Wynnewood Senior's Housing Project Information
NOTICE TO PUBLIC
Wynnewood Seniors Housing, LP, is making an application for Housing Tax Credits with the Texas Department of Housing and Community Affairs for the Wynnewood Seniors Apartments, to be located in approximately the 1500 block of South Zang Boulevard (on the West side of the street, Dallas, Dallas County, Texas 75224. This New Construction development is an apartment community comprised of approximately 140 units of which 50% will be for tenants with approximate incomes less than 60%; 35% will be for tenants with approximate incomes less than 50%, and 15% will be for tenants with approximate incomes less than 40%; of the area's median income.
Update 11/17/2011
The Wynnewood Seniors development that will be located on the current site of the Parks at Wynnewood Apartments continues to gain momentum. The architectural design team, along with Banc of America have made significant progress since the Dallas City Council provided their support for the project in August of this year.
Banc of America has now completed an additional financial review for the Texas Department of Housing and Community Affairs (TDHCA), the provider of federal funds, that will be implemented once they received an additional $850,000 in debt forgiveness from the City of Dallas. They are working on submitting a final site plan to TDHCA by the end of November, which will include various attempts at seeking a Leadership in Energy & Environmental Design (LEED) designation. Because of the potential success of the development, Banc of America has just been awarded a Affordable Housing Program (AHP) grant of $1,000,000 from the Federal Home Loan Bank of Dallas.
Lastly, the current residents are working with the Parks management on a relocation plan so that everyone has housing during and after completion of the development. Banc of America estimates receiving City of Dallas permits sometime at the beginning of the 2nd qtr 2012, at that point they will move to close with the hopes of starting construction shortly thereafter.
