Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Texas  + Dallas-Fort Worth  + Apartments  | 
Mixed-Income Dallas Apartment Complex Gets Go-Ahead

Mixed-Income Dallas Apartment Complex Gets Go-Ahead

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.

Connect

Inside The Story

About Mike Boyd

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.

  • ◦Development
  • ◦Financing
  • ◦Policy/Gov't
Chase-12-cube
New call-to-action
New call-to-action