08 Apr 2016

Behind the redevelopment vision for Southwest Center Mall in South Dallas

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It’s been seven months since Dallas investor Peter Brodsky acquired Southwest Center Mall in southern Dallas with the hope of redeveloping the aging mall — and now he’s taken that next step by hiring Corinth Properties to assist in the efforts.

The Dallas-based retail development firm has a history of success in southern Dallas County, with the firm’s Frank Mihalopoulos honored at the Dallas Business Journal’ s Best Real Estate Deals awards dinner by Dallas Mayor Mike Rawlings for his efforts in the southern part of the city.

Brodsky, founder and partner of Dallas-based HBC Investments, said his vision is to transform Southwest Center Mall into a high-quality, family-oriented retail, entertainment and dining destination for the southern Dallas community.

“We want to enliven the property by locating housing, businesses and amenities for the community,” he said, adding that Mihalopoulos and Corinth Properties’ Terrence Maiden share this vision.

“They care about the southern Dallas community and have led many successful development there,” Brodsky added.

Corinth Properties is currently working on The Canyon along Interstate 30, as well as additional phases at Glen Oaks Crossing along Interstate 35E. Brodsky hopes for similar results for Southwest Center Mall, which sits on 90 acres of land.

Plans for the acreage surrounding the mall include developing a mixed-use project for Dallas residents to live, work, shop and play in, and create a catalyst for surrounding development.

“This property is a diamond in the rough, with all the characteristics needed to be turned into a first class asset for this city,” said Mihalopoulos, who is the founding partner of Corinth Properties.

Maiden, who is a vice president with Corinth Properties, said the redevelopment of Southwest Center Mall will be important to the south Dallas community.

As part of the redevelopment, the mall could revert to its former name Red Bird Mall. Mihalopoulos said a decision has yet to be formally made on the new name of the mall.

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