Dallas Seeks $1 Billion Interim Loan to Jumpstart $3.5B Convention Center Revamp
Dallas is eager to launch its ambitious $3.5 billion redevelopment of the Kay Bailey Hutchison Convention Center and is considering a $1 billion bridge loan from JP Morgan Chase to help fast-track the project. City officials emphasize that the loan is not a result of funding shortfalls, but instead a form of interim financing to keep the initiative on track until long-term debt can be issued.
The loan will allow the city to award contracts and pay vendors for services as invoices are submitted. According to a city finance spokesperson, Dallas expects to issue its full $2.2 billion in projected debt by June 2026, at which point the interim loan would be paid off.
The primary funding sources for the convention center redevelopment’s initial phase include revenue from the local hotel occupancy tax, an additional 2% hotel occupancy tax, and a project financing zone. Several supplementary funding mechanisms are also being utilized.
The redevelopment project aims to increase the complex’s total sellable space to approximately 1.03 million square feet, enhancing Dallas’ appeal as a destination for conventions and large-scale events.
