Victory would be smarter to put some reasonably priced choices in that area. Then what you would have (along with the occasional high-rollers) is a consistent client base that would bring a family down to Victory, and then the husband and wife could splurge with a night on the town sans kiddos from time to time. That's a client base.Victory is an easy target, but none of these articles break any new ground compared to what was written in early 2007.
I could be wrong, and I bet this area continues to flourish in some capacity (read: for someone other than the developers). But it may ensure a quality earnings stream by showing a kind nod to the not-so-rich.
On an up note, there are some good things on the horizon from a City budget standpoint. At the end of 2012, the Sports Arena TIF (the real name for the Victory Park TIF) expires and that tax money will flow into the city's general coffers instead of recirculating in the Victory area. That's big.
The current real estate market is tough, so I doubt that we will see much new construction in the near future. The units at Cirque are a little pricey ($1,600 for 700 SF to $2,800 and up for a penthouse) and the Vista starts at $1,100 for 670 SF. Cirque has some of the hottest looking rental units in the city. If you know anything about real estate development, new units with hot views cost money. You can't live in it for cheap; that's life.
But wouldn't it be cool to get some more moderately-priced housing options in that area? Jefferson at the North End always seems to be pretty leased up ($800 for a 1br to $1,500 for a huge 1,700 SF 2-bedroom). I remember almost moving to the North End when I first got to Dallas, but I couldn't operate a home office and be close to that much ongoing construction (the W was just getting started at the time).
I looked at a unit in the Terrace (the mid-rise, for-sale condo building), and while it had a great view it was pretty straightforward. Still, there's not many new units in the city that you can get for around $200K. The Terrace has several of them.
I will say once again what I said two years ago: once more companies office in Victory, and as more moderately-priced food and shopping options come online the area will rebound. Oddly enough, the Chili's at AAC is often packed.
Victory Park is a beautiful district, and the city will need multiple types of districts to thrive in the future. One example is the Design District in which more housing units are being built as we speak on the other side of I-35.
It's also not just about Victory Park being new and built from scratch, compared to an existing neighborhood like Knox-Henderson. That's being shortsighted. It's about creating the events that make people want to hang out when there's nothing else going on. The Nasher Sculpture Center is also considered to be a great piece of modern architecture like Victory and not "organic," but whenever they have movie night during the summer or host their "Target First Saturdays" the place is packed with families.
The area will always hold a special place for me because of the fun I had there a few months back, and from being a season ticket holder for a while. Remember back when you could park at a meter a block from AAC and hit the game? Oh the memories!
I want Victory Park to succeed, and I'm sure many others feel the same way. In terms of long-term viability, Victory Park is far from dead. All things in time.