Mavericks Valley View Arena: North Dallas Home Values 2026

Quick Answer: In June 2026 the Dallas Mavericks announced option agreements to build a new arena and entertainment district on the former Valley View Mall site at Preston Road and LBJ Freeway in Far North Dallas, with a target opening near the end of 2031. Nothing is final yet, but large mixed-use projects like this often lift demand and home values in the surrounding neighborhoods over time. If you own near Preston Hollow, the Galleria, or the LBJ corridor, this is worth watching closely.

I have been selling homes across North Dallas since 1997, and in 28 years I have learned that the biggest swings in neighborhood values rarely start with a “For Sale” sign. They start with an announcement. A new corporate campus, a DART line, a stadium. So when the Mavericks named the old Valley View Mall site as their preferred home for a new arena, my phone started ringing with the same question from both buyers and sellers: what does this do to my house?

Here is my honest read, with the facts as they stand today and the caution that a project this size will evolve.

What Did the Mavericks Actually Announce?

In early June 2026, the Dallas Mavericks said they had entered option agreements to acquire the roughly 104-acre former Valley View Mall property in Far North Dallas, near the northwest corner of Preston Road and the LBJ Freeway (Interstate 635). The plan, as described publicly, is a mixed-use destination anchored by a new arena and surrounded by restaurants, entertainment, public green space, and family-friendly experiences.

A few details matter for homeowners trying to separate hype from reality:

• It is an option, not a finished deal. Option agreements give the team the right to buy the land. They are a serious step, not a groundbreaking.
• The timeline is long. The Mavericks’ lease at the American Airlines Center runs through 2031, and team leadership has said a new arena would take roughly 30 months to build, targeting an opening near the end of 2031.
• The location is a comeback story. The Valley View site has sat largely vacant for years as part of a stalled redevelopment. An arena would finally give that land a defined purpose.

For anyone relocating to Dallas-Fort Worth, the short version is this: a major new district is being planned for one of the most central, highway-connected corners of North Dallas, and the surrounding neighborhoods are already established and desirable.

Which North Dallas Neighborhoods Are Closest to the Site?

The Valley View site sits in the heart of Far North Dallas, which is why this announcement carries weight. These are not far-flung exurbs. They are mature, in-demand areas with limited new-construction inventory.

• Preston Hollow and the Preston Road corridor (75230, 75240): Just south and east of the site, these are some of Dallas’s most recognizable established neighborhoods.
• The Galleria area (75240, 75254): Already a shopping, dining, and office hub directly adjacent to the proposed district.
• Far North Dallas pockets along the LBJ and Dallas North Tollway corridors: Including the affordable hidden-gem neighborhoods that buyers often overlook, plus the condos and townhomes that tend to react fastest to walkable-district demand.

Proximity cuts both ways, and I tell clients that plainly. Being a five-minute drive from a new entertainment district is a lifestyle and resale advantage. Being directly on the access road that feeds 18,000 fans on a game night is a different conversation. Location nuance inside the same ZIP code is exactly where a local agent earns their keep.

Will the Arena Raise My Home Value?

This is the question everyone wants a clean yes or no on, and the honest answer is: probably, eventually, but not uniformly and not overnight.

Here is how I think about it after watching North Dallas evolve for nearly three decades. Large mixed-use projects tend to help nearby home values when they add amenities, jobs, and walkable destinations, and when access stays manageable. The Valley View site already has the bones working in its favor: central location, two major highways, and surrounding neighborhoods people already want to live in. That is a stronger starting point than a project built on raw land miles from anything.

But a few realities keep me from promising anyone a windfall:

• Timelines slip. A 2031 target is more than five years out. Markets, interest rates, and even the project itself can change.
• Construction is a grind. The years of building can mean traffic, noise, and disruption before the upside arrives.
• The premium is hyper-local. A quiet street a mile away may benefit from the prestige and amenities without the downsides. A home backing up to the district may trade convenience for congestion.

If you are buying today with one eye on this announcement, do not overpay on speculation alone. The fundamentals that have always mattered in Far North Dallas, like schools, lot, floor plan, and commute access, should still drive your decision. The arena is a bonus thesis, not a reason to abandon discipline.

[KRISTY STORY, replace before publishing: a short, true example of a past North Dallas development (a corporate campus, the Tollway expansion, Legacy West, etc.) that you watched move nearby home values, and what you told clients to do at the time. This lived experience is the strongest trust signal on the page.]

Should I Buy or Sell Near Valley View Right Now?

It depends on which side of the table you are on, and on your timeline.

If you are a seller in Preston Hollow, the Galleria area, or the broader LBJ corridor, you do not need to rush to list “before the arena.” A 2031 opening means there is no cliff. What you can do is make sure your marketing tells the full location story, because buyers relocating from out of state may not yet know how central and connected this corner of Dallas is. The Dallas County tax picture matters too, and newcomers often compare it against Collin County. I walk through that in detail in my Dallas vs Collin County property tax guide.

If you are a buyer, the window before a project is fully priced in can be an opportunity, but only if the home makes sense on its own merits today. I would rather see you buy a great house in a great Far North Dallas neighborhood that also happens to be near a coming district, than chase a mediocre house purely because of a headline.

Either way, this is a moment to get a real, current read on your specific block from someone who actually works this market every week. National price estimates and automated valuations do not capture an announcement like this.

Frequently Asked Questions

Q: Is the new Mavericks arena at Valley View a done deal? A: Not yet. As of June 2026 the team announced option agreements to purchase the site, which is a meaningful commitment but not a finalized sale or a groundbreaking. The target opening is near the end of 2031, so expect the plans to develop over the next several years.

Q: Where exactly is the proposed arena site? A: It is the former Valley View Mall property, roughly 104 acres near the northwest corner of Preston Road and the LBJ Freeway (Interstate 635) in Far North Dallas, adjacent to the Galleria area.

Q: Which neighborhoods could benefit most? A: Established Far North Dallas areas with central access, including Preston Hollow, the Preston Road corridor, and the Galleria-area pockets along LBJ and the Dallas North Tollway. Benefits are hyper-local, so the impact varies street by street.

Q: Should I wait to buy until the arena opens? A: For most buyers, no. A late-2031 opening is years away, and home prices respond to fundamentals like schools, location, and condition long before a project is finished. Buy the right home for your needs now, and treat the district as upside.

Q: Is Far North Dallas a good place to relocate to in 2026? A: For many of my relocation clients, yes. It offers central access, mature neighborhoods, and strong amenities. My moving to Dallas-Fort Worth guide and relocation resources break down neighborhoods, costs, and commute factors in depth.

Thinking about buying or selling in Far North Dallas and want to know what this announcement means for your specific home? Call or text Kristy at (972) 345-3516 for a free, no-pressure consultation.