The charitable arm of Dallas-based financial consultant NexPoint Advisors, L.P. is committing nearly $1.3 million to support the Community Park at Fair Park.
“NexPoint Philanthropies in Dallas has committed $1,299,410 in funding to the Community Park at Fair Park, providing a one-to-one match through Fair Park First for the Texas Parks and Wildlife (TPW) Recreation Grant previously awarded to the project,” read the announcement.
With the matching, the project will receive a total investment of nearly $2.6 million, ensuring “the project continues its momentum, delivering on a decades-long promise to bring a community green space to the residents of South Dallas surrounding Fair Park,” the press release continued.
James Dondero, founder and director of NexPoint Philanthropies, says the commitment illustrates the organization’s belief that Fair Park is “vital” to the city’s prosperity and the surrounding neighborhood’s well-being.
“The Community Park is key to delivering lasting economic and social benefits to surrounding neighborhoods. We are proud to support its transformation and hope our gift inspires others to make bold investments to move Fair Park – and Dallas – forward,” said Dondero.
“This park represents more than just a recreational space – it symbolizes the investment and commitment to the people of South Dallas… We look forward to seeing it become a hub of community life and a place of pride for generations to come,” Vice Chair of the Fair Park First Board of Directors Jason Brown said in the press release.
Last November, The Dallas Express reported that the ambitious project’s budget was short $9.5 million. Initial estimates placed the cost of the park at $60 million. However, that number was later scaled back to $39 million.
According to NexPoint’s announcement, the project is still nearly $9 million short of its target, even after the latest donation.
Fair Park has been wracked with controversy in the past.
In July 2024, The Dallas Express detailed that Biran Luallen, CEO of Fair Park First, the non-profit overseeing the park’s management and stewardship, stepped down over allegations that donor funds were being misused. An audit by Dallas-based Malnory, McNeal & Company found that Oak View Group, the company hired to oversee the park’s operations, may have misused some donated funds.
The audit concluded that over $17 million in private donations may have been used to support day-to-day operations, despite being restricted exclusively to capital improvement projects.