The Dallas City Council approved an a $6.5 million development agreement with Spectrum Properties to build a 100-unit apartment complex. The Pearl Lofts will be a six-story community at Pearl St. and Farmers Road.

One-third of the 100 units will be reserved for households earning up to 80% of the areas median income. Spectrum will have to put up $26 million on the project which will include a dog park, fitness center, community room and fire pit. Covered by future tax increment financing the agreement includes a $6.2 million grant for high-density development and affordable housing as well as a $268,000 grant for a pedestrian plaza nearby.

Andres Construction will be the builder. Construction will wrap up in March of 2025.