Provident, Kroenke Group to Sell Victory Park Development Site

A Victory Park site that’s ripe for development is up for grabs.

Dallas-based Provident Realty Advisors and Missouri-based Kroenke Group have hired Foundry Commercial brokers Marty Neilon, Alex Perry and Zach Hartzer to sell the 3.6-acre parcel at 703 McKinney Avenue, the Dallas Morning News reported.

The property, bordered by Houston Street, Continental Avenue and Stemmons Freeway, comprises mostly surface parking and a 141,000-square-foot commercial building. The building at 703 McKinney Avenue was developed in the 1880s as a brewery, and it was the site of the legendary Dallas nightclub the Starck Club.

The sellers are playing up the offering as a redevelopment opportunity, with options to renovate or expand upon the existing structure.

“This site is and has been a quintessential part of Dallas’ history,” Provident CEO Leon Backes told the outlet.

In 2016, Provident began shaping its own development for the site, with plans to add two floors to the former brewery and convert it into an office complex, alongside an apartment high-rise with more than 300 units, the outlet reported. It’s unclear why the project never got off the ground, though. And the firms’ exact reason for selling is vague.

The Starck Club, founded by Preston Hollow scion Blake Woodall, was designed by French industrial designer and architect Phillippe Starck. It was open from 1984 to ’88 and drew celebrities such as Annie Lennox, Andy Warhol, Prince and Rob Lowe. The building also has a 50-foot well inside. When it housed a seafood restaurant called Newport’s in the ’90s, the staff reportedly used to strip down and dive in after closing.

Provident and Kroenke have collaborated on previous projects, including mixed-use development Preston Hollow Village and selling land for the 80-acre Midtown Park development, both in North Dallas.

Victory Park, just south of the burgeoning Uptown area, is seeing an uptick in development activity. Houston real estate titan Hines recently unveiled plans for its second apartment tower in the neighborhood. The 497-unit, 28-story project will rise near Hines’ 39-story Victor apartment tower and its 17-story One Victory Park office building.

Plus, Goldman Sachs is building a $500 million office campus in the area, which will be part of Hunt Realty’s NorthEnd, an 11-acre mixed-use hub slated for office, retail, residences and hotel rooms surrounding a 1.5-acre urban park.

—Quinn Donoghue