$140M Mixed-Use Transit-Oriented Project Comes to Dallas Suburb
- Apr 09, 2008
By Anuradha Kher, Online News EditorRichardson, Texas–Winston Capital Corp. and L&B Realty Advisors recently broke ground on Brick Row, a $140-million mixed-use, transit-oriented development located adjacent to the DART Spring Valley Light Rail Station in Richardson, Texas. Located across 30 acres at the northwest corner of Spring Valley Road and Greenville Avenue, Brick Row features 500 apartments, up to 300 luxury condominiums, 140 luxury townhomes, 80,000 square feet of retail and restaurant space, and 11,000 square feet of Class A office space.The apartments, with average rents from $1,100 to $1,200, will be ready by summer 2009, while the condos will be ready to be occupied by 2010. The retail space will be ready by spring of 2009.Brick Row is being constructed on a site that previously housed a 35-year-old apartment complex as well as 19 single-family homes. “We see it as a way to take out old apartment stock and revitalizing the entire community,” Richard Barge, president of Winston Capital, tells MHN.An open plaza will integrate Brick Row with the adjoining Spring Valley DART Station. Through convenient access to light rail and nearby highways, residents will easily be able to travel and commute throughout the Dallas area. Major employers such as Texas Instruments and Blue Cross Blue Shield are also located in Richardson.A prominent centerpiece of the project is McKamy Springs Park, a two-acre city park for use by residents, shoppers, nearby workers and the public. McKamy Springs is a natural spring-fed pool that was used as a watering place by Caddo Indian tribes as early as 1690. Natural amenities also include a greenbelt with hike/bike trails connecting to Richardson’s planned extension of the north-south Central Trail, a major regional trail for pedestrians and cyclists, and to the trail system leading to Dallas’ White Rock Lake.“We are excited about what Brick Row, and other transformative projects like it, mean for the future of our community,” says Steve Mitchell, mayor of Richardson. “This significant investment in our community by Winston Capital and L&B Realty allows us to further embrace a new walkable urbanism and showcase our ability to adapt and meet the needs and desires of the business professionals, residents and visitors of tomorrow.”Brick Row is the largest transportation-oriented development currently planned along the DART Red Line in Richardson. It is also the first redevelopment project to receive funds (over $9 million) from Richardson’s newly created, 900-acre tax increment finance zone. Brick Row also received $1.3 million from the North Central Texas Council of Governments for streetscape improvements.Brick Row’s name is a tribute to the original moniker and history of the Red Brick Road, now known as Greenville Avenue.