Bishop Arts project seeks $5 million, will raze area

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The $42 million first phase of the planned development between Bishop Arts and Jefferson Boulevard will require about 4.5 acres of existing houses and apartments to be demolished, and the developer is seeking $5 million in economic development funds.

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The $5-million Tax Increment Financing grant would reimburse the developer, the Nazerian family, for expenses including sidewalks, street trees and lights, improved water and sewer lines and burying utility lines. The developer would provide 30 public parking spaces and some affordable apartments. About 43 of the 218 planned apartments would be available for 15 years to people earning no more than 80 percent of the Dallas median income, currently about $45,000 for a family of four.

The project’s first phase also calls for 26,670 square feet of retail and office space and a parking garage. The new buildings will have one or two stories on Bishop, and heights will increase to as many as four stories toward Madison.

The developer proposes adding the area to the Gateway TIF district and is expected to make a presentation to that TIF board today. See the full presentation here.

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13 Comments

  • I am all for tearing down OakCliff, heck I lived there 18 years, My grand mothers folks moved there in 1916 and when you think about who is buy and selling why nottear it all down, we the people who came from there, well we are tired of fighting you and then again what did you do with 10th street…….

  • 218 planned apartments x 1.5 cars/family + lotsa’ retail space = incalculable traffic clusterfudges. oh, i see there are 30 planned parking spots….pretty good example of how success can ruin bishop arts….

  • dpw943, I think most developers in town have read the tea leaves and don’t even think about doing a major project in Dallas without asking the City for money. They see other developers receiving cash, so they want it, too. It’s hard to blame them if they’re asking for the same thing competitive projects have received.

  • Yes, let’s demolish everything that makes OC what it is so we can fit in more people and turn it into exactly what they’re already trying to escape. Brilliant.

  • “The new buildings will have one or two stories on Bishop, and heights will increase to as many as four stories toward Madison.” No, no, no!

  • NO WAY – where IS the developer who will take the houses that are rent houses and RESTORE THEM and sell them – this project gets an immediate thumbs down from me! I live on Montclair – this project is sooo wrong in so many ways!

  • First off, I am all about the urban density, but Advocate get the facts right. These apartments are going to be $1.75/sqft and the retail will be $26/sqft. This is double what the current retail lease on Bishop is and easily double or triple what the existing apartment housing is. This is not affordable for locally owned business nor is this anywhere near affordable housing.

  • So, how do the locals feel about this? This area was my stomping ground for a very long time, prior to the Arts District, when working nearby.

  • I can definitely get behind some redevelopment/revitalization/rewhateveryouwanttocallit, but can we see some condo purchase options as well?

Comments are closed.