Dallas gives OK for DART Buckner station project incentive
A proposed transit-oriented, mixed income development on Elam Road has been approved for an incentive from the Dallas City Council of $14.5 million.
The incentive is for the Palladium Buckner Station Project at the Buckner Dallas Area Rapid Transit (DART) Light Rail Station. The project at 8008 Elam Road is a partnership between the Dallas Housing Finance Corporation and Palladium USA, a multi-family developer. The construction will take place on what is currently a parking lot and has an estimated price tag of $107.1 million.
The $14.5 million incentive package is comprised of a grant in the amount of $8,316,907 and a $6,183,092 loan.
Banner printing services are used at construction sites to inform the public of what is being built and to advertise vacancies when they are nearly complete.
Located less than 10 miles from Deep Ellum and connected via buses that run every 15 minutes the planned for development will include 67 three-bedroom, 147 two-bedroom and 90 one-bedroom units for a total of 304 mixed-income apartments. Low-income households, those with 60 percent or less of a family median income, will have 244 of the 304 apartments set aside for them.
Additional features include a promenade that is publicly accessible and offers a direct path for pedestrians to access the DART Light Rail Station. Also, onsite will be two residential parking garages containing between them 350 spaces.
The incentive is for the Palladium Buckner Station Project at the Buckner Dallas Area Rapid Transit (DART) Light Rail Station. The project at 8008 Elam Road is a partnership between the Dallas Housing Finance Corporation and Palladium USA, a multi-family developer. The construction will take place on what is currently a parking lot and has an estimated price tag of $107.1 million.
The $14.5 million incentive package is comprised of a grant in the amount of $8,316,907 and a $6,183,092 loan.
Banner printing services are used at construction sites to inform the public of what is being built and to advertise vacancies when they are nearly complete.
Located less than 10 miles from Deep Ellum and connected via buses that run every 15 minutes the planned for development will include 67 three-bedroom, 147 two-bedroom and 90 one-bedroom units for a total of 304 mixed-income apartments. Low-income households, those with 60 percent or less of a family median income, will have 244 of the 304 apartments set aside for them.
Additional features include a promenade that is publicly accessible and offers a direct path for pedestrians to access the DART Light Rail Station. Also, onsite will be two residential parking garages containing between them 350 spaces.