A/s/l? City Seeks Developers for Relationship
The City of Dallas wants to find some cash-rich partners on a couple of developments. To learn more, join us for Bisnow's 5th annual Dallas State of the Market, where you'll hear from the developers, builders, brokers, and city leaders, May 29 at the Westin Galleria.
The two projects: a North Dallas infill and a Southern Dallas Greenfield development. City of Dallas research and information manager Timothy Glass and senior urban planner Luis Tamayo (at a recent ULI event) tell us UNT-Dallas is a catalyst for a mixed-use project on raw land and the Vickery Meadow area of North Dallas has lots of infill opportunities around the Park Lane development.
Around UNT-Dallas, there are a lot of Greenfield opportunities. DART has a campus stop set to open in 2016 and the City has made a commitment to help the area prosper, with Mayor Michael Rawlings’ GrowSouth initiative, Timothy says. An area plan was accepted in 2009, which includes a mixed-use district around UNT-Dallas with office and single-family homes. (If there's one thing college students like to think about, it's work and raising a family.) A $5M bond allocation has been set aside to build this project; now they just need the right partner, he says.
Turning our gaze back north, Timothy says the Vickery Meadow area is the densest area of the city with a lot of multifamily. The City created two TIF districts for the Vickery Meadow District and the Skillman Corridor District to encourage future redevelopment in Vickery Meadow. A great success story in this area is the almost 34-acre Park Lane mixed-use development across from NorthPark Center. Luis says the area also has an old Sams Club that's ripe for development among other opportunities. (The fruit on its shelves, however, is probably past ripe.)