Dallas firm drops plans for student apartments

PROVIDENCE – A Dallas company that had proposed to develop private student apartments on a 1.25-acre parcel in the I-195 redevelopment district has withdrawn its interest, according to the redevelopment commission.

Phoenix Property Company and Lincoln Property, through the affiliate firm, Friendship & Clifford LLC, had proposed a $60 million development for Parcel 28.

The company requested extensions of the due-diligence deadline several times. When the latest deadline ended, at the end of August, the commission received a letter from the company indicating it didn’t want to proceed with the project, according to Dyana Koelsch, a spokeswoman for the I-195 Redevelopment District Commission.

Evan England, a spokesman for Mayor Jorge O. Elorza, said the company and city officials had discussions about a tax-stabilization agreement, but the discussions never progressed to a formal application. •

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