Contacts: April Reiling, (972) 721-2777 or areiling@cityofirving.org
Isaac Vasquez, (972) 721-2767 or ivasquez@cityofirving.org
Irving City Council Approves Toyota Music Factory Redevelopment Agreement
as the Entertainment District Exceeds Expectations
(IRVING, Texas) – At the Jan. 25 Irving City Council meeting City Council approved amendments to the development agreement with property management firm Brookfield Asset Management to build upon and enhance Toyota Music Factory, the city’s largest entertainment district.
The planned redevelopment includes an estimated $6.3 million in improvements to the plaza and outdoor stage, new signage and architectural graphics, and enhancement to the storefronts of several tenant spaces. The plan also allows Brookfield to seek reimbursement for up to $25 million for the cost of improvements to key tenant lease spaces. The property investment will be funded by sales tax revenues generated by the Toyota Music Factory development.
“Irving’s Toyota Music Factory is about to usher in a new era of entertainment for North Texas,” said Mayor Rick Stopfer. “Already a resounding success with an award-winning amphitheater, world-class entertainment, and international cuisine, the planned redevelopment of the plaza and outdoor areas will reinvigorate the entire space, bringing an even more spectacular and dynamic visitor experience.”
In addition to reimagining the plaza and common areas, improvements also include remodeling several storefront/outdoor patios, including Mama Tried, Reservoir and the former Green Gator location. View artist renderings.
There are plans to elevate the outdoor aesthetic with artwork and graphics. Artwork will include permanent murals, rotating displays, and interactive concepts designed to create fun, playful experiences. Developers also plan to install new site signage and wayfinding, vehicle and pedestrian signage, and interior parking garage signage.
The redevelopment comes as the Irving entertainment district development continues to consistently perform above lease requirements over the years, with leased space surpassing goals in both occupancy and open-for-business hours each week. Live performances and ticketed attendee counts also outperformed expectations, at times exceeding four times the annual goal. Sales and mixed beverage tax revenues remain strong, with fiscal year 2023 being the highest city sales and mixed beverage tax receipts since inception.
Toyota Music Factory has recently welcomed several new premiere tenants, including modern dining experience Kitchen 101, the Nashville-based hot chicken brand, The Budlong Southern Chicken, and a unique fine dining and entertainment space called The Rayleigh Underground. In addition to new dining and entertainment experiences, Toyota Music factory is also home to professional offices, including the corporate headquarters of leading healthcare staffing solutions company, Curative Talent.
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The City of Irving is home to 9 Fortune 500 corporate headquarters, over 8,500 businesses, four 18-hole championship golf courses and the DFW International Airport. Centrally located in the Dallas-Fort Worth Metroplex, Irving has a population of 256,000+ residents and is one of the most culturally diverse cities in the state and nation.