Dallas City Council Approves $14.5 Million Incentive to Support Buckner Station Project
Earlier this week, the Dallas City Council unanimously approved a $14.5 million incentive to support the Palladium Buckner Station Project.
It is a proposed mixed-income, transit-oriented development in the Pleasant Grove area. Situated at the Dallas Area Rapid Transit (DART) Buckner Light Rail Station at 8008 Elam Road, the project will transform an underused surface parking lot into high-quality apartments with diverse income levels. Led by Palladium USA Inc. and developed in collaboration with the Dallas Housing Finance Corporation, this initiative aims to revitalize the community.“This is an exciting development for Council District 5—the largest in this part of Southeast Dallas in decades. Palladium is a well-regarded developer known for retaining ownership and management of their properties long after completion. This project directly addresses the city’s urgent need for affordable, high-quality housing and has the potential to spur economic growth and revitalization in a community that truly needs it,” stated Council Member Jaime Resendez (District 5).
With an estimated cost of $107.1 million, the project will feature new residential buildings offering 304 mixed-income apartments, including 90 one-bedroom, 147 two-bedroom, and 67 three-bedroom units. Of these, 244 units—80%—will be income-restricted and leased exclusively to households earning at or below 60% of the area median income. The development will also include residential amenities, two parking garages with a total of 350 spaces, and a publicly accessible promenade that provides a direct pedestrian link to the DART Buckner Light Rail Station.
The city’s incentives comprise a loan not exceeding $6,183,092 and a grant up to $8,316,907, sourced from various funds managed by the City’s Office of Economic Development, including proceeds from general obligation bonds from the city’s 2006, 2017, and 2024 bond programs.
Kimberly Bizor Tolbert, Dallas’s City Manager, remarked, “This transit-oriented development marks a significant milestone for our city, representing years of planning and collaboration with DART to create vibrant, sustainable communities around transit hubs. We have long recognized how transit-oriented projects can provide essential housing, economic opportunities, and improved accessibility, especially in our southern neighborhoods. Today, we are proud to see this vision come to life.”
