posted on October 28, 2010 21:00
The U.S. Department of Housing and Urban Development awarded the City of Dallas a $2.25 million grant this week to acquire land and plan urban neighborhoods near four DART light rail stations.
HUD Regional Administrator Donald Babers awarded the grant based on a study completed by The Real Estate Council, which represents the interests of 1,300 Dallas area commercial real estate professionals.
The department awarded $40 million nationwide, with Dallas receiving a portion of the proceeds based on TREC’s study.
The TREC study was financed by contributions from TREC, Bank of America and the Craig and Kathryn Hall Foundation, which is backed by commercial real estate developer Craig Hall.
Dallas Business Journal, 10/21/10