Dallas endorses a $1 billion 'temporary loan' for the expansion of Kay Bailey Hutchison Convention Center
Putting a Billion on the Table for Dallas' Convention Center Makeover 👀
The Dallas City Council gave the green light to a $1 billion loan on Wednesday, fueling the expansion of the Kay Bailey Hutchison Convention Center. The news comes as we edge closer to the 2026 FIFA men's soccer World Cup ⚽️.
This expansion is part of a bigger district project and is projected to cost between $3.3 billion and $3.5 billion - quite a jump from the initial $1.9 billion estimate in 2021. The "bridge loan" of $1 billion, approved this week, will help push the project forward by securing the necessary funds to sign contracts for design and construction, and settling bills with vendors.
The decision was backed by 13 council members, with only Cara Mendelsohn voting against and Mayor Eric Johnson absent. Mendelsohn shared her concerns due to the lack of a concrete budget for the project. She raised questions about entering such a massive loan without a clear budget in place.
"We agreed to build something, but nobody's issuing debt without a budget, except here we are," Mendelsohn remarked. "We're not even doing it for a couple million dollars, we're doing it for a billion dollars. This seems pretty outrageous."
Last year, Dallas residents approved a bond to fund the initial convention center development, but that money won't be accessible until next year. Ultimately, bonds are projected to cover 67% of the project. The bridge loan will be reimbursed when bond funds start rolling in from January 2026.
The revamped convention center will become the global broadcast operations center for next year's FIFA World Cup. Broadcasting of the tournament will commence in January 2026, so the project coordinators aim to begin construction in July to stay ahead of the game.
Council Member Jesse Moreno stressed the importance of pressing forward with the project to reap its benefits as quickly as possible: "The sooner we can deliver this project, the sooner we will bring in new revenues."
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The project for the expanded convention center in Dallas will also incorporate facilities for sports, such as soccer or football. The revamped convention center is set to serve as the global broadcast operations center for the 2026 FIFA men's soccer World Cup.
