North Dallas Redevelopment: A New Era for Preston-Royal

The southwest corner of Preston Road and Royal Lane, a site previously devastated by the 2019 tornado, is poised for a transformative $650 million mixed-use redevelopment. This ambitious project, spearheaded by Burk Interests and Greenway Investment Company, signals a significant shift in North Dallas’s growth trajectory, largely influenced by the new state law, Senate Bill 840.

The Changing Landscape of Development in North Dallas

For decades, North Dallas thrived, embodying an affluent and bustling ethos. However, recent years have seen much of the region’s dynamic growth shift north of the city, leaving North Dallas with a sense of nostalgia for its past glory.

The Preston-Royal site currently contributes minimally to city and school district taxes, generating only enough to fund about one police officer and one teacher annually. This low tax revenue on a premier corner highlights an urgent need for revitalization and increased investment.

Senate Bill 840: A Game Changer

The passage of Senate Bill 840 has fundamentally altered the development landscape. This legislation empowers developers to construct multifamily housing on land zoned for office, commercial, retail, or warehouse uses as a matter of right. This change significantly reduces the necessity for neighbor consent, offering developers substantial leverage and streamlining the approval process for projects previously stalled by local opposition.

Two Paths for Preston-Royal: A Comparison

Developers presented two distinct options for the Preston-Royal site, each with different impacts on tax revenue and community amenities:

The proposed $650 million project (Door No. 2) would provide a massive boost to the city’s tax base, funding approximately 56 new police officers and 100 teachers annually, alongside significant hotel occupancy and sales taxes. It’s designed to attract empty nesters and high-income residents, indirectly facilitating a turnover of nearby homes for younger families.

Addressing NIMBY Opposition and “Renter Intolerance”

Community meetings revealed strong opposition, characterized by “Not In My Backyard” (NIMBY) sentiment and what was described as “renter intolerance.” Opponents raised concerns about increased height and traffic, often resorting to disruptive tactics.

Traffic and Height Concerns Debunked

Despite neighbor fears, a professional traffic study concluded the proposed project would generate 45% less traffic than current uses. This is a matter of mathematics, not opinion, as confirmed by the city’s top traffic engineer. Similarly, concerns about building height often overlook that taller structures can boast superior architecture and presence, and don’t necessarily equate to increased bulk, especially given SB 840 allows for more site coverage at lower heights.

The Societal Cost of Stagnation

The article highlights an unsettling trend of discrimination against renters, with some residents expressing concerns about “transient people” and their “investment in the city.” Such intolerance is contrasted with areas like Oak Lawn, where diverse housing is embraced with dignity. The author notes that this pushback against sensible development has historically led to Dallas passing up high-value projects, resulting in higher taxes and massive city debt, as the city disproportionately relies on its commercial tax base.

FAQs About the Preston-Royal Development

• What is the proposed Preston-Royal project?
  It’s a $650 million mixed-use development featuring a 28-story luxury hotel and condos, a 22-story luxury apartment tower, retail, restaurants, office space, and significant open space.
• What is Senate Bill 840 and how does it affect this project?
  SB 840 allows developers to build multifamily housing on commercially zoned land “as a matter of right,” reducing the need for neighbor consent and empowering development.
• Why are some neighbors opposing the project?
  Opposition stems from concerns over increased height, traffic, and a perceived “renter intolerance,” despite expert studies refuting some of these claims.
• What are the potential financial benefits for Dallas?
  The project is projected to generate over $4.5 million in annual city taxes and nearly $6.5 million for Dallas ISD, funding numerous police officers and teachers, along with hotel occupancy and sales taxes.
• Who is the author, Dallas Cothrum?
  Dallas Cothrum is the CEO of Masterplan Consultants, a land use and zoning firm, a former university professor, and a Dallas Morning News contributing columnist.

Embracing elevated, high-quality projects like the Preston-Royal redevelopment is crucial for Dallas to secure its financial future, grow its tax base, and maintain its competitiveness, rather than remaining mired in outdated development patterns.

North Dallas Preston Royal Redevelopment