After over a year of meeting with neighbors, stakeholders, and City of Dallas staff, the WindMass Capital development team has thrown in the towel just before this Wednesday’s City Council meeting where they would have been on the agenda to move forward on a very complicated deal.
WindMass owns the Founders Square Apartments. Over the decades the building became surrounded on three sides by Oak Cliff‘s Founders Park. Long story short, they hoped to swap their 1.37 acres for the adjacent 1.37 acres on the corner of Colorado Blvd. and Marsalis Ave., build a new mixed-use apartment building with retail on the ground floor, then demolish their old building, give it to the city all cleaned up like park land should be, and give a half million dollars to the city for additional park improvements. Sounds pretty crazy amazing, doesn’t it?
As Willis Winters, Director of the Park Department, said at the last Park Board meeting, the city has tried to purchase this property for years to make Founders Park more contiguous, but hasn’t been able to afford it. This project would essentially accomplish that goal for the Parks Department.
Even neighbors and stakeholders were in support, a rare feat in itself!