Trammell Crow Residential has a plan to build an $18 million apartment complex on Greenbriar Lane, near Methodist hospital.
City Council is expected to hear comments Nov. 14 on the developer’s request for Tax Increment Financing, which would reimburse it up to $4 million through increased tax revenues once the project is completed.
Plans for the four-story development call for 166 apartments and six live/work units. The developer also plans a pedestrian access point to the Trinity River greenbelt, a bicycle repair station, water fountains and shade trees. The project also includes hip urban amenities such as electric car charging stations, bike racks and a dog park.
Thirty four of the complex’s 166 units will meet the affordable housing criteria to be considered for the reimbursement. The majority of apartments would be available for $1.24 to $1.64 per square foot, according to the Dallas Business Journal. So, for example, a 500-square-foot apartment could lease for $620-$820 a month. The complex is expected to be completed in June 2014.