Transit-Oriented Development Activity in Richardson
August 8, 2011
I. Bush Turnpike Station
|
| In February of 2011, the city approved rezoning of 140 acres surrounding the Bush Turnpike Station to a planned development district under a form-based code for future development. Click here for more details. |
II. Spring Valley Station/West Spring Valley
    |
| Brick Row Transit Village has completed three phases of apartments: The Station (247 units) and The Springs (40 units), both next to the DART rail station, are 96% leased. The Quarters, which opened in April with 213 units, is over 60% leased. The city has granted a portion of the previously planned condos allowance to become 77 apartments. This will take advantage of the high demand for the rental units by young professionals and active empty nesters who want light rail access. MetroPCS and a new Asian restaurant have signed leases for retail space. David Weekley Homes continues to make progress in the town-home portion of the development, having completed and sold (or constructing) 24 of the anticipated 150 town-homes. |
|
West Spring Valley Corridor Reinvestment Strategy - Through not adjacent to the station, the City completed a major study of this key corridor west of US 75/Central Expressway in the spring, and passed a planned development ordinance to enhance redevelopment opportunities for this area. The objective for the West Spring Valley Corridor Reinvestment Study was to create a redevelopment and reinvestment strategy for this area that reflects an understanding of community goals, market realities, physical constraints, political priorities, and public and private financial resources. The strategy provides: - Recommendations regarding an appropriate mix of uses and product types
- An understanding of investment barriers
- Identification of financing mechanisms
- Insight gained by engaging various private sector audiences
- An approach for leveraging public sector investment
- Measures of success
Ultimately, the study should yield a strategy that will attract appropriate businesses, stimulate the redevelopment of underutilized and under-performing properties, improve the physical appearance of both public spaces and private property, and provide general guidance to the City and private sector interests on Corridor reinvestment issues. |
III. Galatyn Park Station
|
| The Venue at Galatyn Park has landed a wonderful new restaurant, Sol Irlandés Mexican Chop House. Located directly across from the Eisemann Center next to Bank of America's multi-building operations, Blue Cross & Blue Shield of Texas headquarters, Verizon, and other key employers, The Venue is 98% leased and is also very popular among Richardson's young professionals and empty nesters. |