Seco Enterprises is advancing plans for a new apartment highrise in the Panther Island district, with the proposed site located at the corner of North Main Street and Northeast Fourth Street. The project is envisioned as a roughly 250,000-square-foot tower that would combine multifamily units with ground-floor retail space.
According to information shared from city discussions, Seco’s concept for the tower includes approximately 290 apartments supported by about 9,000 square feet of retail on the ground level. The proposed mix would concentrate residential density on an urban site while activating the street frontage with commercial space.
Seco has a broader land position on Panther Island beyond the tower site itself, holding an additional 32 acres in the district. That land base could provide future optionality for further development phases, but no additional projects were detailed in the current proposal.
As reported by the Dallas Business Journal, the city is considering a performance-based incentive package tied to the development. Under the framework being discussed, the municipality could provide Seco with up to $1 million per year in grants for a period of 10 years, subject to the project’s execution and the resulting tax base.
The incentives under consideration would be structured around 80% of the city’s incremental property tax revenue generated by the project and could also draw from the city’s economic development initiatives fund. The grants would not be automatic; they would depend on the project meeting specific investment and delivery thresholds established by the city.
To qualify for the incentive package, Seco would be required to invest a minimum of $100 million in the development, including at least $75 million in hard construction costs. The project would also need to deliver a minimum 12-story building program that includes 290 apartments and 9,000 square feet of retail space, along with associated public improvements.
These public improvements were not detailed in the available information, but they form part of the conditions the city is tying to the incentive support. The structure of the proposal aligns the level of municipal participation with the scale of private investment and the resulting increase in property tax revenues.
Panther Island itself is described as a roughly 500-acre tract at the center of a major flood control project. The planned highrise would therefore be part of a longer-term transformation of the district, which is being reshaped by large-scale infrastructure work as well as new private development interest.
