Regions Southwest | Dallas
April 16, 2008
By: Tonie Auer, Southwest Correspondent
Anticipating the arrival of light rail into the city in 2010, the Dallas suburb of Carrollton has signed an exclusive master developer contract to spearhead private investment for three Transit-Oriented Development areas with High Street Residential, a wholly owned subsidiary of Trammell Crow Co.
High Street has been assigned three sites to create high-density residential, office and retail space. The areas are the Downtown Carrollton Transit Center District, the Trinity Mills Transit Center District and the North Carrollton Station Development Site. Each site anchors an existing or planned DART (Dallas Area Rapid Transit) light rail line.
Financials of the project were not disclosed, but city leaders expect the developments will provide employment growth and a projected value of nearly $1 billion added to the city’s tax base.
"The city of Carrollton has been putting a strategy together for the last couple of years for the development around the DART stations," Art Lomenick, managing director at Trammell Crow and president of High Street Residential, told CPN. "Now was the time to bring in the private sector for the master development work. We'll work with the team to craft a development strategy and infrastructure plans." Lomenick said with the first DART station opening in 2010, the goal is to have developments built by then or near completion. "With the cost of driving increasing and the desire for a high quality of life where you can walk to mass transit or work, we want to have true villages around these stations with density and mix of uses that are sustainable plans on the scale of Addison Circle or Legacy Town Center," he added.
High Street Residential is responsible for such Dallas-area developments as Addison Circle and Legacy Town Center in Plano (pictured).
On Dec. 11, CPN reported on another High Street Residential project that began construction as part of another private-public partnership. The Dallas suburb of DeSoto partnered with the firm for the development of a mixed-use project located in front of the city’s Town Center. That project will feature more than 35,000 square feet of retail and office space, 135 one- and two-bedroom residential units and a 360-space parking garage, and is scheduled to be complete by February 2009.
Dallas-based Trammell Crow High Street Residential is a division of Trammell Crow that specializes in developing office, retail, housing, and civic venues within organized public gathering spaces through its master plan/master developer services.
By: Tonie Auer, Southwest Correspondent
Anticipating the arrival of light rail into the city in 2010, the Dallas suburb of Carrollton has signed an exclusive master developer contract to spearhead private investment for three Transit-Oriented Development areas with High Street Residential, a wholly owned subsidiary of Trammell Crow Co. High Street has been assigned three sites to create high-density residential, office and retail space. The areas are the Downtown Carrollton Transit Center District, the Trinity Mills Transit Center District and the North Carrollton Station Development Site. Each site anchors an existing or planned DART (Dallas Area Rapid Transit) light rail line.
Financials of the project were not disclosed, but city leaders expect the developments will provide employment growth and a projected value of nearly $1 billion added to the city’s tax base.
"The city of Carrollton has been putting a strategy together for the last couple of years for the development around the DART stations," Art Lomenick, managing director at Trammell Crow and president of High Street Residential, told CPN. "Now was the time to bring in the private sector for the master development work. We'll work with the team to craft a development strategy and infrastructure plans." Lomenick said with the first DART station opening in 2010, the goal is to have developments built by then or near completion. "With the cost of driving increasing and the desire for a high quality of life where you can walk to mass transit or work, we want to have true villages around these stations with density and mix of uses that are sustainable plans on the scale of Addison Circle or Legacy Town Center," he added.
High Street Residential is responsible for such Dallas-area developments as Addison Circle and Legacy Town Center in Plano (pictured).
On Dec. 11, CPN reported on another High Street Residential project that began construction as part of another private-public partnership. The Dallas suburb of DeSoto partnered with the firm for the development of a mixed-use project located in front of the city’s Town Center. That project will feature more than 35,000 square feet of retail and office space, 135 one- and two-bedroom residential units and a 360-space parking garage, and is scheduled to be complete by February 2009.
Dallas-based Trammell Crow High Street Residential is a division of Trammell Crow that specializes in developing office, retail, housing, and civic venues within organized public gathering spaces through its master plan/master developer services.
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