The Cypress Creek at Forest Lane has been delayed since 2021 and the lead developer is now seeking help from a city nonprofit group to get the apartments built.
The Cypress Creek at Forest Lane has been delayed since 2021, and the lead developer is now seeking more city help to get the apartments built
Construction of the Cypress Creek at Forest Lane apartments was approved by the City Council in February 2021 and later that year was greenlit by the state to get federal tax credits to subsidize housing for low-income residents. But the project drew opposition from some residents as well as City Council member Adam McGough, who represents the area and voted against the project.
“Ask yourselves, why is this project being rushed?” McGough asked corporation members Tuesday, saying he learned of the latest proposal on Friday. “It has nothing to do with what’s in the best interest of this city or this community. It can only have what’s in the best interest of this particular developer, and that’s a problem.”
“We have been working diligently to try and make this project a reality, and it has been stunted by obstacles for two years,” said Krochtengel, who said the units would accept housing vouchers and are in an area zoned for multifamily developments despite the deed restrictions. “We feel like we’re very close to the finish line, and we’d love to bring these types of units, this type of project in a high opportunity area in the city of Dallas that it so desperately needs.
Because the corporation is a public entity, the deed restrictions would be unenforceable if it took over the land, Krochtengel said. Corporation ownership also would give the developer a 100% property tax exemption in exchange for at least half of the apartments being reserved for people who make up to 80% of the area’s median income.
Corporation board member Mary Poss said she opposed taking over the property. She said she hadn’t heard or seen anything that made her believe it would be the right location for housing. She suggested that as state legislators examine the public facility corporation model, this project could draw scrutiny.
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