrancy at The Crescent today.”
See Full Article Here
Lisa Brown/Globe St.