Victory Park represents one of the country's most ambitious urban redevelopment projects. Victory Park began in Dallas in 1998 with the careful recapture and renovation of heavily polluted land on an unusable inner city site spoiled by years of industrial waste just north of downtown.

Spencer Alpert owned a key 3.55 acre parcel at the entrance to the new development known as the Arena site, and working closely with environmental engineers, governmental agencies and the Victory Park developers, he was a key participant in the historic reclamation and reuse of this prominent brownfield site.

Mr. Alpert's Arena site was previously home to a refrigeration plant and other industrial users, and just a year earlier, then Vice President Al Gore had announced a Brownfield National Partnership to bring together federal resources, including the US Environmental Protection Agency to address local cleanup and development at several key locations in the Dallas area. These projects became known as Brownfield Showcase Communities. This would be the humble beginnings of what we now know as Victory Park.

Today the 70-plus acre Victory Park is home to American Airlines Center, where the Dallas Mavericks and Dallas Stars play and serves as Dallas/FT Worth's major entertainment venue. As well, it incorporates a unique mix of retail, residential, and office uses, including the upscale 40-story "W" Hotel and Condominium project, House of Blues, Ghostbar, N9NE Steakhouse and a Times Square style retail and media center. Commuter rail is available at Victory Station, both DART and Trinity Railway Express. Additionally, Victory boasts green space throughout the development on Mr. Alpert's original Arena site.

Following EPA approval of the brownfield cleanup and commencement of the Victory Park development, Mr. Alpert sold his interest in the 3.55 acre Arena site to Mr. Perot and Mr. Hicks' Victory development in July, 2001, thus bringing to a successful conclusion his investment in and ownership of this high-profile site.