Downtown Carrollton Rail Station Master Plan Phase Two
The Downtown Carrollton Rail Station Master Plan is intended to achieve an integrated vision for a transit-oriented community built around a key transit hub serving Carrollton and the Metroplex. The City of Carrollton’s primary goal for the project is to set the design framework for the transit hub integrating multi-modal, multi-agency transit service with a new urban center and gateway to the City of Carrollton. The ultimate success of the project is measured by the ability to meet this goal and individual objectives of a diverse set of stakeholders while also validating the fnancial feasibility of the project.
The future downtown transportation hub will improve local and regional access and strengthen linkages between transportation, land use and economic development. The project is also an opportunity for Carrollton to create the vision for a new symbolic center of the City. This vision will be achieved through a proposed 76 acre “walkable” / pedestrian-friendly development centered on the transit facilities and surrounded by new, high-quality residential and commercial mixed uses. The master plan provides a development and infrastructure framework within the existing downtown context in support of this vision. This framework includes sidewalks, streets, public plazas, open spaces, gateways and related infrastructure designed to “set the stage” for future development. The master plan also addresses development of a signature “Transit Hall” and “Transit Plaza” as the connecting elements between all transit components and the community.
The Master Plan has been developed in two phases. Phase One, covered in a previous report, focused on early development of key issues of overlaying passenger service with the existing freight operations of the Cotton Belt and BNSF corridors and integration of Denton County Transit Authority (DCTA) and Dallas Area Rapid Transit (DART) stations. Phase Two, the subject of this report, includes conceptual project development of the transportation components (passenger corridor alignment, track work and passenger transportation hub referred to as the “station complex”), a framework for civic/open spaces and transit-related, mixed-use development within a general ¼-mile radius of the station.
The Master Plan also addresses the cost of public infrastructure and private development components of the project. Total public infrastructure costs for the ultimate development plan is $63 million. The proposed private development costs are $518 million within three development phases for a total project cost of $581 million in 2008 dollars. The private development budget is based on a building program and phasing plan established by a market study provided by the City. Based on the development plan, a Total Development Budget and Developer Pro Forma will be created for all phases of the development. The Pro Forma illustrates the necessary gap fnancing and funding mechanisms to achieve f nancial feasibility for the entire project. Available local, state and federal funding programs suitable for transit-oriented development are identif ed to supplement the available Tax Increment Financing (TIF) alternatives already established.