On Tuesday, December 11th, the Dallas City Council approved a $49 million incentive package to support the development of the West End Lofts Project, a mixed-use, mixed-income, and transit-oriented development. The project will be located on three parcels in the historic West End at 805 Elm Street, 711 Elm Street, and 211 N. Austin Street, within and adjacent to the City Center tax increment financing (TIF) district.
The West End Lofts project, led by Sycamore Strategies, LLC, is situated directly south of the West End DART light rail station and across from El Centro College. The estimated $103.2 million development will feature 154 mixed-income apartments, including efficiencies, one-, two-, and three-bedroom units. Of these, 63 units (41%) will be income-restricted, providing affordable housing options for households earning at or below 30%, 60%, 70%, and 80% of the area family median income.
In addition to residential units, the project will include residential amenities, around 26,462 square feet of ground floor retail/commercial space, a 25,751 square foot plaza and promenade, and the rehabilitation of about 140 parking spaces in the historic 711 Elm Street parking garage.
Funding for the project includes $54.2 million in non-city sources, such as low-income housing tax credits and historic rehabilitation tax credits, with the city providing up to $28.3 million from the City Center TIF District and up to $20.7 million from other economic development funds, including bond proceeds from the city’s 2012 and 2024 bond programs.
"This development is about more than apartments," said Zachary Krochtengel of Sycamore Strategies. "It is a chance to revitalize and transform an area of downtown with a brand-new pedestrian plaza, street-level retail, workforce housing, and the preservation of two pieces of Dallas history."
City officials emphasize the significance of the public-private partnership in revitalizing the West End, a key historic district. "This important project will provide much-needed affordable housing and ground-floor activation," said Kimberly Bizor Tolbert, Interim City Manager for Dallas. The City Center TIF District Board of Directors had previously recommended funding for the project, with an additional condition to include pet relief facilities for residents.
