In a move that shows what parking reform aims to accomplish, Dallas City Council voted to authorize $14.5 million in incentives for a transit-oriented mixed-use development just outside Pleasant Grove.
Dallas-based Palladium USA Inc., a multifamily housing developer, wants to turn some underutilized surface parking at DART’s Buckner Light Rail Station (8008 Elam Rd.) into more than 300 mixed-income apartment units.
Council members voted unanimously on Wednesday to issue Palladium USA a loan of roughly $6.18 million and a grant totaling $8.32 from various bond funds administered by the Office of Economic Development. The project is being developed in partnership with the Dallas Housing Finance Corporation.
“This transit-oriented development is a significant milestone for our city, one that reflects the culmination of years of extensive planning and coordinated efforts with DART to create vibrant and sustainable communities around transit,” said City Manager Kimberly Bizor Tolbert, according to a press release…