The city of Richardson is seeking a developer to transform the area around Arapaho Center Station, which will serve as the gateway to its Innovation Quarter.
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The nearly 15-acre site at the intersection of Greenville Avenue and Arapaho Road will eventually become a mixed-use, transit-oriented development that includes traditional office and coworking facilities, a space for emerging industries, shopping and dining, and high-density housing, according to a release. The property, owned by Dallas Area Rapid Transit, currently includes a parking lot and bus transit station.
“This mixed-use development will draw start-ups as well as ‘scale-ups’ due to its centralized location, access to transit and ability to attract and retain a highly educated workforce,” Maureen Kelly Cooper of Cushman & Wakefield, the firm leading the search for a developer, said in a statement.
Mayor Paul Voelker said the city spent the last five years preparing the site for development. Arapaho Center Station is envisioned as a central landmark of The IQ, a 1,200-acre, tech-focused hub created in 2019 following a comprehensive rezoning effort that removed development barriers and spurred investment in aging buildings.
The IQ is currently home to more than 1,000 businesses and 19,000 workers, according to its website. The city partnered with The University of Texas at Dallas to open a 27.5K SF facility that will house five UT Dallas research centers, an extension of the university’s Venture Development Center and offices for the city’s Innovation and Placemaking Initiatives staff. That building is set to open this summer.
“We have a once-in-a-lifetime opportunity to realize our vision for Richardson’s last remaining light rail station, right at the entry to our innovation district,” Voelker said in a statement. “We cannot wait to hear from master developers who can help us fully realize our ambitions.”
A request for proposals has been issued with a deadline of June 7 at 2 p.m.
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