The city announced April 12, in partnership with real estate firm Cushman and Wakefield, that it has issued a request for proposals to find a firm to establish a high-density, transit-oriented development on 14.47 acres at the station, according to a news release.
Through this request for proposals, the city is hoping to use the station’s proximity to the Richardson Innovation Quarter and create a mixed-use development on the site.
Upon completion, the new development at Arapaho Center Station would include traditional and co-working office space, specialized space for emerging industries, retail shopping, dining and modern housing, city officials said in the release.
“We have a once-in-a-lifetime opportunity to realize our vision for Richardson’s last remaining light rail station, right at the entry to our innovation district,” Richardson Mayor Paul Voelker said in a statement. “That is why we have been thoughtfully, actively preparing the site over the past five years, working closely with property owners and nearby stakeholders while removing barriers for the development community. We cannot wait to hear from master developers who can help us fully realize our ambitions.”
The Richardson Innovation Quarter, or The IQ, is a 1,200-acre industrial area east of US 75 that has served as the historical home to the city’s technology and telecommunications firms. Being the subject of an in-depth, city-led revitalization effort for several years, the area is envisioned to become the "premier tech hub in Texas," according to a 2018 vision statement.
The estimated 14.47-acre site, located near Arapaho Road and US 75, is viewed by city officials as a major entry point to The IQ, according to the release.
“This premier site will leverage the existing relationship with the Telecom Corridor area companies and UTD to become the gateway to Richardson’s emerging Innovation Quarter,” said Maureen Kelly Cooper, executive director of Cushman and Wakefield, in a statement. “This mixed-use development will draw start-ups as well as ‘scale-ups’ due to its centralized location, access to transit and ability to attract and retain a highly educated workforce.”
According to the release, the site around the Arapaho Station is owned by DART and is used for commuter parking and a bus transit station. An additional 24 acres of land immediately adjacent to the DART property could be part of the overall masterplan, depending on adjacent property owner interest, the release stated.
For more information or to fill out a proposal, visit www.arapahocenterstationtod.com. The deadline for proposal submissions is June 7.
