In an effort to find a suitable developer, the city is partnering with CBRE, a commercial real estate firm, with the goal of transitioning the station into a mixed-use development. It is one of several transit-oriented developments by DART to revitalize stations in North Texas, per the release.
The overview
The nearly 15-acre site redevelopment aims to enhance the city’s business landscape and public transportation access, and bring resident, retail and commercial opportunities, according to the news release.
City Manager Don Magner said the city has strategically leveraged DART stations, and Arapaho Center Station is the last opportunity on the Red Line to differentiate Richardson in North Texas.
Magner said the station is the “front door” of the Richardson Innovation Quarter, a hub for tech-based businesses.
“Hopefully, this will catalyze bigger and better things in the remaining 1,200 acres,” Magner said.
Looking ahead
Once completed, Magner said the development will offer a mix of residential, retail, restaurant and entertainment options, similar to other mixed-use developments, such as CityLine and Galatyn Station.
CBRE Southwest Regional Manager Peter Jansen said the company’s role is to advise the city in the developer selection process.
Jansen said the current zoning and entitlements at the property will allow for “significant amount of development,” with over 1 million square feet of buildable space available by right, meaning developers won’t need City Council approvals.
“That does alleviate some of the predevelopment pressures,” Jansen said.
Jansen said the city has reduced the risks associated with the development by taking on some initial capital requirements and engineering and design responsibilities.
Why it matters
Magner said the Arapaho Center Station redevelopment efforts will set the tone for future projects. The city is largely built-out, so Magner said staff has focused on redeveloping areas.
“It’s going to create a place where [residents] can come and enjoy restaurants and entertainment,” Magner said.
What’s next
Magner said the city is partnering with CBRE and DART to find a capable developer for the station that meets the city’s vision.
Jansen said the selection process for a development partner will take about a year. The project will be multiphase, with the initial phase completed in 2027 or 2028.
Quote of note
Magner said Richardson City Council is enthusiastic about the project and committed to creating a partnership strategy.
“This is a rare opportunity for an innovative developer to establish a signature destination in the DFW metroplex, and the City Council is committed to supporting a visionary development that will serve as a defining project for our community,” Mayor Bob Dubey said in the news release.
