The Dallas City Council has approved an economic development grant of up to $23.5 million for a South Dallas project.
The grant will fund phase one of the Rivulet project, near 6400 University Hills Blvd. in South Dallas, according to a November 25 release from the city. The council approved the funding on November 12 to back the “mixed-use initiative” for undeveloped land in District 3.
“Rivulet will provide a new way for Dallas residents to work, live, and play harmoniously by focusing on connection to the water, central green spaces, cutting-edge retail/restaurant concepts, and recreational opportunities,” the development’s website reads.
The land, directly diagonal from UNT-Dallas, is currently undeveloped, according to a development presentation. It sits at the intersection of University Hills Boulevard and E. Camp Wisdom Road.
Phase one of the project will include six acres of nature and park design, opening up to more than 80 acres of homes and neighborhood shops in a mixed-use development, according to the website. The community will feature more than one mile of trails and natural areas.
More specifically, phase one will span approximately 71 acres, preparing for around 300 single-family detached homes and around 200 multi-family units, according to the release. This stage will focus on “critical horizontal infrastructure improvements” for future construction.
The $47.2 million total development sits in the heart of South Dallas’ “education corridor,” implementing the UNT-Dallas plan the council first adopted in 2009.
The city’s grant agreement gives funding to RG University Hills LLC, a developer group led by Terrence Maiden of Russell Glen, Dan Healy of Civitas Capital, and Mike Sanford of MBM Companies.
“The City’s investment through the Chapter 380 grant agreement reflects a continued commitment to fostering equitable development and economic opportunity in the Education Corridor of southern Dallas,” officials said in the release.
Developers planned to begin initial construction on the nearby University Hills development, spearheaded by Hoque Global, this year, as The Dallas Express reported. The city council approved a $31.4 million deal to subsidize phase one in 2022.
Just west of Dallas’ Redbird neighborhood, the city council approved a $54 million housing community in October 2024, as The Dallas Express reported at the time. The development in Capella Park was set to cover more than 15 acres and include 180 townhomes.
