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Spectrum Properties working on mixed-income apartment projectSpectrum Properties working on mixed-income apartment projecthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=275622022-05-26T05:00:00Z2022-06-03T22:00:00Z

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PictureDALLAS – The city council has approved a $6.5 million development agreement with Spectrum Properties Ltd. for Pearl Lofts, a six-story community at Pearl St. and Farmers Rd.

One-third of the 100 units will be reserved for households earning up to 80 percent of the median income.

Floor plans in the $33.2 million community will range from 620 to 1,200 sf. Amenities will include a pool, dog park, fitness center, community room, and fire pit.

Andres Construction is the builder. Wilder Belshaw Architects designed the project.

Construction will wrap up in March 2025. 

Covered by future tax increment financing, the agreement includes a $6.2 million grant for high-density development and affordable housing as well as a $268,000 grant for a pedestrian plaza between Taylor and Marilla Streets.

Texas logoThe Texas Real Estate Research Center​​​​ has more multifamily news online for free:

​Source: Dallas Morning News​
Dallas Morning News
Dallas-Fort Worth-Arlington
Multifamily
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