The Dallas City Council today unanimously approved a $14.5 million incentive package to support the Palladium Buckner Station Project, a proposed $107.1 million mixed-income and transit-oriented development in the Pleasant Grove area of southeast Dallas.
The project, spearheaded by Palladium USA Inc. in partnership with the Dallas Housing Finance Corporation, will transform an underutilized surface parking lot at the Dallas Area Rapid Transit (DART) Buckner Light Rail Station, located at 8008 Elam Road, into high-quality mixed-income apartments.
Council Member Jaime Resendez (District 5) hailed the project as a significant development for his district, noting it as the largest in decades for this part of Southeast Dallas. He praised Palladium USA Inc. as a respected developer known for long-term ownership and management of their properties. Resendez emphasized that the development directly addresses the city’s urgent need for high-quality affordable housing and has the potential to spur meaningful economic development and revitalization in a community that needs it.
The project is slated to include the ground-up construction of residential buildings featuring 304 mixed-income apartments: 90 one-bedroom, 147 two-bedroom, and 67 three-bedroom units. A significant portion, 244 apartments (80%), will be income-restricted and leased exclusively to households earning at or below 60% of the area family median income. The development will also feature residential amenities, two residential parking garages providing 350 parking spaces, and a publicly accessible promenade offering a direct pedestrian connection to the DART Buckner Light Rail Station.
The City’s $14.5 million incentive comprises a loan not exceeding $6,183,092 and a grant not exceeding $8,316,907. Funding will be sourced from various accounts administered by the City’s Office of Economic Development, including general obligation bond proceeds from economic development/housing propositions approved by voters in 2006, 2017, and 2024.
City Manager Kimberly Bizor Tolbert described the transit-oriented development as a significant milestone for Dallas, representing the culmination of years of extensive planning and coordinated efforts with DART to create vibrant and sustainable communities around transit. She stated that the city has long recognized the potential of such developments to bring much-needed housing, economic growth, and improved accessibility to neighborhoods in the southern sector, and is proud to see this vision becoming a reality.
