A new, multiuse development is on the horizon for Downtown Arlington.
On Tuesday night, council members approved an incentive package that will see the developers receive roughly $19.5 million from the city and $16.4 million from the downtown area’s tax increment reinvestment zone. In return, the developer will need to spend at least $123 million on the project.
The agreement was passed unanimously under the consent agenda, which is used to pass multiple items that are not expected to require further public discussion from council members at once.
The developer of the project will be the Dallas-based Trammel Crow Company. The project will surround the Arlington Municipal Court on Abram Street, according to the initial development plan. It is expected to begin next year and be completed by 2031.
To see the development plan, click here.
The mixed-use development will include at least 390 housing units, 39,000 square feet of office space, 8,000 square feet of retail space, and a 600-space parking garage to be located on the largest area of surface parking in the downtown area, according to the city staff report on the project.
The development plan offers information about the proposed number of housing units in the project:
- 41 studio apartments.
- 242 one-bedroom apartments.
- 101 two-bedroom apartments.
- Eight three-bedroom apartments.
- Seven live/work units.
- 110 spaces of on-street parking.
- 197 public parking garage spaces.
- 500 secure multifamily spaces.
The city’s incentive package will help cover the acquisition of the land for the development and reimburse some project costs. Developers will get roughly $9.6 million through a grant for the land purchase and roughly $9.9 million for reimbursement of project costs.
The downtown area’s tax increment reinvestment zone will provide reimbursements for the project’s public improvements, like public parking, up to roughly $16.4 million.
The tax increment zone retains portions of the increase in property tax revenues generated by rising property values within the zone. That money is then reinvested back into the zone. At the beginning of August, the city council voted to extend the tax zone’s lifespan to 2078.
A Trammel Crow Company representative declined the request for an interview and council member Brittney Garcia-Dumas, whose district covers the development, did not respond to requests for a comment.
The office space in the development will be occupied as an administration building for the Arlington Water Utilities department, according to the incentive agreement.
Chris Moss is a reporter for the Arlington Report. Contact him at chris.moss@arlingtonreport.org.
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