PILLAR: Vibrant
AGENDA DATE: February 11, 2026
COUNCIL DISTRICT(S): 5
DEPARTMENT: Office of Housing and Community Empowerment
PRIORITY: N/A
______________________________________________________________________
SUBJECT
Title
Authorize (1) the adoption of a Resolution of Support for Pivotal Housing Partners, LLC. and/or its affiliate(s) (collectively referred to as the Applicant), related to its application to the Texas Department of Housing and Community Affairs for 9% Competitive Housing Tax Credits for the development of Reserve at Augustine to be located at 115 South St. Augustine Drive Dallas, Texas 75217 (Project); and (2) an agreement with the Applicant for a line of credit in the amount of $500.00 for the proposed multifamily development of the Project - Not to exceed $500.00 - Financing: General Fund
*In alignment with Dallas Housing Resource Catalog.
Body
BACKGROUND
Pivotal Housing Partners, LLC. (collectively referred to as the Applicant) submitted a pre-application to the Texas Department of Housing and Community Affairs (TDHCA) for 2026 Competitive 9% Low Income Housing Tax Credits (9% HTC) for the development of Reserve at Augustine, a ground-up development of a 96-unit mixed-income multifamily complex at Project. A Real Estate Purchase Agreement for the Property has been executed between the current owner of the Property and PHP GP Holding, LLC, an affiliate of the Applicant
In the administration of its 9% HTC Program, TDHCA awards application points for a resolution from a governing body of a local municipality on the following basis:
Within a municipality, the application will receive:
§ 17 points for a resolution from the governing body of that municipality expressly setting forth that the municipality supports (Resolution of Support) the application or development; or
§ 14 points for a resolution from the governing body of that municipality expressly setting forth that the municipality has no objection (Resolution of No Objection) to the application or development.
§ 1 point for a commitment of development funding by a local political subdivision in the form of a loan, grant, reduced fees, or contribution of value that equals $500.00 or more for applications in urban subregions.
Within the extraterritorial jurisdiction of a municipality, the application may receive:
§ 8.5 points for a resolution from the governing body of that municipality expressly setting forth that the municipality supports (Resolution of Support) the application or development; or
§ 7 points for a resolution from the governing body of that municipality expressly setting forth that the municipality has no objection (Resolution of No Objection) to the application or development.
Pivotal Housing Partners, LLC., and/or its affiliates will be the ownership entity. The Applicant is an Ohio based developer, owner, and asset manager of Class A multi-family assets located throughout 15 states. The Applicant has been involved in the development, construction, and management of over 6,000 units. Pivotal Development LLC specializes in the development, construction, management, and ownership of high-quality apartment home communities spanning 99 affordable housing properties in 15 states.
The Applicant proposes to develop 96 units, to include 30 one-bedrooms, 42 two-bedrooms, and 24 three-bedrooms units. The Project will be a modern style walk up style apartment complex. The units will include energy efficient appliances and lighting and other TDHCA-required features. Amenities will include the following unique features: ride-share parking spots targeted explicitly for the use of Uber, Lyft, and other ride-sharing services, playground, pool, a fitness center, a fully enclosed dog park, lighted pathways, BBQ grilling areas, community laundry rooms, a furnished community room, high-speed wi-fi, and recycling services. The 6.5-acre development site has access to a full-scale grocery, and a licensed daycare within a fourth of a mile, and transit and a public park within a mile.
If awarded tax credits by TDHCA, Applicant will work with the Office of Emergency Management and Crisis Response throughout the planning and design process for security input, community activities, and incorporate best practices of Crime Prevention Through Environmental Design. Additionally, the Applicant will provide modern security features to include a full camera system, controlled access, a community crime watch program, and participation in National Night Out to ensure a safe living environment for all residents and staff.
Total development costs are anticipated to be approximately $27,126,819.00, which includes the acquisition price for the land. The hard cost construction budget is anticipated to be $14,736,841.00 which is $153,508.76 per unit. The total construction amount includes a 5.00% contingency.
|
Proposed Financing Sources |
Amount |
|
Conventional Loan |
$10,500,000.00 |
|
LIHTC Syndication Proceeds |
$15,998,400.00 |
|
Deferred Developer Fee |
$ 628,419.00 |
|
Total |
$27,126,819.00 |
|
Proposed UsesCosts |
|
|
Land Acquisition |
$ 1,400,000.00 |
|
Hard Construction Cost and Contractor Fees |
$18,261,840.00 |
|
Soft Costs & Financing Fees |
$ 3,727,999.00 |
|
Developer Fees |
$ 3,225,046.00 |
|
Reserves |
$ 511,934.00 |
|
Total |
$27,126,819.00 |
Upon completion of the development, 10 of the 96 units available to households earning 0.00%-30.00% of Area Median Income (AMI), 17 of the 96 units available to households earning between 31.00%-50.00% of AMI, 54 of the 96 units available to households earning between 51-60% AMI, and 15 of the 96 units being non-income-restricted market rate units.
On April 12, 2023, the City Council adopted the Dallas Housing Policy 2033 (DHP33) by Resolution No. 23-0443 and the Dallas Housing Resource Catalog (DHRC) by Resolution No. 23-0444. The DHRC provides a policy including evaluation criteria for developers requiring Resolutions of Support or No Objection for rental housing developments seeking HTC through TDHCA.
The DHRC evaluation criteria include standard thresholds for both 4% and 9% HTC applications such as evidence of site control, TDHCA minimum site standards, affirmatively further fair housing, and other requirements
On December 10, 2025, the City Council adopted the Drivers of Opportunity Policy Framework. The Omnibus Resolution No. 25-1895 updates and consolidates previous policy resolutions, including the adoption of DHP33 by Resolution No. 23-0443, to reflect the adoption of these strategic policy changes across City departments, reinforcing City priorities and streamlining operational directives.
The evaluation criteria for 9% HTC applications seeking a Resolution of Support also require applications to meet a priority housing need of the City. The applications must meet at least one of the following five priorities:
§ The project has been selected to receive City funding such as Community Development Block Grants, Home Investment Partnerships Program, or General Obligation Bond funding;
§ The applicant intends to partner with the Dallas Housing Finance Corporation or Public Facility Corporation,
§ The proposal involves the redevelopment of public housing owned by the Dallas Housing Authority under the Choice Neighborhoods, Rental Assistance Demonstration, HOPE IV, or other similar U.S. Department of Housing and Urban Development programs that may be created;
§ The project is located in a census tract with a poverty rate below 20.00%;
§ A 50-unit project dedicating 20.00% of the units for tenants referred from the Continuum of Care list.
Applications that do not qualify as a priority housing need must score at least 50 points based on if the proposed project is mixed income, includes a non-profit or historically underutilized business, its proximity of amenities to the development site, and resident services to be provided.
The Project is qualified to receive a staff recommendation for a resolution of support as it is a priority housing need development located in a census tract with a poverty rate below 20.00% (11.2%) and met the required application thresholds. The Market Value Analysis market type is H.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
The Housing and Homelessness Solutions Committee was briefed by memorandum regarding this matter on February 3, 2026. <https://cityofdallas.legistar.com/View.ashx?M=F&ID=15131298&GUID=E94F82B5-8650-48D0-8D9C-E661B22E3A9F>
The Housing and Homelessness Solutions Committee was briefed by memorandum regarding this matter on February 10, 2026. <https://dallascityhall.com/government/citymanager/Documents/Council%20Materials/26-337A.pdf>
FISCAL INFORMATION
|
Fund |
FY 2026 |
FY 2027 |
Future Years |
|
General Fund |
$500.00 |
$0.00 |
$0.00 |
MAP
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