Dallas Developer Duo Opens 168-Unit Mixed-Income Community

Bonner Carrington and Sycamore Development opened Cypress Creek Montfort Drive, a mixed-income community of 168 apartment homes in North Dallas.

Located at 14119 Montfort Drive, Cypress Creek Montfort Drive features 116 apartment homes that are income-restricted for residents earning between 30% and 80% of the area median income (AMI), with 52 apartment homes offered at market rate.

One-, two-, and three-bedroom apartment homes are available with private balconies. Community amenities include a fitness center, an outdoor grilling station by the pool, a business center with private work pods, and a pet spa.

Financing for the community was made possible through the collaboration of multiple public and private partners, including:

·     Federal 9% Low-Income Housing Tax Credit equity syndicated by Hunt Capital Partners, awarded by the Texas Department of Housing and Community Affairs 

·     Construction and permanent financing from East West Bank 

·     A soft loan from the City of Dallas 

The community was built by Moss Construction, with Arrive Architecture Group serving as architect.

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