The Cypress Creek multifamily project north of the Dallas Galleria is set to open in early 2026. According to officials, the project aims to provide mixed-income housing and accommodations for low- and extremely low-income renter households.
A $20 million in Low Income Housing Tax Credit financing was granted to Sycamore Strategies’ Zach Krochtengel, Hunt Capital Partners, and Bonner Carrington for the 168-unit mixed-income apartment complex at 14119 Montfort.
“Building diverse communities through quality housing solutions is not just about providing shelter; it’s about creating opportunities for connection and growth,” said Hunt Capital Partners Senior Director Acquisitions Omar Chaudhry.
The community’s housing options are designed to cater to a diverse range of residents, offering 92 one-bedroom, 64 two-bedroom, and 12 three-bedroom apartment homes, reported Candy’sDirt.
“Cypress Creek Apartment Homes will welcome residents of various income levels and offer an inclusive community where they can prosper in a high-opportunity area. Together with Bonner Carrington and Sycamore Strategies, we’re investing in a stronger Dallas,” Chaudhry added.
Here is more of what Candy’sDirt reported on the Cypress Creek multifamily project:
In addition to the LIHTC financing, EastWest Bank provided $32.5 million in construction financing and $22.1 million in permanent financing. The City of Dallas offered a $11.7 million soft loan and the Dallas Housing Authority provided housing vouchers.
Although the project is called Cypress Creek Apartment Homes, it’s not to be confused with the controversial Cypress Creek at Forest Lane development in Lake Highlands.
Attorney William Roth, who owns an adjacent office building near the Lake Highlands project on North Central Expressway, filed a lawsuit in December claiming deed restrictions prohibit multifamily use on the site. At the time, attorney Philip Kingston said the legal action was an attack on affordable housing.
CandysDirt.com reached out to Krochtengel last week and he said he and his partners are “still trying to figure out” the next steps with the Lake Highlands project.
The developer said he’s also “trying to get to the closing table” with plans for mixed-income apartments at the former Cabana Hotel.
Cypress Creek Apartment Homes
Confused? Let’s get back to the Cypress Creek Apartment Homes on Montfort.
The “affordable mixed mixed-income housing community will introduce new quality housing options for families in Dallas,” Business Wire reports.
“The community [comprises] a single four-story residential building complete with an attached four-story parking garage,” states a July 30 article. “Construction has commenced and the community will be opening in Q2 of 2026.”