North Tyler Targeted for Master-planned Community Tyler Morning Telegraph   |   Oct 22, 2008

After sitting undeveloped for 45 years, the 395 wooded acres at the intersection of North Broadway Avenue and Loop 323 are about to be developed into the kind of project many in the community have dreamed about for the north end of Tyler.

North Chase will be a master-planned, mixed-use development of low-, medium-, and high-density residential areas. The development includes dedicated green spaces and mixed-use retail, commercial and office spaces.

It is the dream of developer Ed Thompson, who said in a press conference this morning that he’s following through on a vision held by his own mother, who moved to Tyler in 1968, and dozens of other residents and city leaders.

“This project is the result of a shared vision between North Chase Development, the City of Tyler, the Tyler Economic Development Council, Tyler 21 and the citizens of Tyler,” Thompson said. “I am excited to be part of something that many have dreamed about over the years.”

The city unveiled plans to create a pilot Neighborhood Empowerment Zone that will overlay a portion of the master-planned community. Plans to move forward with a Tax Increment Reinvestment Zone for the area were also outlined.

“I feel that we are seeing history in the making today,” said Mayor Barbara Bass. “The synergy of the North Chase development and the programs the city is rolling out are exactly what the Tyler 21 plan calls for to revitalize this area of our community. The convergence of public programs and private investment is the perfect recipe for mobilizing further development.”

City officials said that a major goal in the Tyler 21 plan was to add 3,000 more households to north Tyler and the downtown area in the next 20 years. They said the NEZ will help bring that goal to fruition by creating affordable housing, increasing economic development and improving the quality of social services, education and public safety in the neighborhood.

City officials said the north end TIRZ will support redevelopment through public investments, like streets and infrastructure, which will encourage private reinvestment.

“The TIRZ is a tool that has been used in many other communities to successfully spark private investment,” said Council Member Donald Sanders. He said the estimated total value of captured property taxes that will be invested into the TIRZ could be as much as $2.3 million.

The first area of the North Chase development to be constructed will be the Lake View Apartment Homes, a 140-unit senior living community next to a private lake. The project is designed to benefit low- to moderate-income seniors aged 55 or older through Texas Department of Housing and Community Affairs tax credits. The estimated completion date is fall 2009.

The Forest Meadow town homes will be constructed concurrently and will feature 50 three-bedroom units. The town homes will be adjacent to the Glass Recreation Center and Woldert Park. Thompson also announced today that he is gifting 11 lots within the planned community to Habitat for Humanity of Smith County.

He said the goals of his master-planned community are to promote homeownership by offering quality housing options for all income levels; to encourage substantial investment in this part of Tyler; and to create new jobs and business opportunities.

More information about this planned development is available at www.northchasetyler.com.