Acadia Realty Trust and Ignite-Rebees are developing a mixed-use project on Henderson Avenue in Dallas, aiming to transform the area between Uptown Dallas and Lakewood into a prominent retail destination. The development will feature 161,000 square feet of space, including 75,000 square feet dedicated to walkable retail, 12,000 square feet for restaurants, and 74,000 square feet of office space.
Currently under construction with 11 buildings, the project is intended to extend the appeal of Knox Street eastward and attract demand from East Dallas residents. CBRE’s Elizabeth Herman Fulton described the initiative as “releasing a stopper,” according to Bisnow.
While Knox Street has been known as a shopping hub in Dallas, its continuation across Central Expressway—where it becomes Henderson Avenue—has not seen the same level of activity. Developers believe that this new project will help Henderson catch up and elevate its status within the city’s retail landscape. Rob Darnell, Vice President of Research at Weitzman, said: “If Highland Park Village is Dallas’ Rodeo Drive, then Knox/Henderson will be Melrose Avenue and Abbot Kinney Boulevard.”
Recent openings by brands such as Ralph Lauren, Kith, and Jones Road Cosmetics have contributed to a growing luxury presence on Knox Street. There are now more than 70 shops and restaurants in the corridor. Rents have increased significantly; Fulton noted that lease deals range from double digits per square foot to triple digits—levels comparable to major Los Angeles shopping areas.
The proximity of Knox Street to the Katy Trail has also enhanced its value by attracting affluent residents from surrounding neighborhoods. Luxury highrises are expected to bring additional wealth to the area.
A separate development by Trammell Crow Company—a subsidiary of CBRE—and partners includes a planned 150-unit luxury condominium tower and an Auberge Resorts Collection hotel at 3319 Knox Street. This project is scheduled to open next year and will offer another 90,000 square feet of retail space.
According to Henley & Partners, there has been an 85 percent increase in millionaires living in Dallas-Fort Worth over the past decade. This trend indicates continued growth in demand for high-end retail options.
