Public Facility Corporations
The Standard Shoreline multifamily project attracted a lot of attention back in 2022 when it became one of the first proposals to be approved under the Dallas Public Facility Corporation financing structure. Residents in East Dallas’ Lochwood Neighborhood Association raised concerns about what they called a 75-year tax break. They were worried that the 60-foot…
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A Child Poverty Action Lab report released in July identified trouble brewing in the Dallas rental market, but you wouldn’t know it by the number of apartment projects approved on an almost-weekly basis by the Dallas City Council. The CPAL report issued the following findings: Public Facility Corporation Projects Three projects were approved Wednesday under…
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Just days after the Child Poverty Action Lab released a report revealing a massive shortage in affordable apartments, 279 housing units were approved under the city’s Public Facility Corporation financing structure. Savoy Equity Partners will develop the mixed-income multifamily Bishop Ridge development at 624 and 627 North Lancaster Ave., 405 North Ewing Ave., and 303…
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The public facility corporation structure — a new kind of housing project — was introduced in Dallas last year, but it seems that few have a tight grasp on how it works and what the return on investment is. That’s due in part to the city’s resistance to marketing Public Facility Corporation projects and confusion…
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Cypress Creek at Forest Lane, a mixed-income apartment complex proposed most recently as a Public Facility Corporation project, is going before the Dallas City Council on Wednesday, but the PFC funding mechanism won’t work, city officials say. The 189-unit project is being developed by Zach Krochtengel of Sycamore Strategies and was the subject of a…
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