Dallas Stars eye move to Plano with new arena development
The Dallas Stars have taken a major step toward leaving Downtown Dallas, announcing plans for a proposed new arena and entertainment district in Plano that could reshape the future of the franchise and the American Airlines Center.
Tuesday, the Stars announced that it submitted a signed, non-binding letter of intent for a proposed sports and entertainment district at The Shops at Willow Bend.
The team said that the proposed mixed-use development, being advanced jointly with Levin Holdings & Cawley Partners and Centennial, could include sports, entertainment, retail, dining and public gathering spaces "anchored by a future Dallas Stars arena."
"This project would present a once-in-a-lifetime opportunity for our franchise," said Tom Gaglardi, the Dallas Stars' owner, governor and chairman. "We eagerly await the vote by the Plano City Council and look forward to continuing the conversation to be part of the redevelopment of The Shops at Willow Bend."
According to the letter of intent, the city is expected to contribute up to $700 million in funding toward the project from TIRZ revenue and other available funds. Development costs for the arena are expected to be around $1 billion.
In February, Dallas City Council Member Chad West revealed that Plano formally pitched the Stars on relocating to Collin County.
"Plano has built a reputation as a city that welcomes world-class partners and community-focused investment," Plano Mayor John Muns said. "The Dallas Stars are an iconic North Texas organization, and we are encouraged by their interest as conversations move forward."
The Stars' arena search has been unfolding at the same time the Dallas Mavericks pursue plans for a new home of their own. The Mavs announced on Monday that it is pursuing the former Valley View Mall site for a new arena and entertainment hub.
"We have met with the Dallas Stars and learned they have signed a non-binding letter of intent related to a potential arena project in Plano," Dallas City Manager Kimberly Bizor Tolbert said in a statement. "The Stars have been an important part of our city and community, and we value our longstanding partnership. We will continue conversations with the organization and work collaboratively to ensure the Stars remain playing in Dallas, where generations of fans have built lasting memories since 1993."
According to the Plano city council agenda, the meeting on June 8 includes the letter of intent and other documents that outline how Plano would create a Tax Increment Reinvestment Zone that covers 900+ acres, and that the city would own the arena and the arena site and lease the arena site to DSE for a 30-year term.
Mavs win dispute over AAC
Last month, a Texas judge ruled in favor of the Dallas Mavericks in their lawsuit against the Dallas Stars, handing over control of the American Airlines Center to the Mavs.
Dallas Sports Group, the company that owns a controlling stake in the Mavs, sued the Stars in Texas Business Court last year, accusing the Stars of blocking needed upgrades to the aging arena and violating their lease agreement.
The Mavericks claimed that they wanted to spend millions of dollars to improve the facilities, but the Stars resisted. The Mavs then sued to kick the Stars out of their partnership.
While the American Airlines Center is owned by the city of Dallas, the teams shared ownership of a corporation that has a long-term lease to operate the arena. As part of the lease, both teams are required to maintain their corporate headquarters in the city of Dallas through 2031. The Mavericks also argued that the Stars had relocated their headquarters to Frisco.
Both teams' leases at American Airlines Center run through 2031.
With both teams now exploring new locations, questions remain about the future of the American Airlines Center. Arena officials have not yet responded to a request for comment.
