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DPFC approves term sheet to convert Stemmons extended‑stay hotel into workforce housing
Summary
The board authorized negotiation of a term sheet for a GoodHomes adaptive‑reuse project at 6950 N. Stemmons Freeway, approving a PFC partnership to convert an extended‑stay hotel to workforce housing with a multi‑tier affordability mix and a planned September closing.
The Dallas Public Facility Corporation on June 24 authorized staff to negotiate and execute a term sheet with GoodHomes for an adaptive‑reuse project at 6950 N. Stemmons Freeway that would convert an extended‑stay hotel into workforce housing.
The board approved the item by roll call after hearing a presentation from GoodHomes representatives and staff. Director Stone made the motion to approve, seconded by Director Winters. The vote passed with approval recorded for all members present.
GoodHomes’ presenter Leila Feldman described the company’s adaptive‑reuse model and projected timeline. She said the company plans to close in September and to deliver the first renovated units within about six months after closing. "We converted distressed hospitality properties into workforce and…
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