City of Dallas backs large scale residential development near DART station with multimillion dollar support
Dallas, Texas – A major housing and economic development initiative is moving forward in Southeast Dallas after the Dallas City Council unanimously approved a $14.5 million incentive to support the Palladium Buckner Station Project. The project, spearheaded by Palladium USA Inc., aims to transform an underused parking lot at the DART Buckner Light Rail Station into a vibrant mixed-income residential community.
Located at 8008 Elam Road, the project will be built in collaboration with the Dallas Housing Finance Corporation and is positioned to be the most significant development in Pleasant Grove’s District 5 in decades.
“This is an exciting project for Council District 5—the largest development in this part of Southeast Dallas in decades,” said Council Member Jaime Resendez. “Palladium is a highly respected developer known for maintaining ownership and management of their properties long after construction is complete. This development directly addresses the City’s urgent need for high-quality affordable housing and has the potential to catalyze meaningful economic development and revitalization in a community that truly needs it.”
The $107.1 million project will feature 304 apartments, with a unit mix of 90 one-bedroom, 147 two-bedroom, and 67 three-bedroom units. Notably, 244 of the 304 units (80%) will be income-restricted, reserved for households earning 60% or less of the area median income.
Alongside the housing, plans include two residential parking garages offering 350 spaces, and a publicly accessible promenade connecting directly to the DART station, enhancing walkability and access to transit.
The City’s financial package includes a loan of up to $6.18 million and a grant of up to $8.32 million, pulled from several funding sources. These include bond proceeds from the 2006, 2017, and 2024 economic development and housing propositions, managed through the City’s Office of Economic Development.
Kimberly Bizor Tolbert, Dallas City Manager, called the project a milestone in the city’s long-term planning efforts.
“This transit-oriented development is a significant milestone for our City, one that reflects the culmination of years of extensive planning and coordinated efforts with DART to create vibrant and sustainable communities around transit,” she said. “We’ve long recognized the potential of transit-oriented development to bring much-needed housing, economic growth, and improved accessibility to neighborhoods in our southern sector. Today, we are proud to see this vision becoming a reality.”
With unanimous support and major funding secured, the Palladium Buckner Station Project is set to reshape a key area of Dallas while expanding access to affordable housing and public transit.
