The Dallas Housing Finance Corporation on Sept. 9 approved an inducement resolution to allow a proposed multifamily development called Hickory Trail Crossing to seek private activity bond allocation and tax‑credit financing.

Mark Feaster of Prominent Realty Advisors presented the project, describing it as “an approximate 288 unit development” on land the developer already owns on Old Hickory Trail. The team said the first phase would be affordable and that the developer has land capacity for a second phase; they told the board they will pursue a mixed‑income product that includes units at varying AMI levels, with some units proposed at 50%, 60%, 70% and 80% AMI.

Feaster said the team met with Councilmember Blair and incorporated input on income mix. Board members asked about market assumptions and whether the development would be entered in the tax‑credit lottery; the developer confirmed they intend to apply in the lottery process.

The board approved the inducement by roll call. Staff noted the inducement allows the developer to submit the state application in the October cycle; if the project is allocated bonds in the TDHCA/Texas bond process, the corporation will return with financing documents and any required agreements.