Council approves master development agreement with Quadrant for ‘Addison Junction’ TOD including hotel, office, entertainment district and public infrastructure

The Addison City Council approved a master development agreement on Sept. 9 with Quadrant Enterprises (QIP) to develop a Transit‑Oriented Development on town property near the DART station. The developer plans a mixed‑use project, branded “Addison Junction,” with an office building, a boutique hotel, a 20,000‑square‑foot beer‑garden concept (Van Buren’s), a multi‑building farmers market, an entertainment venue (the Hangar), and parking and public‑space improvements. The resolution and Master Development Agreement were approved by the council.

Quadrant principal Chad Cook described precedent projects and the proposed plan: a roughly 500‑space parking structure connected by a SkyBridge, a craft‑oriented retail cluster that opens to a public plaza and the Cotton Belt Trail, a 149‑room boutique hotel with pool and meeting space, and a mass‑timber office building with tenant amenities. Cook said the project is intended to activate the DART station and the park area and to be phased to permit festivals and large‑scale events.

Town staff and the developer outlined the public‑infrastructure and financing approach. The town’s proposed public contribution would finance streets, stormwater and utility connections, plaza and park programming, temporary surface parking and a parking garage that supports retail and hotel users; estimates presented ranged from about $15.5 million to $22.2 million for public infrastructure plus approximately $19 million dedicated to parking structures for office and hotel/retail. Staff said the town would seek to finance its share using a mix of cash reserves, self‑funded project funds and debt instruments (for example, certificates of obligation for public streets and utility work) and would repay internal financing from a Tax Increment Reinvestment Scheme (TIRS) and project revenues over time.

Staff emphasized that definitive agreements remain to be negotiated and brought back to council, including ground‑lease terms, the TIRS formation, and detailed construction schedules and scopes. Council members pressed for detail on timing, funding sources, when the town would convey or ground‑lease property, clawback provisions if development does not proceed, and how parking access would be prioritized between office tenants and the public. Staff said more detailed definitive agreements will be presented for council approval and that the town will retain protections including clawbacks and phased conveyance tied to project milestones.

Council approved the master development agreement. Staff will return with the required definitive agreements, the TIRS boundary and implementation plan, and final funding and contract proposals for council consideration.