PILLAR: Vibrant
AGENDA DATE: August 12, 2026
COUNCIL DISTRICT(S): 6
DEPARTMENT: Office of Housing and Community Empowerment
PRIORITY: N/A
______________________________________________________________________
SUBJECT
Title
(1) A public hearing to receive comments regarding an application by Titanium Housing Partners, LLC and/or its affiliate(s) (collectively referred to as Applicant) to the Texas Department of Housing and Community Affairs (TDHCA) for 4% Non-Competitive Low Income Housing Tax Credits for The Pemberton at Dennis, a 188-unit mixed-income multifamily complex located at 11301 Dennis Road, Dallas, Texas 75229 (Project); (2) pursuant to Section 394.9025 of the Texas Local Government Code regarding bonds to be issued by the City of Dallas Housing Finance Corporation to finance the Project; and, at the close of the public hearing (3) authorize a Resolution of No Objection for Applicant, related to its upcoming application to TDHCA for development of the Project - Financing: This action has no cost consideration to the City (see Fiscal Information)
*In alignment with Dallas Housing Resource Catalog.
Body
BACKGROUND
Titanium Housing Partners, LLC, a Texas limited liability company authorized to transact business in the State of Texas and/or its affiliate(s) submitted an application to the City of Dallas for a Resolution of No Objection (RONO) for its upcoming application to Texas Department of Housing and Community Affairs (TDHCA) for 2026 4% Non-Competitive Housing Tax Credits (4% Housing Tax Credits). The 4% Housing Tax Credits will be used for the development of the Pemberton at Dennis, a 188-unit mixed-income multifamily complex located at 11301 Dennis Road, Dallas, Texas 75229 (Project).
TDHCA requires 4% Housing Tax Credit applicants to provide a RONO from the governing body of the jurisdiction in which the proposed development will be sited. As part of these TDHCA requirements, the governing body must also conduct a public hearing for citizens to provide comments on the proposed development. Once a resolution is adopted and submitted to TDHCA, it cannot be changed or withdrawn. This is located in City Council District 6.
TX Pemberton Dennis 2026, Ltd., a to-be-formed Texas limited partnership, will be the ownership entity. The Applicant is a Dallas-based developer, owner, and long-term asset manager of multifamily housing communities throughout Texas. A to-be-formed single asset entity or its affiliate with the Dallas Housing Finance Corporation (DHFC) as 100% owner, will be the general partner. The special limited partner will be a to-be-formed limited liability company (or its affiliate), which is 100% owned by a Texas limited liability company. An amended and restated agreement of limited partnership will be executed to admit the tax credit equity investor as investor member once identified. Pursuant to Texas Local Government Code § 394.9025, the City Council must hold a public hearing before the DHFC may issue bonds to finance the Project.
Titanium Housing Partners, LLC is the successor to the Generation Housing Development platform and has experience developing, constructing, and managing multifamily housing, including developments utilizing Housing Tax Credits. As a long-term owner, the Applicant has been involved in the development and management of thousands of units across the region.
The Applicant proposes to develop 188 units, consisting of 59 one-bedroom units, 109 two-bedroom units, and 20 three-bedroom units. The units will include energy-efficient appliances and lighting, granite countertops, balconies and patios, hardwood-style flooring, and other TDHCA-required features. The Project is new construction.
Upon completion of the development, 10 of the 188 units will be made available to households earning at or below 30% of Area Median Income (AMI), 21 units will be made available to households earning at or below 50% AMI, 103 units will be made available to households earning at or below 60% AMI, and 36 units will be made available to households earning at or below 70% AMI. The remaining 18 units will be unrestricted market-rate units.
Resident Services:
All developments will offer the standard amenities and services required by TDHCA for all non-competitive LIHTC programs, including:
• Min. 12 hours/week organized on-site K-12 programming (e.g. tutoring, after school and summer care, etc.)
• Min. 4 hours/week organized onsite classes for adults (e.g., general education, English as a Second Language, financial literacy, etc.) Weekly financial literacy classes.
