Dallas - Park Lane
The Park Lane development is a major mixed-use development in North Dallas at the southeast corner of North Central Expy. and Park Ln. that was completed in 2009. The project added approximately 1.5 million sq. ft. to 244,000 sq. ft. of development already existing on the site across the street from Dallas Area Rapid Transit’s (DART) Park Lane Light Rail Station. To connect the development to the light rail station, NCTCOG provided $1.2 million under the 2005-2006 Sustainable Development Call for Projects. The infrastructure improvements in the project includes extending the elevated rail station over Park Lane and to build stairs and ramps to connect the station to the city sidewalks on the south side of the street. The City of Dallas contributed the required local match for this project in addition to funding other infrastructure around the development as part of the Vickery Meadow Tax Increment Financing (TIF) District’s Master Plan.
The Park Lane development was built on a 33-acre lot bound by Greenville Avenue, Park Lane, Blackwell Street, and Central Expy. The project added approximately 96,000 sq. ft. of office space, 605,000 sq. ft. of retail space, 325 housing units, 250 hotel rooms, and 7,600 parking spaces to the two existing office buildings with 244,000 sq. ft. of space in the first phase. The project includes street level shopping with offices, residences, and hotel rooms above, all within easy walking distance of mass transit.
This development is the first transit-oriented, mixed-use project near the Park Lane light rail station. The station is served
by the Red Line and has been open since 1997. In 2002, the rail station renovation elevated the station over the busy Park Lane as part of the northward expansion of the Red Line into Plano. The reconstruction of Central Expy. was completed in 1999, significantly reducing congestion in the area. North Park Mall, located directly across Central Expy. from Park Lane, underwent a large expansion in 2006 to make it the second largest mall in Texas. The City of Dallas set up the Vickery Meadow TIF District in 2005 to spur economic development east of Central Expy. along Park Lane. The Park Lane development was the first commercial project within the Vickery Meadow TIF District.
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