City approves large West End Loft development subsidy
The West End Lofts Project is to receive $49m in the form of an incentive package following a recent vote by the Dallas City Council.
The project would be utilizing three parcels located in the historic West End for mixed-income, mixed-use, and transit-oriented development. The parcels would include 211 N. Austin Street, 711 Elm Street, and 805 Elm Street, immediately south of Dart light rail station in the West End and north of El Centro.
With an estimated price tag of $103.2m, the project, led by Sycamore Strategies, LLC, will create 154 apartments. Among these units will be four three-bedroom, 69 two-bedroom, 25 one-bedroom and 56 efficiency apartments in the existing building at 805 Elm Street, with a new separate six-story building set for construction on the existing parking lot next to it. Just over 40% of the apartments in the project will be reserved for low-income tenants.
It is vital that residential and commercial developments find tenants as quickly as possible, and working with quality printing services can help accomplish this in a variety of ways.
Funding for the project will include $54,224,085 from sources other than the City, such as low-income housing tax credits as well as historic rehabilitation tax credits.
Amenities for the residents will include a 25,751-square-foot plaza and promenade, ground floor retail and commercial space, and around 140 parking spaces in the garage at 711 Elm Street.
The project would be utilizing three parcels located in the historic West End for mixed-income, mixed-use, and transit-oriented development. The parcels would include 211 N. Austin Street, 711 Elm Street, and 805 Elm Street, immediately south of Dart light rail station in the West End and north of El Centro.
With an estimated price tag of $103.2m, the project, led by Sycamore Strategies, LLC, will create 154 apartments. Among these units will be four three-bedroom, 69 two-bedroom, 25 one-bedroom and 56 efficiency apartments in the existing building at 805 Elm Street, with a new separate six-story building set for construction on the existing parking lot next to it. Just over 40% of the apartments in the project will be reserved for low-income tenants.
It is vital that residential and commercial developments find tenants as quickly as possible, and working with quality printing services can help accomplish this in a variety of ways.
Funding for the project will include $54,224,085 from sources other than the City, such as low-income housing tax credits as well as historic rehabilitation tax credits.
Amenities for the residents will include a 25,751-square-foot plaza and promenade, ground floor retail and commercial space, and around 140 parking spaces in the garage at 711 Elm Street.