November 1, 2010

183 Development Predicted to take 10 Years

The City of Irving predicts that the development of the 183 corridor will not be fully completed until 2019. The City leased Texas Stadium to TxDot for a 10 year term starting in 2009. As the Association learned late last year when TxDOT withdrew its offer to buy Association land near 183, the $500M needed for this expansion is mostly unfunded at this time. In this video, Doug Janeway explains that it will continue to clear the land that has been purchased to ready it for redevelopment. The City is losing $383K a year in tax revenues from the loss of business along 183. Timing on the funding for the highway expansion is unclear as apparently changes in the design have sent TxDOT seeking another round of federal approval.