A development firm based in Clearwater has finalized a funding package worth $75 million for a large-scale housing initiative located in Richardson. The capital comes from a mix of public and private sources, according to reporting by The Business Journals.
The financial backing supports the construction of more than 1,000 residential units. The project is situated on land previously occupied by Raytheon facilities within the Richardson city limits.
Details regarding the specific composition of the funding split between public and private entities were not provided in the available reporting. Information about the timeline for construction or the anticipated completion date remains unclear at this time.
Raytheon employs about 2,500 people in Richardson, according to local government records.