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It was a scene that had been repeated many times before in many locations. What made the death of Prestonwood Town Center in Dallas, Texas different was the age and demographics of the mall. The location, at the Dallas North Tollway and Belt Line Road, was one of the wealthiest in Dallas County. The center was new, modern, well illuminated, and certainly had the drawing power of any mall around.
When the mall was opened in 1979, the city of Dallas was not nearly as overmalled as it has become. Valley View Center (which is becoming a dead mall in its own right) was a short drive down Montfort Drive or the Tollway, and the Galleria Dallas was not yet open.
The center opened with much fanfare with Neiman Marcus, Lord & Taylor, JCPenney, Joske's (which became Dillard's in 1987) and an anchor that didn't fit the center, Montgomery Ward. After Ward's 1985 departure, a manager for the company commented, "People shopping Prestonwood weren't going to shop us after shopping Neiman's." The site was replaced by a Mervyn's.
In 1982, Galleria Dallas opened with Macy's, a beautiful Marshall Field's, and Saks Fifth Avenue. The next year, Bloomingdale's opened at Valley View. The expansion and opening soon began to take its toll on what was the prestigious Prestonwood.
Additionally, by 1994, the mall was a notorious hangout for teens, drawn by the large food court and the skating rink. It became extremely difficult for customers and mall managers alike.
A renovation announced in 1996 never materializes, and many stores have the original interiors of their openings. In September 1997, JCPenney closes its anchor; Mervyn's closes as well. When a new mall in Plano is announced, Neiman Marcus and Lord & Taylor announce they will relocate. By 1999, they are the only two stores left in the center.
The year 2000 brings a new owner to Prestonwood: Goldman Sachs' Archon Group, for whom I worked while this deal was closed. Despite the bloodbath in the telecom industry, an ever-confident Archon announces it will make Prestonwood into a telecom center called Genisus Dallas North. The plans never fully come to fruition, as half of the center is complete, half is not. By October 2003, Archon announces that it will no longer pursue Genisus Dallas North and Prestonwood will be replaced by an open air center that has still yet to be built.
Neiman's and Lord & Taylor soldiered on-- but the nail in the coffin was the hit and run death of an elderly woman shopping at Neiman's in 2001. No one else wanted to go there afterward. By summer 2004, Prestonwood Town Center was completely gone.
What happened? Well, the usual traffic snarls around one of the deadliest intersections in Dallas wasn't helping. The teens didn't help. The downsizing of stores, of which JCPenney was first, was the beginning of the end. It appears to be a number of things, but it was a sad sight to see.
I came across this site and found it incredibly fascinating. I even looked up the mall I practically grew up in (I hung out there from the age of about 13 to 19) and felt inclined to add some tidbits:
Prestonwood was notorious as a hang out spot for teenagers for a wide variety of reasons:
When the Minnesota North Stars were moved to Dallas in 1993, the Stars did not have their practice facility built yet. There were no ice skating rinks in Dallas at the time except in a couple of malls. It was decided that the Stars would practice at this mall until their new facilities were built. The rink inside Prestonwood didn't have glass above the boards. There was no netting beind the goals. The first and last few practices there mainly consisted of passing and skating drills.
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