Bonner Carrington and Sycamore Development celebrated the opening of Cypress Creek Montfort Drive, a mixed-income community of 168 apartment homes in North Dallas. Now welcoming residents, the community brings much-needed, quality affordability to a high-opportunity area of the city.
The new community, located at 14119 Montfort Drive, features a four-story building with structured parking and a resort-style pool. At Cypress Creek Montfort Drive, 116 of the apartment homes are income-restricted for residents earning between 30% and 80% of the area median income (AMI), with 52 apartment homes offered at market rate.
One-, two-, and three-bedroom apartment homes are available, featuring private balconies, stone countertops, spa-inspired showers and energy-efficient appliances. Community amenities include a fitness center, an outdoor grilling station by the pool, a business center with private work pods, and a pet spa.
“A home close to work changes everything — less time commuting, more time to enjoy your home,” said Casey Bump, president of Bonner Carrington. “We’re glad to partner with Sycamore Development to bring this much-needed housing to underserved areas of Dallas.”
Located near the Galleria Dallas and major transportation corridors including Interstate 635, Cypress Creek Montfort Drive provides residents with convenient access to employment centers, retail and community resources throughout North Dallas.
“We are grateful for the support of our investors, lenders and the City of Dallas,” said Sycamore Development principal Zachary Krochtengel. “Affordable housing is an investment in the future of North Dallas. By providing attainable homes for residents of all income levels, we foster a stronger workforce, support local businesses, and create inclusive communities where families can thrive for generations.”
Financing for the community was made possible through the collaboration of multiple public and private partners, including:
· Federal 9% Low-Income Housing Tax Credit equity syndicated by Hunt Capital Partners, awarded by the Texas Department of Housing and Community Affairs
· Construction and permanent financing from East West Bank
· A soft loan from the City of Dallas
· Funding from the U.S. Department of Housing and Urban Development’s Community Development Block Grant Disaster Recovery (CDBG-DR) Program
Additionally, 41 apartment homes are supported by the Walker Settlement Voucher program, administered by the Dallas Housing Authority, which helps expand housing opportunities for historically underserved households in higher-opportunity neighborhoods.
The community was built by Moss Construction, with Arrive Architecture Group serving as architect and Pape-Dawson as civil engineer. Bonner Carrington manages the community.
