A multi-story cinema complex and a high-end gym appear in architectural renderings released today for a remodel of Wynnewood Village Shopping Center.
The center’s owner, New York-based Brixmoor Property Group, told the Dallas Morning News that it is planning to pour around $30-million into the long-neglected complex, originally built in the 1940s.
Matthew Berger of Brixmoor told the newspaper that the company expects to finalize “two large tenant leases” within the next 60 days but didn’t reveal the details.
The shopping center has had the same ownership since 2002. Brixmoor this year bought a 24,254-square-foot medical office building at Wynnewood, which it plans to tear down, the newspaper reported.
The company is planning landscaping and paving improvements and to make the roundabout a focal point of the center. A later phase of development is expected to include development of the land formerly occupied by Montgomery Ward.
The City Design Studio in 2014 proposed a couple of ways to reconfigure Wynnewood.
City Councilman Scott Griggs says he’s been working with Brixmoor since he took office. It’s been a longtime coming. High rises are now going up in the once esoteric Bishop Arts District, and residential real estate prices have doubled and tripled in Oak Cliff this decade, but less new commercial development has occurred further south.