October 10, 2019

Pythian Pic

 

Dallas, TX

Pythian Manor is a 76-unit rehabilitation of an existing senior rental project located in the southern part of Dallas, TX.  The project was originally constructed in 1968 and consists of one, two story building.  All of the units will be rented to households whose income does not exceed 60% AMI and 75 of the units are covered by a Section 8 HAP contract. The rehabilitation of the building will allow for the updates to be made to the interiors of the apartments including kitchen and bath renovations (new appliances, cabinets, countertops), new flooring in the units, ceiling fans, and new HVAC equipment.  Additionally five units will be converted to comply with ADA requirements.  Exterior work will include a new roof, new exterior doors, painting, replacement of the boiler system, and repairs to the parking lot.

Development Partners: Steele Properties & Multi-family Mission Ministries

NDC LIHTC Equity Investment: $3,709,776

Total Development Cost: $12,416,251