Trammell Crow’s High Street Residential is seeking up to $29 million from the city of Dallas to help develop an 18-story apartment building near Southern Methodist University.
The development will have 429 rental units and cost more than $117 million, according to Dallas Morning News. Crow, a subsidiary of CBRE, is asking the city for so-called tax increment finance district funds to pay for infrastructure improvements and to provide affordable rental units.
High Street Residential has been trying to develop the project on 16 acres of surface parking lots next to DART’s Mockingbird Station since 2018. In 2019, DART agreed to a 99-year lease of the site, just east of SMU and U.S. Highway 75. In exchange, Crow must build a 500-car garage to serve the transit stop.
The developer agreed to set aside 20 percent of the apartments in the Mockingbird Station East project for residents making 80 percent or less of area median income. The median annual income in Dallas is $30,634.
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Construction, including streetscape improvements, is expected to be complete by Dec. 31 of 2026, the newspaper reported, citing documents filed with the Dallas Economic Development Committee. The committee is set to vote on the project next week. It would go to the city council if it passes.
High Street Residential is also working on a high-rise project that will include residential towers on Dallas’ Knox Street adjacent to the Katy Trail.
[Dallas Morning News] – Maddy Sperling