New loan will finance next phase of Dallas’ RedBird redevelopment Steve Brown, The Dallas Morning News
Two local banks have teamed up to provide construction financing for the next phase of redevelopment of the former RedBird Mall property in Southwest Dallas.
Texas Security Bank and Texas Brand Bank are making $13.5 million in construction loans for the build-out of the central, office portion of the project at Interstate 20 and U.S. Highway 67.
The almost $200 million redevelopment of the former shopping mall site includes new retail and apartments, a hotel and office space. Texas Security Bank and Texas Brand Bank supplied the construction funding to create offices a combination of new construction and recycling existing space.
We Have To End Dallas NIMBYism Before We Can End Homelessness
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New loan finances next phase of Dallas RedBird redevelopment
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Associated Press
A makeshift cross sits firmly planted in the ground beneath an Interstate 30 overpass where people experiencing homelessness set up tents for housing in Dallas in 2016.
Over the next two years, local governments and agencies plan to spend about $70 million to house more than 2,600 individuals and families.
The ambitious effort to house thousands of individuals and families will combine the resources of three cities Dallas, Grand Prairie and Mesquite as well as the county, the local housing authority, and the Metro Dallas Homeless Alliance. It’ll rely on the efforts of many more public agencies, philanthropies and nonprofits to achieve its goals.