Those hoping officials would do more to support new single-family development instead of just apartments got an early Christmas present, with the city council authorizing some significant financial backing for the Rivulet project in southwest Dallas.
Council members signed off on a $23.5 million economic development grant earlier this month to help with infrastructure improvements for phase one of the mixed-use project, which will see at least 300 single-family homes and 200 multifamily units built on 71 acres of undeveloped land at 6400 University Hills Blvd.
A previous draft of the resolution allowed for attached townhomes to figure into the single-family mix, but the authorized agreement scrapped that in favor of a minimum of 300 detached houses.
Situated at the northwest corner of University Hills Boulevard and W Camp Wisdom Road (catty corner to the University of North Texas at Dallas), Rivulet is a project of the real estate and investment company Russell Glen, which is also spearheading the redevelopment of the old RedBird Mall into the upcoming Shops at RedBird with Peter Brodsky. Civitas Capital and MBM Companies are also invested in the endeavor.
“Rivulet will provide a new way for Dallas residents to work, live, and play harmoniously by focusing on connection to the water, central green spaces, cutting-edge retail/restaurant concepts, and recreational opportunities,” according to the master-planned community’s website.
In addition to the single-family homes and apartments, the master plan calls for 68,200 square feet of retail (including a neighborhood grocery store), 40,000 square feet of office space, a 3.5-acre park, and more than a mile of trails and pedestrian walkways connecting the residential and commercial areas. The completed project’s value is expected to run just over $47 million.
Officials and community leaders in southern Dallas have been clamoring for more public and private investment, asserting that a lot of the development news coming out of the city tends to be concentrated in high-end neighborhoods in the central and northern parts of town.
“The City’s investment through the Chapter 380 grant agreement reflects a continued commitment to fostering equitable development and economic opportunity in the Education Corridor of southern Dallas,” city council’s resolution reads.
Rivulet also falls within the UNT-Dallas Area Plan, which was adopted back in 2009.
“We were very methodical in our approach to designing Rivulet,” said Russell Glen CEO Terrence Maiden, according to Dallas Innovates. “We wanted every element of this project to resonate with Pettis Norman’s initial vision to uplift the character and identity of Southern Dallas. With the city’s infrastructure investment, we’re able to deliver high-quality residences, offering a new level of housing choice that balances beauty, livability, and accessibility. We are confident that Rivulet will be catalytic for this Education Corridor of Dallas and a model for thoughtful, inclusive growth.”