The developers of The Canyon in Oak Cliff, a planned 200-acre development at Westmoreland and Interstate 30, need more time.
Construction on stores, hotels and apartments would have to begin May 31 in order for Stratford Land to receive $327,140 in Tax Increment Financing funds from the city. City Council will consider Wednesday whether to give the developer one more year to begin the project. If the extension is approved, Stratford Land will double its minimum investment in the project from $5 million to $10 million.
Delays in construction on an extension to the I-30 frontage road between Westmoreland and Colorado have “had an impact on the overall project schedule concerning The Canyon,” according to the request.
At a ceremonial groundbreaking for the development two years ago, the developer announced In-N-Out Burger, Denny’s and Marriott Residence Inn as future tenants.
This past November, KERA caught Stratford Land in a legal-but-shady move that landed the developer $97 million for the project.