A company has broken ground on a $1 billion development in southern Dallas. "University Hills" is about a mile southeast of UNT Dallas and just north of the I-20/Lancaster Road interchange.
"When we started looking at this deal, we started looking at how can we create a project where southern Dallas can become the next Frisco?" says Hoque Global Chief Executive Mike Hoque.
Hoque says D.R. Horton and Lennar are building 580 homes, and the company is also planning shops, restaurants, a grocery store, hotel and stadium for local events. Monday, Hoque Global held a groundbreaking with officials from the City of Dallas.
Dallas has been working to improve infrastructure in the area including roads, water and sewer lines.
"Developers are not coming to the southern part of Dallas if we do not have infrastructure," says Councilman Tennell Atkins.
"This milestone is truly an example of the power of collaboration," says City Manager Kim Tolbert. "We know southern Dallas is a beacon of hope for our city."
Tolbert says Hoque Global and the City of Dallas can both benefit from the development of land just a few miles from Downtown. She says Dallas expects to spend $35 million on infrastructure in the area.
"This geographic area of our city is a jewel," she says. "It serves, in my opinion, as a calling card for Dallas."
Tolbert says the development along with UNT Dallas and plans for a police academy to be built on campus will create "long-term synergy" for the area. She says the University Hills development will serve as a "foundation for what we continue to do in southern Dallas."
Hoque Global says other parts of the Metroplex, such as Frisco, have seen large developments before, but southern Dallas represented an untapped market. The company says the project will also include a town center with a boardwalk and small lake.
"The groundbreaking of a billion dollar-plus development is common in other parts of our city and region, but it's really stayed elusive here in southern Dallas," says Hoque Global Vice President Arthur Santa-Maria.