CARROLLTON, TX-The city, located approximately 15 miles northwest of Dallas, has partnered with High Street Residential, a Trammell Crow Co. subsidiary, to break ground on the first phase of UNION at Carrollton Square. The project is the city’s first transit-oriented development, with similar projects on the drawing board.

The development at the corner of Carroll Avenue and South Main Street in downtown Carrollton was formally the site of Foxworth Galbraith Lumberyard. Peter Braster, the city of Carrollton’s senior manager for transit-oriented development, says what’s there now is a temporary surface lot. The site is near the Dallas-Area Rapid Transit light rail’s Green Line, and is quite close to a couple of major interstate highways.

The first phase of the project will consist of 172 apartment units, seven live-work units and 4,611 square feet of retail space. Also on tap is a five-level, 125-space parking garage.

Braster tells GlobeSt.com that completion is scheduled for fall 2012. “As phase one leases up,” he adds, “they’ll start working on phase two.” The second phase will consist of 125 apartments.

Though entire construction costs were unavailable, the city is kicking in $10 million in public infrastructure and approximately $3 million for construction security incentive. Braster notes that the city has 50% participation in the project. Financing is being provided by Frost Bank.

With UNION underway, Braster is hoping two similar developments – one slated for Trinity Mills on the central-west side of town and the other for North Carrollton – will attract some interest. He says the Trinity Mills location would be ideal for a transit-oriented development, as it boasts both the DART light rail and is the transfer point for Denton County’s recently launched A-train commuter rail service. Denton County is the county just north of Carrollton, though parts of Carrollton are in Denton County.

The North Carrollton site, in the meantime, is a heavily trafficked area. Braster says the city has granted incentive to a developer near this site, and the developer is seeking financing for a project there.  “North Carrollton offers the largest opportunity because DART and the city of Carrollton own 25 acres,” Braster explains.

Braster acknowledges that once UNION is built and online, the other two transit sites should start seeing more activity. Some lenders, he points out, were cautious about putting money into UNION because “there are no class A apartments in that particular area for comparables.”

But Braster isn’t concerned and is convinced the project will do well. Carrollton’s location, and the DART Green Line that serves it, are ideal, especially for those needing to travel to the Medical Center District of Dallas, or even downtown Dallas.  

“Carrollton is in the middle of everything, where people can make those connections to different places,” he adds.