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Incap Unveils Full Scope of $2B Plan for Dallas

DALLAS-Incap has spent $240 million to buy and ready 300 acres, with tidbits of the plan emerging on occasion. Now, Incap's airing the full master plan and upcoming closings.

By Connie Gore | Updated on May 23, 2008

[IMGCAP(1)]DALLAS-With 300 acres of entitled land now ready for development, Incap Fund is pulling the cloak of secrecy off its plan after two years of market speculation and limited details. The $2-billion build-out is a vision to reshape the landscape of Oak Cliff.

“We had a blank canvas for master planning,” says Alan McDonald, managing director of Dallas-based Incap. “Now we’re starting to take offers on this.” Incap has divided the assemblage into four districts, investing $240 million into the land acquisitions, scraping roughly 2,000 apartments and prepping the dirt for resale, he tells GlobeSt.com.

Incap has nearly 100 acres of the ready-to-go mixed-use land under contract or under negotiation, with closings set to start in July. The dirt is bringing $30 per sf to $35 per sf, McDonald says.

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