psukhu
03 January 2005, 06:53 PM
Projects' pieces falling in place
City ready to start work on Harbor Point plan, apartment demolition
06:26 PM CST on Wednesday, December 29, 2004
By RICHARD ABSHIRE / The Dallas Morning News
City officials will close deals within days on Harbor Point – a major development on Lake Ray Hubbard to be anchored by Bass Pro Shops – and the demolition and redevelopment of the Village of Eastgate apartments site at Saturn Road and LBJ Freeway.
Mayor Bob Day said he expects to sign an agreement with the Harbor Point developers this week or next week, with work to begin on-site in late January or early February.
The city has already signed a deal on Eastgate, where about 800 apartments have been vacant since closing in July.
"We've signed the papers. We're looking at closing on or about Jan. 15," Mr. Day said. "It's moving along very nicely. It's going to be very special for us."
According to plans submitted to the city, Provident Realty Advisors will demolish the apartments and the Royal Inn – between Eastgate, Saturn Road and Interstate 635 – to make way for Eastgate Commons Shopping Center on 47.5 acres.
"The council and staff have worked long and hard to make it happen," said council member John Garner, whose district includes Eastgate. "Now we will see quality development and revitalization in south Garland."
Council member Harry Hickey, whose district will be home to Harbor Point, applauded the process.
"I'm extremely excited and happy that it's all come together," he said, adding that he expects to see construction begin by February. "I know the city of Dallas is happy with the project because they are putting a sea wall around the project to reclaim land lost to erosion. I think the project is a win-win for the cities of Garland and Dallas and all the citizens."
Last week, the council approved a tax-increment financing district along Interstate 30 in conjunction with Harbor Point. The district, which takes effect Jan. 1, will extend along both sides of the highway from the lakeshore east of Chaha Road to a point west of Broadway Boulevard. Property tax revenue generated in a TIF is plowed back into improvements in the neighborhood for a specified period.
New development is expected to increase sales and property tax revenues in the zone. Any revenues above current levels will be used to help retire bonds issued by the city to pay for Harbor Point improvements.
"The school district cannot participate in a TIF by state law," Mr. Day said. "We are talking with the other entities – Dallas County and the Dallas County Community College District – about participating."
E-mail rabshire@dallasnews.com
or call 972-272-6591, ext. 244
Online at: http://www.dallasnews.com/sharedcontent/dws/news/city/garland/stories/123004dngarupdate.24de9.html
City ready to start work on Harbor Point plan, apartment demolition
06:26 PM CST on Wednesday, December 29, 2004
By RICHARD ABSHIRE / The Dallas Morning News
City officials will close deals within days on Harbor Point – a major development on Lake Ray Hubbard to be anchored by Bass Pro Shops – and the demolition and redevelopment of the Village of Eastgate apartments site at Saturn Road and LBJ Freeway.
Mayor Bob Day said he expects to sign an agreement with the Harbor Point developers this week or next week, with work to begin on-site in late January or early February.
The city has already signed a deal on Eastgate, where about 800 apartments have been vacant since closing in July.
"We've signed the papers. We're looking at closing on or about Jan. 15," Mr. Day said. "It's moving along very nicely. It's going to be very special for us."
According to plans submitted to the city, Provident Realty Advisors will demolish the apartments and the Royal Inn – between Eastgate, Saturn Road and Interstate 635 – to make way for Eastgate Commons Shopping Center on 47.5 acres.
"The council and staff have worked long and hard to make it happen," said council member John Garner, whose district includes Eastgate. "Now we will see quality development and revitalization in south Garland."
Council member Harry Hickey, whose district will be home to Harbor Point, applauded the process.
"I'm extremely excited and happy that it's all come together," he said, adding that he expects to see construction begin by February. "I know the city of Dallas is happy with the project because they are putting a sea wall around the project to reclaim land lost to erosion. I think the project is a win-win for the cities of Garland and Dallas and all the citizens."
Last week, the council approved a tax-increment financing district along Interstate 30 in conjunction with Harbor Point. The district, which takes effect Jan. 1, will extend along both sides of the highway from the lakeshore east of Chaha Road to a point west of Broadway Boulevard. Property tax revenue generated in a TIF is plowed back into improvements in the neighborhood for a specified period.
New development is expected to increase sales and property tax revenues in the zone. Any revenues above current levels will be used to help retire bonds issued by the city to pay for Harbor Point improvements.
"The school district cannot participate in a TIF by state law," Mr. Day said. "We are talking with the other entities – Dallas County and the Dallas County Community College District – about participating."
E-mail rabshire@dallasnews.com
or call 972-272-6591, ext. 244
Online at: http://www.dallasnews.com/sharedcontent/dws/news/city/garland/stories/123004dngarupdate.24de9.html