A planned 30-acre mixed-use development at Sycamore School Road and Summer Creek in the city’s far South Chisholm Trail corridor has the go-ahead from zoning commissioners.
But commissioners and City Councilman Jungus Jordan, whose district includes the Chisholm Trail’s far South corridor, worried whether there’s enough retail in the developer’s plan.
The commission on Wednesday approved the rezoning 8-0 on the site near the northwest corner of Sycamore School Road and Summer Creek, bounded by the Chisholm Trail on the west.
Legacy Capital is under contract to sell the 30 acres to Realty Capital, which plans a mixed-use development with 900 multifamily units called The Dylan. Fifteen to 20 percent of the development would be commercial.
Zoning commissioners, while questioning whether Realty Capital is including enough retail, agreed its plan meets the requirements for the mixed-use zoning at 70 percent one use and 30 percent others. In this case, Realty Capital’s plan calls for 70 percent apartments and 30 percent other uses, including town homes and retail, city staff told the commissioners.
Jordan, earlier in the week at a Tuesday council meeting, called for the city staff to re-examine the definition of mixed-use, saying there’s too much room for interpretation and “mixed-use is being used as another designation of multifamily.” The Dylan plan is one Jordan said he’s concerned about.
The City Council will consider the case May 8.
Richard Myers, managing director of Realty Capital, said in an interview after the zoning hearing that he believes there’s appropriate commercial in the plan, which also includes a community plaza that nearby residents asked for in Realty Capital’s conversations with them.
“The key on the retail and restaurants is where they’re located” in the development,” Myers said.
Additionally, “it’s an institutional type of project,” he said of the the type of financing that will go into it. “You’ve got to make sure you’ve got the appropriate commercial. You’ve got to be careful you don’t put too much of one thing in that you can’t lease.”
If he secures council approval, Myers said he’ll move next to securing financing and construction drawings.
Legacy would retain two to three acres at the northwest corner of Sycamore School and Summer Creek, and Legacy’ has been talking to retailers about that site.