Amended plan for Sherman Lofts in Richardson recommended for approval

“As things have changed over the last six to 12 months in the markets, we got our pricing and realized the feasibility of our four-story project wasn’t there,” Hancock said.

Also included in the project are potential enhancements to the city’s Central Trail, Peters said. To mitigate additional traffic flow in the area, it is also likely that an additional left-turn lane will need to be constructed near the intersection of West Spring Valley Road and South Sherman Street.

The context

The previous iteration of the plan approved in 2021 included a similar mix of uses, but had fewer apartments, Peters said. Per city documents, the previous plan was for 299 apartments in a four-story building, a four-story parking structure, three live and work units, and 932 square feet of coworking space.

A subsequent amendment was made in October 2022 to reflect parking ratios based on the total amount of bedrooms and a decrease to 294 apartments, according to city documents.

What’s next?

The zoning case is scheduled to be considered by Richardson City Council during the Dec. 11 meeting.