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 include 161,000 square feet of space, featuring 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 serve as a key link extending Knox Street eastward and tapping into demand from East Dallas residents. CBRE’s Elizabeth Herman Fulton described the project as “releasing a stopper,” suggesting it will unlock new potential for the corridor.
Knox Street has been recognized as one of Dallas’ primary shopping areas. However, the segment across Central Expressway—where Knox becomes Henderson—has not seen comparable growth. Developers believe that enhancing Henderson Avenue will help establish a prestigious retail corridor in Dallas. Rob Darnell, Vice President of Research at Weitzman, stated: “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 the luxury appeal of Knox Street. Over 70 shops and restaurants now operate in the area. According to Fulton, rental rates range from double digits per square foot up to triple digits—levels similar to those found in Los Angeles shopping districts.
The proximity of Knox Street to the Katy Trail has also increased its value by attracting affluent residents from nearby neighborhoods. Additional luxury high-rise developments are expected to bring more wealthy individuals into the area.
A separate project led by Trammell Crow Company—a subsidiary of CBRE—and partners is underway at 3319 Knox Street. This development includes a planned 150-unit luxury condominium tower and an Auberge Resorts Collection hotel set to open next year. It will also add another 90,000 square feet of retail space.
According to Henley & Partners, the number of millionaires in Dallas-Fort Worth has risen by 85 percent over the past decade. This increase signals continued demand for high-end retail options in the region.
Elizabeth Herman Fulton said: “The project is like ‘releasing a stopper.’”
Rob Darnell added: “If Highland Park Village is Dallas’ Rodeo Drive, then Knox/Henderson will be Melrose Avenue and Abbot Kinney Boulevard.”
Fulton noted: “Knox Street’s connection to the Katy Trail adds value akin to waterfront property, drawing affluent residents from nearby neighborhoods.”
