Dallas Apartment Developers Eye City Loan
Hoque Global is awaiting a final vote on a $50 million loan that would enable the company to construct a 360-unit affordable housing project in southern Dallas. Hoque Global, along with Streamline Advisory Partners, aims to develop the first multifamily venture in the University Hills development. The Dallas Housing Financial Corporation recently approved the $50 million loan, submitting the request to the Dallas City Council.
Tapestry at University Hills would be located near the northwest corner of South Lancaster Road and East Wheatland Road, offering one-, two-, and three-bedroom apartments that target households earning up to 60% of the area median income level. The firms aim to begin construction on the complex by the second or third quarter of 2026 and start delivering units by mid-2027.
The complex will be part of a 270-acre development near the University of North Texas at Dallas. The project will also include 1.5 million square feet of commercial space and a hotel.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout