The details
Council approved plans for a four-story, 90-unit multifamily residential development Sept. 11. It will be located at 305 E. Round Grove Road.
The property will be owned by Palladium USA. Planned amenities include a dog park, a playground, a clubhouse and Operation Community Care, a nonprofit that will coordinate with the property manager to provide counseling, job training, a food pantry and social events, according to the agenda item.
Also of note
The applicant is using low-income housing tax credits for the project. Council approved a resolution of support for the 9% tax credit project Feb. 20. Creating affordable housing is one of council’s 2023 priorities, and the development aligns with the Lewisville 2025 vision plan, according to the agenda item.
“Palladium is legally required to own the property for 45 years at a minimum,” said Maxwell Fisher, the project’s applicant. “This is not a developer that’s going to be developing and flipping this property. They have a management company that's local. You're not only getting a great development, but you're also getting a first-class management company."
What else?
Council also approved a zone change request that will bring townhomes to 1720 Edmonds Lane. The development will provide 16 single-family detached houses on lots with a minimum area of 4,000 square feet. The property also has a commercial building at the rear, according to the agenda item.
