The 13-acre development, which would be located at the corner of Waterview Parkway and Frankford Road, would include up to 511 apartment units and live-work units; a four-story, limited-service hotel; and up to 19,000 square feet of retail space.
Construction on the project is slated to happen over two phases. No timetable has been projected for the site.
The project was previously discussed during a Nov. 14 City Council meeting. At the time, the council was concerned about ensuring portions of the second phase were underway before receiving a certificate of occupancy on the first phase.
Griffin Davis, a representative for the UT Dallas Student Government, said the parking development will be beneficial in alleviating housing concerns on campus.
“There's a lot of discussion about different versions of this ordinance, but it seems to me that a version that we're all happy with can get passed,” Davis said. “I think we can set the record straight that Richardson is not going to stand in the way of investors and developers that want to build [developments] for us.”
The first phase of construction will build a student housing development for UT Dallas students on a nearly 4-acre plot of land on the west side of the site. The housing development would have 171 apartments, including one-bedroom, two-bedroom and four-bedroom units. The site is expected to have 529 bedrooms and have 451 parking spaces provided through a parking garage.
Required recreational amenities of the housing development include a playground, an indoor fitness center, a multipurpose room, a business center, a study lounge, a swimming pool, an outdoor kitchen and a dog park.
A shuttle service will be required between the development and the university campus when school is in session.
The second phase, which is expected to span over 9 acres on the eastern side of the property, includes a multifamily building, a hotel and over 10,000 square feet of retail space. That phase includes an expected 695 parking spaces in the area, including a 475-space parking garage, 110 surface spaces for retail use and 110 spaces for the hotel.
The multifamily building is expected to be nearly 358,000 square feet with 335 units, five of which will serve as live-work options. They will include one-bedroom and two-bedroom units. In addition, the 64,000-square-foot hotel is expected to have 110 rooms and would have a fitness center and business center.
For more information on the Waterview project, visit here.