 the offical newsletter of DALLAS AREA RAPID TRANSIT - Summer 2007 |
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eelam@DART.org
   The Mosaic in downtown Dallas (top) offers sky-high views at Akard Station. The Beat (middle) is bringing new life to the South Side neighborhood at Cedars Stations, while Water Street in Las Colinas (bottom) will generate Manhattan-style energy at the Orange Line's Lake Carolyn Station. |
at the stations.
While DART continues to attract new riders, it's winning the hearts of city and chamber of commerce leaders as one of the most powerful economic engines ever to come down the track.
"To say DART Rail's impact has been substantial for the Dallas region's economy would be an understatement," says Dr. Bernard Weinstein, director of the University of North Texas Center for Economic Development and Research. "It's a trend that's impossible to miss; the local business community certainly hasn't."
In a new study released in May, Weinstein and colleague Dr. Terry Clower project the region's $4.86 billion investment in DART Rail through 2013 will generate more than $8.1 billion in economic activity.
Beyond the economic benefits from construction of the system, rail is dramatically changing the landscape with more than $7 billion in existing and announced transit-oriented developments (TODs) around DART station areas.
"Transit-oriented development already is playing a key role in transforming communities near stations," says U.S. Rep. Eddie Bernice Johnson, an outspoken proponent of DART and the growth of public transit in North Texas. "As the light rail system grows, we expect to see more mixed-use areas enjoying improved quality of life, increased property values, easier navigation and greater attractiveness to newcomers and current residents alike."
Ready for rail
With no land left for large-scale subdivisions, planners in Carrollton see TOD as the key to maintaining standards and services without raising taxes. A district around the future Downtown Carrollton Station has been rezoned for dense development and the city is actively recruiting developers.
"We want the downtown area to retain its hometown feel," says Peter Braster, Carrollton's transit-oriented development manager. "We envision a downtown where everybody is walking around and enjoying themselves."
A model of things to come is The Lofts, a small project on the downtown square with six apartments above a restaurant space. Braster says the project incorporates the city’s TOD design standards, "and the apartments are fully rented to residents who want a transit lifestyle."
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Irving's 12,000-acre Las Colinas development is seeing perhaps its biggest boom since the 1980s with much of that activity in the Urban Center where DART will open the Lake Carolyn Station in 2011. The Lofts at Las Colinas have already opened with 341 units near the station site, and Water Street on Lake Carolyn promises a bustling urban mix of shops and restaurants, high-end condos and apartments, a boutique hotel and office space.
In Dallas, First Worthing's Cityville at Southwestern Medical District has begun first-phase leasing of 263 apartments and 43,000 square feet of retail. Described as "an urban oasis – near the energy and excitement of Downtown Dallas," Cityville residents can easily tap that energy with the opening of the Southwestern Medical District/Parkland Station in 2010.
Existing DART Rail stations continue to attract new development. Mockingbird Station, the region's first landmark transit village, is expanding with 23,000 square feet of new shopping and dining opening in January 2008. Matthews Southwest is bringing new life to downtown Dallas' South Side with The Beat, a 10-story, 75-unit condo project under construction next to the developer's successful South Side on Lamar community at Cedars Station.
In the heart of downtown at Akard Station, The Mosaic is 20% leased while construction continues on 440 apartments in the former 31-story Union Tower complex. Residents can choose from stylish interiors by three leading designers and enjoy its 120-ft. zero-edge pool, dive-in theatre, outdoor fire pit and kitchen, private dog park, full service bar, workout facility and media and game rooms.
"Quite a few people who come to look at our models say, 'Oh, the DART station is right here too,' " says leasing consultant Deborah Mock. "DART is one of the tools we use every time we show the property."
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