PILLAR: Vibrant
AGENDA DATE: September 9, 2026
COUNCIL DISTRICT(S): 14
DEPARTMENT: Office of Housing and Community Empowerment
PRIORITY: N/A
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SUBJECT
Title
Authorize acquisition by the Dallas Housing Finance Corporation of The Hartford, an existing historic office building located at 400 North St. Paul Street, Dallas, Texas 75201 for development of affordable housing - Estimated Revenue Foregone: General Fund $584,861.00 (Estimated taxes to the City over 15-year period; see Fiscal Information)
*In alignment with Dallas Housing Resource Catalog.
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BACKGROUND
Hartford Living LLC, a Texas limited liability company (Applicant), submitted an application to the Dallas Housing Finance Corporation (DHFC) requesting that the DHFC partner with Applicant or its affiliate for the acquisition, redevelopment, and operation of The Hartford, an existing historic office development which is located at?400 North St. Paul Street, Dallas, Texas 75201?(Project).
The DHFC will own the site and improvements while contracting with the Applicant who will act as the project administrator. Pursuant to the Texas Housing Finance Corporation Act, Chapter 394 of the Texas Local Government Code (Act), a Housing Finance Corporation may issue bonds to acquire affordable housing, and a multifamily residential development owned by a Housing Finance Corporation is eligible for an exemption from all ad valorem taxes, subject to the requirements of the Act.
The Project is currently not a residential development. However, upon acquisition by the DHFC and redevelopment by the Applicant, the Project will contain 217 residential units. At least 10.00% of the units will be reserved for residents earning at or below 60.00% Area Median Income (AMI), 49.00% of the units will be reserved for residents earning at or below 80.00% AMI, and the remaining units will be reserved for residents earning at or below 140.00% AMI.
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