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, with 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 underway, the project is intended to extend the commercial appeal of Knox Street eastward and attract demand from East Dallas residents. CBRE’s Elizabeth Herman Fulton described the initiative as “releasing a stopper,” highlighting its potential impact on local commerce.
While Knox Street has established itself as a major shopping area in Dallas, the section across Central Expressway—known as Henderson—has seen less activity. Developers believe that their investment will help elevate Henderson’s profile and contribute to creating a prestigious retail corridor. 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 additions such as Ralph Lauren, Kith and Jones Road Cosmetics have opened locations on Knox Street this year. These new retailers join more than 70 shops and restaurants already operating in the area. According to Fulton, lease deals now range from double digits per square foot up to triple digits—a level comparable to popular shopping districts in Los Angeles.
The connection between Knox Street and the Katy Trail enhances property values by attracting affluent residents from surrounding neighborhoods. Fulton noted that this link offers value similar to waterfront properties. The region already has a wealthy population base; upcoming luxury highrises are expected to increase that number further.
In addition to Acadia Realty Trust’s development efforts, Trammell Crow Company—a subsidiary of CBRE—and partners are building a luxury condo tower with 150 units along with an Auberge Resorts Collection hotel at 3319 Knox Street. This project is scheduled for completion next year and will feature another 90,000 square feet of retail space.
Data from Henley & Partners shows that the number of millionaires living in Dallas-Fort Worth has increased by 85 percent over the past ten years. This trend indicates growing demand for upscale retail options throughout the city.
“Knox-Henderson envisioned as Dallas’ answer to LA’s Melrose Avenue,” said Eric Weilbacher.
