FC Dallas’ Toyota Stadium is undergoing a major overhaul with a $1.3 billion mixed-use development being created.Hunt Sports Development — run by the same dynasty as the Kansas City Chiefs, which began in Texas under Lamar Hunt — is partnering with Peak Curated Development and Venu Holding Corporation.Toyota Stadium is 21 years oldGettyParking lots around stadium will be turned into retail and entertainment spaces in order to bring in more revenue.The Hunt Family will work on the east side of the 32-acre site, which will break ground in 2027.A 290-room hotel featuring a rooftop loung and space is included along with over 40,000 square feet of convention, meeting and event space. Venu is building a convention and event centre, with a 15,000-square-foot ballroom than can be used as a 3,000-person music hall.A million-square-foot-plus office complex is already underway on the west side and the first phase is set to complete in 2028.The stadium opened in 2005 as Pizza Hut Park at a cost of $80 million and is undergoing a $215 million renovation.It should be completed by 2028 and came as part of an agreement that saw FC Dallas‘ lease extended through 2057.“We want to build an entertainment hub that is complementary to Toyota Stadium,” said the club’s president Dan Hunt. “We no longer view soccer matches as an hour and 53 minutes, which is the typical runtime of the game. “We want people coming out here and spending four, five and six hours a day. “Look, to be honest with you, we’re busy 350 days a year at this facility. There are a lot of nights where families are looking for restaurants after practice.”Dallas is looking to bring in more cashGettyThe Hunt family has plenty of experience in real estateGettyDan said the project would fulfil the vision of his father Lamar.“There’s no secret. We were incredibly early when we built the stadium in the fields here,” he said. “My father [Lamar Hunt] was such a visionary.“He said [this] will eventually be the center of the Metroplex. …I know that he had big hopes for it to develop around the property. I think he’s going to be right.”Chiefs building Super Bowl-worthy venueThe Toyota Stadium scheme will run alongside plans for a new stadium in Kansas City.The Chiefs are leaving Arrowhead Stadium behind for a domed arena and surrounding district in a $4.2 billion project.Hunt Midwest recently formed Two-Point Development to help manage the stadium and a new facility for the NFL franchise.Join talkSPORT’s dedicated US Sports YouTube channel The S* Word every Tuesday and Thursday for our brand new NFL shows.On Tuesdays, Will Gavin and US senior reporter Brian T. Smith will debate the biggest talking points from the NFL weekend, while on Thursdays Efe Obada joins the crew to talk to players past and present and break down what to look for across the league.