10:29 AM CDT on Thursday, May 25, 2006

By JEFF BRADY / WFAA-TV

AP

The plan is to create a Times Square in Dallas.

Now under construction: A pedestrian oasis in downtown Dallas.

Victory Plaza will be bordered by two five-story buildings with high-end retail shops on the ground floor.

Modern cigar and sushi bars, a steakhouse and a European coffee lounge, plus WFAA-TV studios and an outdoor media venue unlike any other.

There will be 11 giant high-definition screens, eight of which will move side-to-side playing NBA games, movie trailers, newscasts and more.

The concept is to create a "Times Square" in the heart of Dallas.

"I think this is pretty unique," said Victory Park project manager Ron Rentfrow. "I've been in most major cities in the country, and I've never seen anything quite like this."

Victory Park has 12 million square feet under development, including 4,000 residences, to create a unique urban lifestyle.

"Spent a lot of time looking at the ground floor, how to get the energy there," said Hillwood Development executive vice-president Ken Reese. "We engaged architects out of Boston and New York who understand the pedestrian experience."

The project carries a $3 billion price tag.

It's an impressive plan, especially considering the fact that these 75 acres in the past have housed everything from power, recycling and rendering plants to a grain silo and a paint factory.

All of it is now being converted to a master-planned urban center, anchored by the American Airlines Center and designed to redefine downtown Dallas.

E-mail jbrady@wfaa.com