![]() ![]() ![]() Fulcrum executives did not respond to requests for comment. In July, GrayStreet sold nearly all its property in Broadway East-14.6 acres in all-to local firm Fulcrum Development, known for building master-planned communities in the Medical Center district and the area around Interstate 10 and Loop 1604.Īt the TIRZ meeting on Tuesday, Griffin and Ian Benavidez, an assistant director with the city’s Neighborhood and Housing Services Department, said the incentive package would help lay the infrastructure for future phases of Broadway East-though no one seems to know whether Fulcrum will follow GrayStreet’s development plan. In December, the city retired its Center City Housing Incentive Policy, through which Encore had received a $6 million package to build its last project in San Antonio, the Encore SoFlo complex in south downtown. In recent years, Mayor Ron Nirenberg and other elected officials have responded to concerns about rising housing costs in the urban core by drawing back incentives for market-rate housing. The reimbursements will likely end up below the $7 million cap, amounting to an estimated $4.9 million, according to an analysis by the city-but that would still make it one of the largest incentive packages the city has ever awarded. Encore plans to start construction in the next month or two, its attorney James Griffin said. The package would help offset the cost of expanding water and sewer lines to service the complex and future additions to Broadway East, which GrayStreet had once planned to develop with 1.6 million square feet of mixed-use space at a cost of $560 million. In a TIRZ, revenue from the rise in property taxes is captured and put back into the zone in the form of public upgrades and affordable housing initiatives. The agreement is subject to City Council approval. The board of the Midtown Tax Increment Reinvestment Zone (TIRZ) voted 7-1 Tuesday to approve an agreement awarding 10 years of property tax reimbursements to Dallas firm Encore Multifamily to build a $90 million apartment complex with 386 market-rate units at the northwest corner of Carson and Austin streets, in Government Hill. The first phase of the Broadway East master-planned community across from the Pearl is on track to receive a city incentive package worth up to $7 million, giving the project crucial momentum after GrayStreet Partners’ withdrawal left it in turmoil. Take advantage of our unique services that include door-to-door trash pick-up, maid service, and more.Rendering shows Encore Multifamily’s apartment project near Broadway. In addition, residents enjoy community amenities like our swimming pool and spa, game room, grand ballroom, fitness center, beauty salon, and business center. Our residences feature patios and balconies, hardwood floors and plush carpeting, fully equipped kitchens, and garages are available. Bring your loyal dog or your favorite cat, too – we’re pet-friendly!įeaturing spacious and convenient one- and two-bedroom living spaces, our Richardson, TX senior apartments are designed with your lifestyle in mind, and we’re sure to have something for everyone. Living at Encore at Buckingham, you can continue to Engage Life through a variety of activities designed to promote physical, social and emotional well- being, while having total control of your finances and lifestyle. Walk to stores and shops or travel in comfort aboard our new shuttle. Encore at Buckingham offers a convenient and comfortable lifestyle with a focus on maximum independence in a modern, totally maintenance-free setting. An upscale community of senior apartments, Richardson, TX's Encore at Buckingham is l ocated in the north Dallas suburb where you can experience a friendly, small-town feel just minutes from major highways and within a short drive to exclusive shopping and restaurants, cultural and entertainment venues. ![]()
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