• Food pantry accessible to residents (on site or via on-request transportation).
• Annual health fair in addition, the community will provide free annual flu shots.
• Notary services for tenants.
• Min 2x/month arts, crafts, or other recreational activities (e.g., book club).
• Min 2x/month on-site social events (e.g., potlucks, holiday celebrations, etc.).
Unit Amenities:
Resort-style swimming pool, community event center, business center, and a state of the art fitness center. The development is located along Dennis Road in northwest Dallas, providing access to neighborhood retail, grocery stores, parks, schools, and public facilities. The site is served by Dallas Area Rapid Transit (DART) bus routes and is located near major roadway corridors, allowing convenient access to employment centers and community services.
Total development costs are anticipated to be approximately $64,796,696.00, which includes the acquisition price for the land. The hard construction budget is anticipated to be $37,162,375.00, which is approximately $198,729.28 per unit.
|
Proposed Financing Sources |
Amount |
|
Conventional Loan/FHA |
$25,200,000.00 |
|
LIHTC Syndication Proceeds |
$22,203,943.00 |
|
Deferred Developer Fee |
$ 3,777,534.00 |
|
City of Dallas Loan |
$ 8,950,000.00 |
|
Bond Revenue |
$ 4,665,219.00 |
|
Total |
$64,796,696.00 |
|
Proposed Uses |
Costs |
|
Land Acquisition |
$ 2,700,000.00 |
|
Hard Construction Cost and Contractor Fees |
$37,162,375.00 |
|
Soft Costs & Financing Fees |
$ 8,454,574.00 |
|
Other Financing |
$ 7,479,747.00 |
|
Developer Fees |
$ 7,600,000.00 |
|
Reserves |
$ 1,400,000.00 |
|
Total |
$64,796,696.00 |
The Project is a mixed-income multifamily development located in a census tract with a poverty rate below 20% and provides affordable housing opportunities for households at multiple income levels.
If awarded tax credits by TDHCA, the Applicant will work with appropriate City departments during planning and design to incorporate security best practices and community-oriented design principles. The development will include controlled access, camera systems, and other safety features consistent with multifamily best practices.
To receive a staff recommendation for a RONO, the Applicant must satisfy all threshold requirements and affirmatively further fair housing. The fair housing rating is low positive.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On April 12, 2023, the City Council adopted the Dallas Housing Resource Catalog (DHRC) by Resolution No. 23-0444. The DHRC provides policy guidance and evaluation criteria for developments seeking Resolutions of Support or Resolutions of No Objection for Housing Tax Credit applications submitted to TDHCA.
On April 22, 2026, the City Council authorized an amendment to the Dallas Housing Resource Catalog (DHRC) by Resolution No. 26-0742.
On June 9, 2026, the Dallas Housing Finance Corporation authorized a preliminary inducement resolution declaring its intent to issue private activity bonds in an aggregate principal amount not to exceed $40,000,000.00 in private activity bonds to finance a loan to a limited liability company or a limited partnership formed by Titanium Housing Partners, LLC to provide financing for Pemberton at Dennis and authorized the filing of an application for allocation of private activity bonds with the Texas Bond Review Board.
The City Council was briefed by memorandum regarding this matter on August 7, 2026. <https://dallascityhall.com/government/citymanager/Documents/FY25-26%20Memos/Office%20of%20Housing%20and%20Community%20Empowerment%20Upcoming%20Agenda%20Items.pdf>
FISCAL INFORMATION
This action has no cost consideration to the City. Another item will come before the City Council for approval in the form of a TEFRA hearing. The following is an estimate of the tax revenue the City of Dallas is projected to forgo. These projections are based on the current taxable value of the property. For DHFC projects, the values are calculated by DHFC staff at this time.
|
Actual Taxes |
|
Current Year |
Year 15 |
Year 30 |
|
$5,840.78 |
$108,632.16 |
$277,877.54 |
MAP
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