PILLAR: Vibrant
AGENDA DATE: February 11, 2026
COUNCIL DISTRICT(S): 1
DEPARTMENT: Office of Housing and Community Empowerment
PRIORITY: N/A
______________________________________________________________________
SUBJECT
Title
Authorize (1) the adoption of a Resolution of Support for Blue Ridge Atlantic Development, LLC dba Blue Ridge Cascade 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 Low Income Housing Tax Credits for the development of Apex on Westmount to be located at 1228 Westmount Avenue Dallas, Texas 75211 (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
Blue Ridge Atlantic Development, LLC dba Blue Ridge Cascade and/or its affiliate(s) (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 Apex on Westmount, a ground-up development of a 56-unit mixed-income multifamily complex located at Project. The Applicant has executed a purchase agreement with Bank OZK the current property owner. The Applicant may transfer the purchase contract to an affiliate.
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
Blue Ridge Atlantic Development, LLC dba Blue Ridge Cascade, will be the ownership entity. The Applicant is a North Carolina based developer, owner, and asset manager with 45 years of experience in creating high-quality, community-focused housing. The Applicant has been involved in the development, construction, and management of over 8,000 units. Blue Ridge Atlantic Development, LLC dba Blue Ridge Cascade, specializes in Class-A affordable housing for families, seniors, and workforce communities.
The Applicant proposes to develop 56 units, to include 19 one-bedrooms, 32 two-bedrooms, and 4 three-bedrooms units. The units will include energy efficient appliances and lighting and other TDHCA-required features. Plans include onsite classes for adults (e.g. General Education Development (GED), English as a Second Language (ESL), financial literacy, etc., food pantry accessible to residents (on site or via on-request transportation. The design also features targeted resident services including social events/activities. The development is located less than 2,500 feet from the DeHaro-Saldivar Health Center and 1.34 Miles from the Parkland Health Center located in the West Dallas Multipurpose Center which is not only an amenity to future residents but it currently serves residents living in the community. The property will be located less than one mile to high frequency transit, licensed childcare center, Walgreens Pharmacy, and Martin Luther King Branch Library.
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 $18,128,284.00, which includes the acquisition price for the land. The hard cost construction budget is anticipated to be $12,582,592.00 which is $224,689.14 per unit. The total construction amount includes a 5.00% contingency.
|
Proposed Financing Sources |
Amount |
|
Loan (Freddie Mac) |
$ 3,284,000.00 |
|
LIHTC Syndication Proceeds |
$14,646,614.00 |
|
Deferred Developer Fee |
$ 197,670.00 |
|
Total |
$18,128,284.00 |
|
Proposed UsesCosts |
|
|
Land Acquisition |
$ 1,087,090.00 |
|
Hard Construction Cost and Contractor Fees |
$12,582,592.00 |
|
Soft Costs & Financing Fees |
$ 1,920,984.00 |
|
Developer Fees |
$ 2,121,774.00 |
|
Reserves |
$ 415,844.00 |
|
Total |
$18,128,284.00 |
Upon completion of the development, six of the 56 units available to households earning 0.00%-30.00% of Area Median Income (AMI), 23 of the 56 units available to households earning between 31.00%-50.00% of AMI, and 27 of the 56 units available to households earning between 51-60% AMI.
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 repealed the DHP33, by Resolution No. 25-1895 and adopted the Drivers of Opportunity Policy Framework, by Resolution No. 25-1836. 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 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%; or
§ 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% (11.1%) and met the required application thresholds. The Market Value Analysis market type is I.
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/26-334A.pdf>
FISCAL INFORMATION
|
Fund |
FY 2026 |
FY 2027 |
Future Years |
|
General Fund |
$500.00 |
$0.00 |
$0.00 |
MAP
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