Planned Mixed-Use Project of Nearly 275 Acres Would Be One of the First Along I-20

A big mixed‑use project in the works on the southern edge of Dallas would be the first such development in the Interstate 20 corridor.
Centurion American Development Group is getting approvals for the almost 275‑acre project at I‑20 and Lancaster Road. The development would include sites for construction of townhouses, apartments, retail, office and hotels.
Dallas city planners have previously approved the planned development but are making minor changes in the masterplan.

Along with the commercial construction, the University Hills project will feature “medium density residential uses that will include apartments and townhomes,” according to documents filed with the city.
A representative for Centurion American confirms the development is close to finalizing.

“They are getting zoning for a mixed‑use development,” the spokeswoman said. “We hope to have more detailed plans to share soon.”
A preliminary site plan shows that the retail and commercial construction would be concentrated at the south end of the property near I‑20.
Townhouses and apartments would be built at the north end of the heavily wooded tract near the DART light rail Blue Line.
Centurion American’s planned development is just southeast of the University of North Texas’ southern Dallas campus and is adjacent to a DART commuter rail station.

Homes in the project would be within walking distance of the transit line, according to city planners.

“The city lacks sufficient middle‑income single family residential development and the UNT area is a priority for development,” said Karl Stundins with Dallas’ economic development department. “The Centurion project fits with these two priorities.

“We are talking to them about their project but don’t have enough information at this point to comment on the specifics of their plan.”
The I‑20 corridor in southern Dallas County has seen a surge in development in the last few years. But most of the construction has been for warehouse and distribution centers for companies including Quaker Foods, BMW, Amazon and Hyundai.

Centurion’s project would capitalize on the increase in employment in the area and the growing need for moderately priced housing.
Centurion American is one of North Texas’ largest land developers building new neighborhoods in the suburbs and mixed‑use projects in urban areas.
The developer is doing the $175 million renovation of downtown Dallas’ historic Statler Hotel.
And Centurion is building a high‑density housing and commercial project north of LBJ Freeway in Farmers Branch.
The Farmers Branch‑based real estate company came under scrutiny starting last year because of its links to Grapevine‑based residential lender United Development Funding, which is being investigated by federal authorities.
But Centurion is still buying land for new developments and continuing to work on projects already in its construction pipeline.

The 275‑acre mixed‑use project is on DART’s light rail line. (Dallas City Plan Commission/Centurion American Development Group)

Steve Brown, Real Estate Editor

https://www.dallasnews.com/business/real‑estate/2017/07/19/planned‑mixed‑use‑project‑one‑first‑far‑south‑dallas via @dallasnews