Dallas Green Lights $14.5 for Transit-Oriented Project
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In a move that shows what parking reform aims to accomplish, Dallas City Council voted to authorize $14.5 million in incentives for a transit-oriented mixed-use development just outside Pleasant Grove.
Dallas-based Palladium USA Inc., a multifamily housing developer, wants to turn some underutilized surface parking at DART’s Buckner Light Rail Station (8008 Elam Rd.) into more than 300 mixed-income apartment units.
Council members voted unanimously on Wednesday to issue Palladium USA a loan of roughly $6.18 million and a grant totaling $8.32 from various bond funds administered by the Office of Economic Development. The project is being developed in partnership with the Dallas Housing Finance Corporation.
“This transit-oriented development is a significant milestone for our city, one that reflects the culmination of years of extensive planning and coordinated efforts with DART to create vibrant and sustainable communities around transit,” said City Manager Kimberly Bizor Tolbert, according to a press release.
Palladium USA’s project embodies the kind of development officials want to see come out of the Dallas City Council’s majority vote to reduce or eliminate parking minimums. Proponents believe reducing the amount of parking developers are required to build for their projects will free up land for badly needed housing and encourage greater use of DART, which is currently hurting for funding.
“This development directly addresses the city’s urgent need for high-quality affordable housing and has the potential to catalyze meaningful economic development and revitalization in a community that truly needs it,” said Council Member Jaime Resendez (District 5), who represents the area where the project is sited.
Palladium USA plans to deliver 304 units total — 90 one-bedrooms, 147 two-bedrooms, and 67 three-bedrooms — across multiple buildings. The project is estimated to cost $107.1 million. Some 80% of the units will be leased exclusively to households earning at or below 60% AMI.
Amenities, two residential parking garages, and a public promenade connecting the apartments to Buckner Light Rail Station will also be built. Resendez said it’s the biggest project the neighborhood’s seen in decades.
Like other parts of southern Dallas, the Pleasant Grove area hasn’t gotten much attention from private investment in housing and other development. Officials and stakeholders hope projects like Palladium USA’s that leverage public transit will facilitate greater geographic mobility and commerce, establishing more circulation between neighborhoods in southern Dallas and other parts of the city.
“We are proud to see this vision becoming a reality,” Tolbert said.
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Wow this is outrageous. Seems yet again the city is giving hand outs to developers instead of helping Dallas citizens. More luxury apartments won’t help the housing crisis, they could have turned this into a nice neighborhood instead. This is just proof Dallas is the worst city in America if you’re a homeowner. People already have other apartments to live in, what we really need is houses. Imagine if we built 300 houses here instead of apartments, plus that would increase trees and green coverage instead of bull dozing
They already got Pepper Square and now the city wants to force the same down everyone’s throats. This will only bring more crime and undesirable to the city. We don’t need more renters, they have no investment in the city and don’t care if it goes to hell because they can just move after they ruined it. That’s already what is happening, all the demonrats from California moving here and trying to turn Dallas into San Francisco with druggies and homeless everywhere. But city council doesn’t care as long as they get kickbacks. I wish my council member (Ridley) was against this garbage but he’s a paid shill. Worst part is nobody ran against him in the last election, probably because he is such a goodie two shows for the developers they don’t need to replace him. At least we have term limits now
This money needs to be invested into homes and for affordable housing, I’m perplexed to know why this isn’t being in the limelight of this city? And don’t get me started on the mental health crisis that this city needs as well. Dallas needs a magnifying glass to its citizens as well as it’s issues, Everyday I see people sleeping on sidewalks and in train stations etc. this needs to be addressed! it sad that this city has literally “Dog Hotels” and “Spa’s” that care for animals and is the most beloved animal state I have ever seen! But care less for it’s human life??? Don’t get me wrong, I love animals but this is outrageous to put humanity on hold for another project that doesn’t absolutely zilch for taking care of the problems that we see everyday but chose to turn a blind eye to, so that we can be comfortable and sleep at night while others are in the cold/heat suffering.
@Jason – The majority of new Dallas residents are coming from other TX towns/cities, Florida, Louisiana, and Oklahoma. California is definitely represented, but the issue with addiction, homelessness, and litter was here well before the most recent influx. Its always been an issue during the 22 years I have lived here. Dallas is a growing City, and like it or not, they need housing for more than just wealthy single-family homeowners. As the City grows, the need for density also increases, and we are running out of land for new single-family homes. We do NOT have enough apartments for folks as it is. Not sure where you are getting your information from. Also, if you read the article, a portion of this development will be set aside for affordable housing, which is better than the alternative of building 300 homes that will sell for $500,00 at a minimum.
I’m glad to see this project moving forward. There many in Dallas who want to oppose any and all development, especially when its multifamily. But the truth is affordability, whether you rent or buy, is one of the biggest issues affecting North Texas residents. We need more housing in Dallas, because there are plenty of people who would rather leave in Dallas than a far flung exurb.