The Shops at RedBird—a $200 million redevelopment of the former Southwest Center Mall in Southern Dallas—is seeking new investment partners to advance the project, according to the Dallas Morning News.
A major revitalization project for Southern Dallas, RedBird has transformed the 100-acre mall site into an increasingly vibrant—and vital—mixed-use resource for the area.
RedBird’s owners have hired commercial property firm Jones Lang LaSalle to “arrange structured equity from a third-party investor to recapitalize the current partnership and fund future growth opportunities,” according to the DMN’s Steve Brown.
“We have tons of opportunities to invest and want to strike while the iron is hot,” the project’s lead developer, Peter Brodsky, told the DMN. “In the current debt environment, that requires more equity.” Brodsky confirmed that the owners have no plans to sell the property and are merely seek growth capital.
Brodsky is the recipient of the 2023 J. Erik Jonsson Ethics Award from SMU’s Cary M. Maguire Center for Ethics and Public Responsibility. His work on the RedBird project along with his extensive nonprofit board leadership and volunteer efforts were cited by the center.
Innovation center, UT Southwester clinic are key recent additions at RedBird
In May, nonprofit entrepreneurship ecosystem builderThe DEC announced the launch of “a groundbreaking initiative” with the construction of a $2.1 million, 20,000-square-foot innovation center at RedBird. Known as The DEC Network’s RedBird Innovation Center, the facility will be developed alongside a recently announced Tom Thumb grocery store, marking a significant step in the revitalization of the former mall.
Last August, UT Southwestern Medical Center at RedBird opened as a 150,000-square-foot clinic that instantly became a core feature of the redeveloped mall. Located in a former Sears store, the new clinic marked the first time UTSW had transformed a former retail space into a regional medical center.
You can find out more by reading the DMN story here.
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