Mavs, Stars departures raise questions for Downtown Dallas business owners

DALLAS - With the Mavs and Stars announcing their intentions to leave the American Airlines Center, local business owners now face a future without two sports teams driving business downtown.

What we know:

On Monday, the Dallas Mavericks announced they reached an agreement to purchase 104 acres of land at the site of the old Valley View Mall in Far North Dallas.

The location, off of Preston Road and near I-635 and the Dallas North Tollway, would see the team leave their longtime home of Downtown Dallas. The Mavericks have played downtown since their inception in 1980, first in Reunion Arena and currently in the American Airlines Center.

Public records show the Mavericks plan on spending $50.7 million for a portion of the land they intend to build the new arena on.

The Dallas Stars followed suit on Tuesday, announcing that they've signed a nonbinding agreement with the City of Plano to build a new arena and entertainment district at the Shops at Willow Bend mall site.

The Shops at Willow Bend are located off of W. Park Boulevard at the Dallas North Tollway. It is 17 miles north of the American Airlines Center. Google Maps estimates it would take about 20 minutes to drive to the Shops at Willow Bend from the AAC.

Any plans for a new arena would require approval from Plano City Council.

Local businesses on Mavs' move

Local perspective:

"No Mavs, no Stars. I think will definitely do some damage to them," Cary Thompson, who owns Velour in Victory Park, told FOX 4's Steven Dial. "But, you know, it just allows you to pivot from what you were doing to doing something different that's more profitable, possibly."

Despite the Mavericks choosing to leave downtown, a restaurant owner in Victory Park thinks the area sells itself even without pro sports teams.

"It's Dallas, it's a lot of fun things to do and attractive things to do, so it didn't really give us cause and concern," Thompson continued. "I think we're a great space to be at, and I think you're gonna come either way."

Candy Evans, who runs CandysDirt.com and regularly follows real estate in Dallas-Fort Worth, said on The Post with Lauren Pryzbyl the city must promote its downtown in a way that continues to attract residents.

"If we would draw on the authenticity of downtown Dallas, I think that's what we need to do is to find what is really Dallas about the area and promote that and people would love to go there. I love going downtown. It's wonderful, but Dallas is not just about downtown. Dallas is about the whole big sprawling city. It is sprawling, no doubt."

Dallas City Hall's future

Dig deeper:

One of the other sites the Mavericks were rumored to have been considering for a new arena is Dallas City Hall.

The team's interest in Dallas City Hall had been reported for months. Mavs CEO Rick Welts told a business luncheon in March he and Dallas City Manager Kim Tolbert had conversations "over a year ago" about using the current Dallas City Hall location for a new arena.

Now, with the team moving out of downtown, the future of Dallas City Hall takes another turn. Dallas City Council will hold a hearing on Wednesday to determine how much it will cost to repair the I.M. Pei-designed building.

What's next:

The Mavericks plan on opening the new arena and entertainment district by 2031, when their current lease at the American Airlines Center ends.

 A Plano City Council meeting on June 8 will include a public hearing on the Stars' plans for a new arena.