Validus Development Corp. plans to build a 104-unit high-rise on a vacant three-quarter-acre corner lot north of Hood and Brown streets near Turtle Creek. A local planning commission approved some changes to the original concept. It still has to be voted on by the Dallas City Council.
The developer has incorporated larger-than-average units into the project. The average unit size would be 2,229 square feet. The developer is taking advantage of a city incentive program in which it agrees to set aside 5% of the apartments, which would be affordable to households making 81% of the area’s median family income level.
The developer’s attorney said they may instead pay a fee to the city to create housing elsewhere in lieu of providing those affordable units on site.
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Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.