A new mixed-income multifamily community has opened in North Dallas, adding 168 apartment homes to the local housing supply. Bonner Carrington and Sycamore Development have delivered Cypress Creek Montfort Drive, a garden-style property positioned as a blend of income-restricted and market-rate housing.
The community is located at 14119 Montfort Drive in North Dallas. In total, Cypress Creek Montfort Drive includes 168 apartment homes, with a significant share reserved for residents qualifying under income restrictions. According to the developers, 116 units are designated for households earning between 30% and 80% of the area median income, while 52 units are leased at market rates. This structure is intended to provide a range of rent levels within a single community.
Apartment layouts at Cypress Creek Montfort Drive include one-, two-, and three-bedroom configurations, giving prospective residents flexibility across household sizes. Each home is described as offering a private balcony, adding an outdoor component to the residential space. The amenity package is designed to support daily living and work-from-home needs, featuring a fitness center and an outdoor grilling station adjacent to the pool. A business center with private work pods provides dedicated areas for remote work, and a pet spa is available as an on-site service for residents with animals.
The capital stack for the development combines public and private sources. Federal 9% Low-Income Housing Tax Credit equity, syndicated by Hunt Capital Partners and awarded by the Texas Department of Housing and Community Affairs, played a central role in financing the income-restricted units. Construction and permanent financing were provided by East West Bank. In addition, the City of Dallas supplied a soft loan to help support the project.
Moss Construction served as the general contractor for Cypress Creek Montfort Drive, overseeing vertical construction and delivery of the residential and common-area components. Arrive Architecture Group acted as architect, providing design services for the buildings and amenity spaces.
The opening of Cypress Creek Montfort Drive comes as multifamily stakeholders continue to focus on mixed-income strategies in high-demand submarkets. The property introduces new affordable and market-rate options within North Dallas while illustrating how LIHTC equity, bank financing, and municipal support can be combined to advance income-restricted housing. Alongside this project, industry participants are convening at Connect Texas Multifamily in Dallas for discussions on broader market dynamics affecting multifamily development, investment, and lending across the state.
