Financing obtained for Emmitt Smith’s southern Dallas redevelopment
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Mixed-use project on Lancaster Road is near VA Medical Center.
The 4315 Innovation Center is on Lancaster Road.(E Smith Legacy )
2:16 PM on Jul 7, 2020 CDT
The real estate company headed by Emmitt Smith is pushing ahead with plans to develop a mixed-use project in southern Dallas.
The former Dallas Cowboys star bought the building on South Lancaster Road last year with plans to redevelop the property.
The space had been empty for years since the Urban League moved its offices.
The 30,000-square-foot building near the VA Medical Center will be repurposed as a new community office center and retail space called 4315 Innovation Center.
The E Smith Legacy firm has teamed up with investor American South Real Estate Fund to arrange construction financing for the renovation with Texas Security Bank.
Construction has already started.
“We are pleased to continue our work on this strategically located and well-constructed asset in the heart of this growing South Dallas market,” Tamela Thornton, head of social infrastructure development with E Smith Legacy, said in a statement. “We are excited to invite new tenants, including Cedar Valley Community College, UNT Dallas, Guru Financial and other select, community-focused businesses committed to providing services and jobs to the local community.”
The more than $6 million project will repurpose the building,
American South Real Estate Fund is based in Louisiana and California and invests in transformative real estate projects in urban markets.
E Smith Legacy is based in Dallas with offices in Baltimore and Philadelphia.
Steve Brown, Real Estate Editor. Steve covers commercial and residential real estate in Dallas-Fort Worth.