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Dallas Area Rapid Transit's (DART) board last week approved a Victory Plaza development agreement with Anland North Commercial LP.
The pact covers the financing, design, engineering and construction of DART's planned 1-acre plaza in the Victory Park neighborhood in downtown Dallas. Following the project's completion, Anland North will maintain Victory Plaza for 10 years through the Victory Owners Association, DART officials said in a press release.
DART acquired the land during construction of a light-rail line. The agency pegged the site for a future plaza that would connect Victory Station to the American Airlines Center and Victory Development.
Anland North owns about 3 acres north of and adjacent to the DART property, and plans to develop a 350,000-square-foot office building and 13,000 square feet of retail space on the land.
Anland North's new development is estimated to employ 1,200 people, generating about 180 new riders per day in the area for DART, officials said.