D ECONOMY: NEWS
Mariposa at Western Heights, Mixed- Income Senior Housing, Opens
Mariposa at Western Heights (originally named Villas at Western Heights), a new mixed-income housing development at 1641 N. Windomere along Fort Worth Avenue, recently opened serving active adults 55 years and older. The community provides 130 residential units of which 104 units are designated for tenants earning a maximum of 30 percent, 50 percent, and 60 percent of the Area Median Income. The remaining 26 units are market-based rental units. The total project cost was approximately $30.5 million and is supported by a City of Dallas subsidy of $7,678,874 from the Fort Worth Avenue Tax Increment Financing (TIF) District (affordable housing budget category) as well as federal housing tax credits from the Texas Department of Housing and Community Affairs.
The developer, Sycamore Strategies, and the property manager, Bonner Carrington Property Management, both have experience developing and managing mixed-income properties. The project offers new Class A affordable housing options along Fort Worth Avenue.
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Swexan Hotel Receives Second Round of Dallas PACE Financing
The City of Dallas Property Assessed Clean Energy (PACE) financing program has facilitated a second PACE assessment for Harwood International's Swexan Hotel, contributing to a total of more than $48 million in PACE financing.
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