Seco Planning 12-Story, $100M FW Apartment Highrise

Seco Enterprises is planning to build a highrise apartment complex in the heart of the Panther Island district on the corner of North Main Street and Northeast Fourth Street. The tower would span about 250,000 square feet. Seco’s development could feature 290 apartments with 9,000 square feet of ground-floor retail. Seco owns an additional 32 acres on Panther Island.

The Dallas Business Journal reports that the city wants to provide Seco with up to $1 million in annual grants for 10 years. The funds would be 80% of the city’s incremental property tax and possibly the city’s economic development initiatives fund.

In order to receive the incentives, Seco would have to invest a minimum of $100 million, including $75 million in hard construction costs, and deliver a minimum 12-story development with 290 apartments and 9,000 square feet of retail, along with public improvements.

Panther Island is a roughly 500-acre piece of land at the center of a major flood control project.