DALLAS, Texas— Generation Housing Partners LLC, a well-respected multifamily developer, has purchased an approximately 6.5-acre tract of land located at 4710 W. Illinois Avenue at Knoxville Street, directly across from the Dallas College Mountain View campus.
Scott Smith and Corbin Tanenbaum with Weitzman represented the seller, the Templo De Alabanza church.
The land, occupied by the church now slated for relocation at the time of the sale, will be the site of a new Class A mixed-income multifamily community project, HiLine Illinois, by Generation Housing Partners LLC in partnership with the City of Dallas.
Smith and Tanenbaum first marketed the site in 2023, and Smith and Tannenbaum explained the steps required to make the transaction, and the future multifamily community, a reality. They noted that everything from a typical property inspection report to a full rezone, and a capital stack alignment that included up to $35,000,000 in mortgage revenue bonds issued by Dallas Housing Finance Corporation and NOFA gap financing grants were requirements to make this happen. “But this effort was well worth it,” Smith said.
Tanenbaum added, “We are now working with the church to relocate to Northwest Dallas and have already identified the property they will be acquiring to continue their gospel outreach. The church’s congregation, the neighboring community, Dallas College – Mountain View Campus, City of Dallas and all the parties involved could not be more thrilled to see this development kickstart. It’s a win-win for everyone involved and those who live in the area.”
Generation Housing Partners, LLC, is a Texas-based developer, owner, and asset manager of Class A multi-family assets throughout the southwest. As a long-term owner, GHP has been involved in the development, construction, and management of over 4,000 units with a capitalization value of approximately $385,000,000.00. The units include multi-story apartment properties for families, seniors, senior cottages, rehabilitation, and adaptive reuse developments. GHP has partnered with the DHFC in multiple other projects including Estates at Shiloh and Westmoreland Station. Furthermore, the City of The City of Dallas, Dallas Housing Finance Corporation (DHFC) and Generation Housing Partners partnerships include the recently started Estates at Ferguson, a 164-unit project in East Dallas, and Tenison Lofts at Samuel Grand, a 164-unit mixed-income housing development called a ‘significant milestone in the city’s efforts to expand access to high-quality, affordable and mixed-income housing.”
