$2B mixed-use 'destination' proposed near DFW Airport

Developers are planning a $2 billion development on more than 140 acres spanning far east Fort Worth and Grand Prairie.

The project, called River Central, would entail a 140-room hotel, 120,000 square feet of offices, a 56,000-square-foot concert venue, 60,000 square feet of retail, 125 townhomes, 1,200 apartments and 50 acres of open space. The development will be near the CentrePort rail station, which is 4.8 miles from Dallas-Fort Worth International Airport.

Plans are working their way through City Hall, and a member of the development team recently provided Dallas Business Journal with updates on the timing and design of River Central. | Read more on the plans.

Plus, American Airlines was hit with a $50 million fine for disability negligence; H-E-B buys more land for another potential store; Professional Bull Riders, LLC to be acquired by Ultimate Fighting Championship and WWE owner; and more pieces of big multimillion-dollar mixed-use plan in Frisco win approval.

…

Don’t miss out on the latest business news in Dallas! Sign up for the Dallas Business Journal’s email newsletters. Love our stories? Consider subscribing for less than $4 a week.

…

Trademark Property CEO doesn't mind spending $500K on public art

Terry Montesi does not consider himself an artist. But as chairman and CEO of Fort Worth-based Trademark Property Company , art plays an important role in the larger canvas of his developments.

That art comes in forms ranging from a bronze donkey at a shopping center in The Woodlands, outside Houston, to a display of old carousel horses from the former General Dynamics and Lockheed Martin recreation center in a Fort Worth development called Waterside.

Montesi, who is looking to continue making his mark in Fort Worth and across Texas and the United States with new developments, shared how his love of art works into his real estate strategy. | Read more.

…

Dallas cedes No. 1 new home market designation in Texas

Dallas-Fort Worth has lost its spot as the No. 1 new home sales market in Texas, according to a new report.

DFW, which led all Texas metros in sales of newly built homes for much of 2023, has been No. 2 to Houston every month in 2024, according to data from Dallas-based HomesUSA.com. A single month or quarter might represent an aberration but the consistent results underscore how the Bayou City has become the state's home construction leader.

New home sales in Dallas-Fort Worth posted a three-month moving average of 1,848 in September. | See how other markets fare in comparison.

?

-

Download the free DBJ app for breaking news alerts on your phone!

-

?

Nextdoor CEO wants to reconnect neighbors with social media, do so from Dallas

The decision to return as CEO of Nextdoor came from the heart for Nirav Tolia .

His belief in the app's purpose led him back to the company he helped found more than 15 years ago. And since Tolia and his family relocated to Dallas a few years ago, his leadership of the social network for neighbors is now a topic of considerable interest in the North Texas business world.

"When you start something and you're the founder, it's something that affects you in the heart, not just in the head," he said. | Read more.

…

Southwest and Elliott strike deal to end proxy fight

Southwest Airlines announced early Oct. 24 an agreement with activist investor Elliott Investment Management L.P. that will reshape the Dallas-based airline's board and avert a proxy fight.

Gary Kelly , chairman of the board and former CEO of Southwest will also step down next week at the start of November, instead of the original plan to retire next spring.

Six new directors are being added to the Southwest board. They include five of Elliott’s nominees along with Pierre Breber , the former chief financial officer of 雪佛龙 .

The deal means Southwest CEO Bob Jordan will remain in the top job. | Read more about the deal.

…

This edition was curated by Digital Editor Alexa Reed . Have questions, comments or concerns? Reach out!

?