Mixed-Income Dallas Apartment Project Receives Construction Loan
A partnership between LDG Development and Dallas Public Facility Corp. has secured financing for the 300-unit The Standard at Royal Lane. Merchants Bank of Indiana provided the $63.4 million construction loan.
Upon completion, half of the units will be set aside for households earning 60 to 80% of the area median income, with the remaining units to be rented at market rate. The project is scheduled to start taking tenants by July 2024.
The project will have units ranging from one to four bedrooms and will include two pools, two fitness centers and a clubhouse. Located at 2737 Royal Lane on a 12-acre site, The Standard at Royal Lane will be about 12 miles from downtown Dallas and 8 from Love Field.
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.
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