Hoque Global, the developer behind the much-anticipated University Hills project in southern Dallas, is under intense scrutiny as delays plague the 270-acre development.
The project promised to deliver homes, apartments, 1.5 million square feet of commercial space and over 50 acres of green space near the University of North Texas at Dallas, the Dallas Business Journal reported.
With rising tensions among city officials, the question remains: can Hoque Global, led by CEO Mike Hogue, meet its promises and revive the project?
The project’s slow pace has drawn criticism from Dallas City Council members, particularly as Hoque Global is requesting substantial changes to its agreement with the city to clinch the project’s full scope.
Proposed amendments to the development agreement would increase the city’s subsidy by $1.75 million to $35.9 million to fund faster construction of a wastewater line, a task the developer wants to take on itself.
The proposed amendments include more than just financial changes; they also call for extensions to key deadlines and an increase in the developer’s minimum investment to $62 million. In addition, Hoque Global is required to prepare and sell 50 additional sites and build a community amenity center with a pool.
Kevin Spath, interim director of Dallas’ Office of Economic Development, noted the developer’s efforts to improve home designs and work with the city’s arborist, but several council members expressed doubts.
“Why is it that they are being given the benefit of the doubt here?” Council Member Adam Bazaldua asked. “I don’t want to throw too many accusations out there, but this is another example of the big guys getting a lot bigger piece of the pie and opportunity. In my opinion, we’re giving them a great benefit of the doubt when a lot of these incentives are not afforded to the smaller guys.”
Council Member Carolyn King Arnold also criticized the developer, accusing Hoque Global of taking advantage of taxpayer money.
“We’ve given them enough time to prove themselves worthy of receiving and building on taxpayers’ dollars,” Arnold said.
Hoque plans to start infrastructure work early next year, the firm’s Vice President Arthur Santa-Maria told the council.
“It is full-on work mode. We’re just getting ready to break ground,” Santa-Maria said. “We worked in good faith with the city.”
Officials in the City of Fort Worth recently cut ties with the developer on the planned Evans and Rosedale Urban Village, a mixed-use project spanning 7.5 acres in the city’s Historic Southside, citing a lack of consistent progress and adherence to deadlines related.
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— Andrew Terrell