Dallas Seeks $1 Billion Loan for Convention Center

Dallas’ bid to stay in the big leagues of convention destinations could start with a massive bridge loan.

The city is seeking $1 billion from JPMorgan Chase to keep its massive convention center redevelopment on track ahead of the 2026 World Cup, the Dallas Business Journal reported.

City officials and Inspire Dallas, the group leading the project, unveiled schematic designs for the first phase of the Kay Bailey Hutchison Convention Center. City staff proposed using the short-term loan to start construction activity while the city awaits approval to issue long-term debt next year.

The bridge loan is a stopgap measure to begin awarding contracts and paying invoices, said Jack Ireland, Dallas’ chief financial officer. The city aims to issue up to $2.2 billion in long-term bonds by June 2026 and retire the interim loan, pending City Council approval.

The funds are intended to help fast-track preparations for hosting the international broadcast center for the 2026 FIFA World Cup. Construction is slated to last 22 months, with the center expected to open by April 2029.

The $3.3 billion to $3.5 billion first phase of the project includes expanding convention space to over 1 million square feet, nearly doubling the complex’s ballroom capacity and more than doubling its meeting room space. The layout will consolidate meeting rooms from six city blocks to two and lay groundwork for future expansion spanning another 405,000 square feet.

Officials are banking on the redevelopment to reverse years of lost competitiveness blamed on deferred maintenance and outdated facilities.

Rosa Fleming, the city’s director of convention and event services, estimated $500 to $600 million in deferred repairs — now worth around $700 million — have hampered Dallas’ convention bookings compared to peer cities.

So far, 64 conventions have pre-booked space at the future facility, with the potential to generate $1.05 billion in direct spending and $1.66 billion in overall economic impact. An additional 109 leads are in the pipeline.

The city is also considering other funding sources to support the project alongside its debt package, including hotel occupancy taxes, land sales, naming rights and regional grants.

— Judah Duke