The NBA franchise seeks to rezone the site. The request comes three months after the Mavericks said they were leaving the city’s urban core.
By: Nick Wooten,Staff Writer
The Dallas Mavericks have taken the first official step toward building their new multibillion-dollar arena and entertainment district at the site of the former Valley View mall.
The NBA franchise announced Wednesday morning that it has filed a rezoning request for roughly 112 acres, which would cover the entire mall site and additional parcels along Alpha Road and Montfort Drive. The former mall sat on 110 acres. The Mavericks seek to amend an existing planned development district and create a new subdistrict that allows a sports and entertainment campus on the site.
The zoning change process begins just over three months after the Mavericks executed option agreements to purchase 104 acres off the LBJ Expressway — a move that would end the franchise’s 46-year stay in the urban core and deal a major blow to city and business leaders who sought to bring the project downtown on land that includes the current City Hall to reinvigorate investment and development around the site.
“We are excited to announce the next step toward a new home in Dallas. Today, we have formally begun the zoning change process to pursue a new Dallas Mavericks arena and entertainment district at the former Valley View Mall site,” the team said in a statement. “We look forward to working closely with the community as the process moves forward.”
Mavericks CEO Rick Welts said in January that the team had narrowed its potential Dallas sites to two: Valley View and an unspecified downtown site. Multiple people familiar with the negotiations said the City Hall site was broached by City Manager Kimberly Bizor Tolbert, city officials and downtown developers rather than the basketball franchise.
Multiple people close to Patrick Dumont said he grew increasingly leery of becoming the face of a movement to tear down City Hall. In addition to concerns about availability, the Mavericks were worried about access to and from the City Hall site on game and concert nights.
The Valley View site is owned by Dallas-based Beck Ventures, Seritage Growth Properties and health club operator Life Time Inc. Beck purchased a majority of the site in 2012.
Beck Ventures CEO Scott Beck previously declined to provide details about the agreement with the Mavericks. However, he said the move could support future development across the city. The former Valley View mall site sits within a tax increment financing district created to redevelop underutilized malls in the city, including The Shops at RedBird, formerly known Southwest Center Mall and Red Bird Mall, in southern Dallas.
Beck said the deal could unlock tax increment financing funds for the Red Bird area.
While most of the option agreements remain private, filings with the Securities and Exchange Commission show that the Mavericks would pay just under $51 million to Seritage for about 20% of the Valley View site.
The Mavericks-affiliated group made its first option payment of $169,200 after signing the option agreement. The NBA franchise will continue making monthly option payments. Monthly payments will be $126,900 for the remainder of 2026. The payments reach a high of $274,950 per month from Jan. 1, 2027, through Jan. 1, 2028, until the purchase agreement is fulfilled or terminated.
The closing date for the sale would be Jan. 31, 2028, or 90 days after the entitlement period expires — whichever comes first. The full purchase price of the site has not been disclosed.
Legal filings and speculation followed in the wake of the Valley View announcement. Former Mavericks owner Mark Cuban filed and later withdrew a pre-suit legal petition against Dumont over the structure of the arena deal. Cuban accused Dumont of engaging in “adversarial business practices.”
The Mavericks reemphasized their intention to build at the Valley View area last month. However, the team has not fully committed to the site yet. The option-to-purchase agreement is a safeguard as the franchise works through zoning, entitlements and financing for the development.
It’s unclear when the zoning request could appear before Dallas’ city planning commission or the City Council.
Staff writer Brad Townsend contributed to this report.
Correction: In an earlier version, the name of the mall in southern Dallas was incorrect. It is now called The Shops at RedBird.
This story was updated with additional information about the Maverick’s monthly option payments.
Senior Real Estate Reporter
Nick is the senior real estate reporter for the Dallas Morning News. He previously worked as a digital investigative reporter at 11Alive, Atlanta’s NBC affiliate. He’s produced award-winning state politics coverage and feature reporting at Georgia newspapers. Nick is a graduate of Mercer University in Macon, Georgia.
