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DHFC approves Palladium Buckner Station partnership; developer expects $15 million city subsidy
Summary
The DHFC board approved resolutions to support Palladium Buckner Station, a proposed roughly 300‑unit transit‑oriented development at 8008 Elam Road, and heard that the developer expects a $15 million economic development commitment from the City of Dallas subject to council approval.
The DHFC board approved a package of resolutions to support Palladium Buckner Station, a multifamily transit‑oriented development proposed at 8008 Elam Road. Staff introduced developer representatives from Palladium USA (identified in the record as Kim Parker and others) and said the project had advanced through zoning and obtained a bond reservation, placing it on a closing timeline similar to other projects presented to the board.
Project details presented: Developers described the proposal as approximately 300–304 units, configured with about 80% of units restricted to 60% of area median income and 20% market‑rate units; the team also noted inclusion of two‑story three‑bedroom townhomes in part of the plan. The developer reported tax‑credit pricing in market range (tax credit pricing cited at about $0.875 on the dollar) and said they were not concerned about achieving that pricing. The project team said they had secured a City of Dallas economic development resolution of no objection and that a $15 million economic development commitment from the city (from housing bond/general obligation sources) is in process and expected to be advanced to council in coming weeks.
Board questions and design review: Directors asked about traffic, driveway geometry and pedestrian safety at the Elam Road access near the DART rail crossing; developer representatives and staff said the design had been reviewed by city traffic staff and that the developer’s site and traffic plan reflect that review. Board members also requested detailed site plans and confirmation of pedestrian connections included in CPC/residential approvals; the developer indicated approved plans include required pedestrian connections and said the parking lots adjacent to the DART ridership lots are existing and not part of the new development’s parking.
Vote and timing: The board moved and approved the resolutions supporting the Palladium Buckner Station MOU and the creation of DHFC LLCs for the project; the motion passed with recorded votes in favor from directors present. Developer representatives stated they expect the city economic development funding action to move through committee and council with a closing timeline that would align with the project’s bond requirements.
Next steps: Staff and the developer will finalize documentation, provide detailed site and landscape plans to board staff on request, and continue to coordinate city economic development grant or loan documentation to be acted on by council.
