High Street Residential and JV partner Tokyu Land Corporation broke ground on a new multifamily community in downtown Richardson on April 6.
The four-story building is expected to be completed by late 2027, according to a news release from the city.
The overview
The 281-unit multifamily community, located at 110 E. Polk St., replaces two existing buildings and a surface parking lot. The apartments will range from studios to two-bedrooms and from 590 to 1,340 square feet.
“We see this project as a catalyst for the future of Downtown Richardson. It will build on the existing momentum, bringing new energy and investment to the heart of the city,” said Kevin Hickman, a principal with High Street Residential in Dallas, in the release.
The apartment complex will have direct access to the 4.2-mile Central Trail and will be within walking distance of Main Street.
Planned amenities include coworking areas, a pool, grilling stations, a fitness center and a dog-wash station.
How we got here
The development represents a public-private partnership between the city of Richardson and High Street Residential, the residential subsidiary of Trammell Crow Company, City Manager Don Magner said.
The city provided Tax Increment Financing support to facilitate additional public infrastructure projects alongside the multifamily development, including a complete reconstruction of Polk Street with new bike lanes, sidewalks and street parking. The development will also include a new public green space and 75 parking spaces available to the public within a shared garage.
Magner said the city has been working toward redeveloping this property for over a decade.
“Transformational projects like Polk Street don’t happen by accident,” Magner said at the groundbreaking. “They are the result of intentional planning, strong partnerships, and a shared belief in what this area can become.”
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