Two Dallas developments recently in the news have evolved significantly since last year. Matthews Southwest is following its completion of the historic Dallas High School restoration by adding a mixed-income rental project on the same block, just as Alliance Residential Company has revealed a redesign of its planned Knox-Henderson multifamily complex.
Now that Dallas developer Jack Matthews of Matthews Southwest has wrapped up the renovation of the Dallas High School in the Arts District, it is asking the Texas Department of Housing a Community Affairs for a 9 percent Housing Tax Credit to help finance a 230 unit apartment project he wants to build next door.
Well, not quite next door. The site plan leaves space in the middle of the block for a future office building:
According to TDHCA records from the 2018 competitive tax credit cycle, the development name is 2400 Bryan. To qualify, a percentage of the units must be classified as affordable. Matthews’ application is splitting the units down the middle — 115 low income units and 115 market-rate units.
The developer is requesting the maximum credit of $1.5 million. Housing tax credit projects require the blessing of local politicians and neighbors; in this case, that would be the Downtown Dallas Neighborhood Association.
Matthews has reported the total project estimated cost at $70 million. That is for a 16-story building with a 400-vehicle parking garage and 10,000 square feet of ground level retail space. The site plan attached to a contract for the land purchase agreement — $7.5 million to seller Bryan Street Land Holdings LLC — shows the retail and residence lobby will face Bryan Street, and the garage entrance will be parallel to the U.S. Highway 75 access road.
Matthews told the Dallas Morning News he wanted to bring workforce housing downtown, an admirable goal considering the land values make this very hard to do. The building will have six levels of parking, ten floors of rental units, and an amenity deck above the sixth floor with a swimming pool, covered pavilion with viewing deck and children’s playground, a community room, dining area, theater and library.
The developer estimates the project will break ground in early 2019. The review process for a competitive housing tax credit usually winds up in late summer, so Matthews will know by August if the “affordable” part of his housing project is a go.
Meanwhile, Perkins+Will, the architecture firm that became the main tenant of the Dallas High School building, has sent out invites to simultaneously celebrate its new headquarters and the firm’s 30th anniversary.
The official grand opening, Tuesday at 3 p.m., will include a tour of the new offices. Matthews Southwest refurbished the 111-year-old landmark into 105,000 square feet of office and retail space.
Alliance Residential Brings Out Plan B
As Towers reported in December, Alliance Residential’s initial concept for a high-rise in Knox-Henderson got a thumbs-down from the Oak Lawn Committee.
Alliance and its architect, GFF, have since come out with a down-scaled project they hope will be more compatible with the neighbors. Alliance is still going for a 335-unit project at the southeast corner of Armstrong and Cole Avenues, but the plan is to go to seven stories across the street from the 17-story Highland Park Place office tower and ratchet down to five stories as the structure extends south to Olive Street and into single-family residential territory.
Another peace offering to the neighbors is a 10 percent apportionment — 34 units — of affordable housing. Tenants in the affordable units would have to make 80 percent or less of the area median household income to qualify.
The City Plan Commission has yet to consider the concept.