A collaborative effort has successfully secured financing from multiple sources for a new mixed-income apartment project in Dallas. The joint venture, consisting of Hunt Capital Partners, Bonner Carrington, and Sycamore Strategies, has obtained a total of $86.3 million to fund the development of Cypress Creek Apartment Homes at 14119 Montfort Drive.
According to Commercial Edge’s report, the funds include $20 million in federal 9 percent LIHTC financing awarded by the Texas Department of Housing and Community Affairs and syndicated by Hunt Capital Partners. Additionally, East West Bank has provided $32.5 million in construction financing and $22.1 million in permanent financing for the project. The City of Dallas also contributed an $11.7 million soft loan while Walker Settlement Vouchers were provided by Dallas Housing Authority’s program funded by HUD’s Community Development Block Grant Disaster Relief Program.
Construction on Cypress Creek is being carried out by Moss & Associates with IFC-Construction as their partner company.The design services are being handled by Arrive Architecture Group while Pape Dawson serves as civil engineer for this project which broke ground earlier this year with an estimated completion date set for second quarter 2026.
