posted on July 07, 2011 22:33
A 211-acre mixed-use development at Westmoreland Road and Interstate 30 in Oak Cliff was given approval by the Dallas City Council for the last phase of the project, according to a press release issued by the developer, Stratford Land.
The multi-phase development — The Canyon in Oak Cliff —is currently being constructed. The final phase includes upgrades in public improvements in North Oak Cliff's Davis Garden Tax Increment Financing District, which Stratford Land will pay the city $1 million to construct, according to a spokeswoman for the developer.
The payment for the upgrades will include the roadway in a tax increment financing district and will allow Stratford Land up to $4 million in TIF reimbursements.
Other details of the plan for the public improvement upgrades were not immediately available.
Stratford Land has worked for nearly two years to reach Wednesday's approval from the City Council, said Ocie Vest, senior vice president for the Dallas firm.
Vest added that Stratford Land has a lot more to accomplish on the project.
6/23/11, Candace Carlisle, Dallas Business Journal