Seventeen Seeds, a community art project that has been sprouting in north Oak Cliff for a few months, is only temporary. The landowner has plans to develop the site at West Davis and Vernon with the help of the city.
According to Roy Appleton of the Dallas Morning News, the City of Dallas’ Davis Garden Tax Increment Financial (TIF) board recently approved $4 million in reimbursement funds for architect Rick Garza’s West Davis street development, which he is calling Kings Way. The project will be constructed in the triangle at West Davis and Vernon, where the sunflowers are thriving.Sponsored Message
Kings Way will be a five-story mixed-use development that would include a public plaza, two-level underground parking garage, office and retail space, and 110-160 apartments.
The $4 million the city has promised would be used to pay for public improvements — sidewalks, streetlamps, plants and trees, and the like — and would be given to Garza only after the development has increased its property value enough to generate the $4 million in tax dollars.
In addition, Garza must meet six conditions attached to the project to receive the reimbursement:
• Garza must show sufficient evidence of funding for the project by Dec. 31, 2012. The estimated cost of the development is $33.7 million
•Environmental hazards on the property must be removed by May 31, 2013. This includes eliminating contamination in the soil and ground water.
•He must begin construction by July 31, 2013. Construction on the project is estimated to take 18 months.
•He needs to receive and complete a certificate of occupancy by Dec. 31, 2014.
•The building is required to contain a minimum of 68,000 square feet of commercial space and a minimum of 150,000 square feet of residential rental space.
•He needs to submit quarterly status reports while the project is underway
You can read more about all of these and a few more requirements in the TIF board’s term letter to Garza, courtesy of the Dallas Morning News. For the time being, the property will continue to serve as a home to the sunflowers and community art project.
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