Dallas: Davis Street Market by Bishop Arts District Takes Another Step
Feature Illustration (above): The concept elevations for Vernon Avenue and Van Buren Avenue. Courtesy: Bishop Davis Urban LLC.
by Adolfo Pesquera
Dallas (Dallas County) — The developer of Davis Street Market just west of Bishop Arts District will be requesting an amendment to permitted land uses in order to proceed with the long-awaited apartment/retail project.
Rick Garza–the general partner of Davis Street Market LP and a principal in Bishop Davis Urban LLC (applicant on the request)–is asking the City Plan Commission to terminate deed restrictions that limit uses on the project site to warehouse, office and parking.
Garza plans to construct a mixed-use project that will include retail on the ground level and multifamily within the upper floors.
Concept renderings as presented from 2012-2016. Courtesy: RPGA Design Group Inc.
The application is to be considered at the Commission’s Thursday, May 16 meeting.
According to land records, the site was once home to a one-story, 43,910-square-foot building. It was demolished in 1998 and the site has been vacant since.
This project has made very slow progress compared to much of what’s been happening in and around Bishop Arts District, lately. It was introduced to the city’s Economic Development Committee in 2012 when Garza applied for tax increment financing from the Davis Garden TIF District.
At that time, the project area consisted of almost 1.7 acres. Its boundaries were West Davis Street between North Vernon Avenue and North Van Buren Avenue, and south of Fouraker Street.
The ground floor layout of Davis Street Market. Courtesy: Bishop Davis Urban LLC.
The project description entailed construction of a five-story mixed-use building with 68,000 to 96,000 square feet of retail and office space, about 150 apartment units totaling 150,000 square feet, and 345 parking spaces in a structured garage.
The estimated cost in 2012 was $32.7 million and Garza sought a $4 million TIF subsidy.
On-site amenities were to include a leasing office, business center, fitness center, rooftop pool and public plaza.
Garza had intended to get the majority of financing (a $25.85 million construction loan) through debt from senior/mezzanine lenders.
The Davis Garden TIF Board of Directors agreed to the $4 million with conditions. Among these were that environmental remedial activities would be completed by 2013 and infrastructure be completed and a Certificate of Occupancy acquired by Dec. 31, 2014.
Of course, these deadlines were not met. As late as 2016, the plans for Davis Street Market remained more less as originally described, according to the project’s Facebook page.
The most recent application to the Plan Commission does not explain what has caused delays, but the termination of deed restriction requests only applied to the north half of the original project site.
Adolfo Pesquera (Reporter/Editor) is a veteran news journalist. He has worked for Hearst Corp., American Lawyer Media, News Corp and Freedom Communications. His work has been published in newspapers and magazines across the USA. He is a journalism graduate of UT-RGV. He writes, edits and creates digital pages for VBX.