After years of planning, Lancaster Urban Village is under construction and one big step closer to rebranding the area to spur revitalization and economic development.
Lancaster Urban Village is a transit-oriented development located near the Lancaster DART station, across from the VA hospital. When construction is complete, this mixed-used development will contain 193 units of affordable and market rate housing, a multi-story parking garage, and approximately 14,000 square feet of retail space.
The project will be owned by City Wide Community Development Corp., and is being developed by Catalyst Urban Development.
One of the most complex aspects of this development is the financing, which involved loans and grants from the City of Dallas Economic Development and Housing Departments, HUD 221(d) and Section 108 loans, tax-increment financing, and New Market Tax Credits.
Click on the renderings below for a larger view.
Bob Voelker, a shareholder at Munsch Hardt Kopf & Harr PC, heads up the firm’s hospitality, mixed-use and condominium practice group; he’s also business development coordinator of the firm’s real estate group. Contact him at [email protected].