Dive Brief:
- Verizon's plans for a Gensler-designed, $1 billion mixed-use complex in Irving, TX, are being delayed by city officials who said they are concerned about the impact of an additional 1,800 multifamily units in the area, The Dallas Morning News reported.
- City council members said they want Verizon to build the office component of its development first, but Verizon said the housing is necessary to draw "transit-oriented" corporate tenants.
- Verizon representatives said that a continued delay in project approvals could put the entire development at risk.
Dive Insight:
Verizon's plans for the 110-acre parcel across from its 1 million-square-foot, south-central headquarters include offices, a commuter rail station, retail, a hotel, townhouses, high- and low-rise apartments and lofts over the retail spaces. The company said that other large employers, like Toyota, which just moved its U.S. headquarters to nearby Plano, have also planned multi-use projects around their main offices, with similar "lifestyle cores" at the center.
However, the city, which The Morning News said generally approves of the project, also said it wants to see many of the residences in high-rise buildings instead of spread throughout the development. Specifically, council members said they have a seven-story, high-rise with limited rentals in mind for the first residential building.
The city of Irving is also the location of the under-construction, $173 million Irving Music Factory, a public-private partnership (P3) between the city and developer ARK Group. Balfour Beatty completed the first phase of construction, and Skanska took over the remainder under a $94 million contract.
