PILLAR: Vibrant
AGENDA DATE: February 11, 2026
COUNCIL DISTRICT(S): 11
DEPARTMENT: Office of Housing and Community Empowerment
PRIORITY: N/A
______________________________________________________________________
SUBJECT
Title
Authorize (1) the adoption of a Resolution of Support for Coit Broderick, LP dba The Broderick 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 2026 9% Competitive Low Income Housing Tax Credits for the development known as The Broderick, to be located at 12800 Coit Road, Dallas, Texas 75251 (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
Coit Broderick, LP dba The Broderick and/or its affiliate(s) (collectively referred to as the Applicant) submitted a request for support to the City of Dallas in connection with its proposed 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 The Broderick, a ground-up 108-unit senior multifamily housing development located at Project.
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
The Applicant proposes to develop 108 income-restricted units designated for senior households (55+). The development will consist of a four-story residential building with one-bedroom units and associated common areas designed to support independent senior living. The Project site is zoned MU-3, and no zoning changes are required. The Applicant proposes to develop 108 units, to include 108 one-bedroom units. The Project will be a four-story construction product. The units will include energy efficient appliances and lighting and other TDHCA-required features. Amenities include a furnished fitness center, community room, warming kitchen, clothes care center, leasing office, multi-functional activity room and business center. Unit amenities will include durable surfaces such as vinyl plank flooring, fully appointed kitchens, ceiling fans in living room and bedroom, attractive finishes and water-saving plumbing features.
St. Margaret, Inc. - a member of the Catholic Housing Initiative - has partnered with Carleton Construction to develop The Broderick - an affordable apartment community for seniors aged 55 and better offering 108 one-bedroom apartments with access to high-quality amenities and supportive services in order to create affordability in a high opportunity area of Dallas. The Broderick will be built on the excess parking on the St. Jude Park Central property located at 8102 Lyndon B Johnson Freeway. The owner of St. Jude Park Central St. Jude, Inc. - has an option agreement for the transfer of the parking area to St. Margaret, Inc. for the development of The Broderick.
The Broderick is in an amenity-rich and high-opportunity neighborhood in North Dallas with excellent access to public transit as well as in the service area of several private curbside transit services. From groceries to fitness clubs and churches to restaurants, an elderly resident will be able to access amenities for daily life that will alleviate isolation and encourage participation and integration into the neighborhood to supplement the relationships and supports located on-site at The Broderick.
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.
Total development costs are anticipated to be approximately $29,638,371.00. The hard cost construction budget is anticipated to be $18,299,055.00. which is $169,435.69 per unit. The total construction amount includes a 7.00% contingency.
|
Proposed Financing Sources |
Amount |
|
Construction Loan |
$16,050,000.00 |
|
Government Loan |
$ 4,000,000.00 |
|
National Equity Fund |
$ 6,878,624.00 |
|
St. Margaret, Inc./Carleton/DHFC |
$ 959,247.00 |
|
City of Dallas |
$ 500.00 |
|
FHLB Dallas AHP |
$ 1,750,000.00 |
|
Total |
$29,638,371.00 |
|
Proposed Uses |
Costs |
|
Hard Construction Cost and Contractor Fees |
$20,860,923.00 |
|
Soft Costs & Financing Fees |
$ 4,474,540.00 |
|
Developer Fees |
$ 3,606,000.00 |
|
Reserves |
$ 696,908.00 |
|
Total |
$29,638,371.00 |
Upon completion of the development, 11 of the 108 units will be made available to households earning 0.00%-30.00% of Area Median Income (AMI), 54 of the 108 units will be made available to households earning between 31.00%-50.00% of AMI, 25 of the 108. There are no 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 requires applications 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%; and
§ 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 and is located in a census tract with a poverty rate below 20.00% (3.8%) and met the required application thresholds. The Market Value Analysis market type is F.
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/26-340A.pdf>
FISCAL INFORMATION
|
Fund |
FY 2026 |
FY 2027 |
Future Years |
|
General Fund |
$500.00 |
$0.00 |
$0.00 |
MAP
Attached