The Draper Tower project sits at the center of the 3-phase development project on the approximately 6-acre land assembly. The parcel to the south is being developed as The Draper Multifamily, a 150-unit apartment project utilizing HUD 221(d)(4) financing.
To the north, and the site of the existing bank drive-through facility, this portion is being rezoned in order to create a townhome community of around 20 units. The Draper Tower building, is a 40,000 SF existing all concrete/masonry structure that is the home to one of the busiest Chase Bank branches in the DFW Metroplex.
Chase utilizes the first floor of the building, and additional tenants occupy the basement level. Floors 2-5 will be redeveloped for residential lofts. The development team is currently working with State and Federal agencies in order to secure tax credits that will be a major component of the financing strategy.