D ECONOMY: NEWS
Dallas Supports $8 M Grant for the Historic Forest Theater
On November 13, the Dallas City Council unanimously approved an $8 million community development grant to support Forest Forward's redevelopment of the historic Forest Theater, a key cultural and physical asset that has been closed since 2008. Located at 1918 Martin Luther King Jr. Boulevard in South Dallas's Forest District, the theater is the focal point of a revitalization project estimated to cost $81 million. Forest Forward has already invested over $15 million in selective demolition and environmental remediation efforts.
The project includes renovation of the existing historic theater plus the addition of 28,000 square feet as a new black box theater and additional lobby space. Upon completion, the redeveloped Forest Theater facility is expected to host more than 140 events annually.
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Dallas Council Supports Financing Package for Malcolm's Point Retail Center
On November 13, the Dallas City Council unanimously approved a $1.5 million incentive package to support the development of the Malcolm's Point Retail Center, a project led by SouthFair Community Development Corporation (CDC) at the corner of Al Lipscomb Way and S. Malcolm X Boulevard.
The $2.3 million project includes a new 4,800-square-foot building that will house the SouthFair CDC offices as well as Aunt Irene's Kitchen. The project will bring much-needed retail, restaurant, office, and community space to South Dallas, with neighborhood-based small businesses also expected to co-locate in the SouthFair CDC office space.
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