Developers are ramping up construction on one of North Oak Cliff’s most anticipated new real estate projects.
The 11-acre Bishop Arts Village at Bishop Avenue and Ninth Street has been in the works for years and is just south of the historic Bishop Arts commercial district.
Now long-time property owner Exxir Capital is pushing ahead with new residential, retail and public spaces in the second phase of the project.
"Everything is in place and it breaks ground next week," said developer Michael Nazerian. "It’s been over a decade in the making and we are very proud of it."
The construction will include 246 apartments on a public plaza with 12,000 square feet of retail.
It will join the 42,000-square-feet of retail and office space Exxir Capital is already building across the street.
Most of the new buildings will be between two and four floors. Two-story arched entryways to the development will face the street.
The project will have more than 500 spaces of public parking.
Nazerian said the development uses only 60 percent of the entitled density.
"We hope the overall project will serve as a place for all the people of Dallas to be able to enjoy and connect in a beautiful, charming outdoor environment, populated by graceful housing and creative entrepreneurs," he said. "We have put design and human scale experience first, working with artists and craftsman."
Exxir Capital’s Bishop Arts Village replaces small homes and older apartment buildings that once occupied the site located between Davis Street and Jefferson Boulevard.
The project is in an area seeing huge redevelopment with several new apartment communities and additional retail.
Nazerian said his firm plans to be a long-term player in Bishop Arts.
"This is a family legacy project, funded without outside equity so we are able to make decisions for the coming decades, not a three to four-year time horizon," he said. "I think this, coupled with the fact we have spent 10-plus years in the Bishop Arts neighborhood to gain a true understanding of it, will result in a special project that can help serve as the core of a great urban neighborhood."
The next phase of Bishop Arts Village will include apartments, retail and public space.