Hillwood/Hines

Momentum at Dallas' Victory Park continues to build as Hines and Hillwood have announced plans to develop a two-phase, two-building, 800,000-square-foot class A office complex just north of downtown Dallas. The first phase, One Victory Park, will be an 18-story, building overlooking Victory's

Encompassing the southern end of the 75-acre Victory district and surrounding a one-acre urban park, the Victory Park phase will debut a dynamic collection of mid- and high-rise buildings. In addition to One Victory Park, eight buildings are scheduled for completion between 2006 and 2008, comprising an unprecedented mix of high-end urban residential, boutique retail, world-class dining, modern and technologically advanced office space, and Texas' first W Hotel.

"Hines is the perfect partner for the office program at Victory Park," said Ross Perot Jr., chairman of Hillwood. "Their experience and resources will help us create one of the world's most dynamic urban districts." Hines, with projects all over the world, has been active in the Dallas market for 30 years. Its developments include the 3.7-million-square-foot Galleria mixed-use center.

Victory, owned by Hillwood and Hicks Holdings, is a $3-billion plus, 75-acre urban district ideally situated adjacent to the downtown Central Business District and Uptown. Victory is currently home to the $420-million American Airlines Center.