Acadia Nears Start of East Dallas Redevelopment

Acadia Realty Trust’s vision to transform East Dallas’ Henderson Avenue corridor could begin taking shape next spring.

The New York-based firm aims to start construction on retail and office buildings in March, more than a year after paying more than $85 million for a commercial and residential portfolio on the strip, the Dallas Morning News reported.

Acadia plans to develop three commercial buildings at 2116 Henderson Avenue, an estimated investment of nearly $28 million, according to documents filed this week with the Texas Department of Licensing and Regulation.

The largest is a three-story, 90,000-square-foot building with ground-level retail and offices on the above floors. That is expected to cost a little under $18 million.

The two other buildings will rise two stories, totalling just under 50,000 square feet, also with ground-floor retail and offices above. They are expected to cost about $5 million each.

Construction could last until November 2026, according to the filings.

The buildings will sit on a below-grade parking garage, the filings say. Dallas architect GFF has been tapped as the designer.

Acadia acquired more than 160,000 square feet of storefronts and four acres of undeveloped tracts on Henderson Avenue last year. The portfolio spans about 10 blocks between North Central Expressway and Ross Avenue. The Henderson properties marked Acadia’s first purchase in Texas.

The area has been poised for a makeover for years now, as vacant blocks on the street were rezoned in 2018 to allow construction of retail, offices and restaurants, the outlet said. So far, the parcels have remained untouched, though, and this is expected to be the corridor’s first major redevelopment.

—Quinn Donoghue