Country Club Plaza is under contract to Dallas retail company; deal could close by 2024

The prospective new owners already own a similar luxury shopping district in Dallas and another in North Carolina. After the current owners of the Plaza defaulted on a nearly $300 million loan and demolished about three acres of the district to make way for a Nordstrom that never came, city officials are eager to work with new owners.
A Dallas-based retail company is under contract to purchase the Country Club Plaza, according to CitySceneKC. The company, HP Village Partners, owns Highland Park Village, a luxury shopping district in Dallas that is similar in age and style to the Plaza.

The Plaza has been declining in recent years under the ownership of The Macerich Company and Taubman Centers, based in California and Michigan, respectively.

A longtime plan for Nordstrom to move to the Plaza resulted in the demolition of part of a movie theater, bank, restaurant and parking garage, only for Nordstrom to back out of the deal last year. Last month, the owners defaulted on the Plaza’s nearly $300 million loan.