Hunt Capital Partners Closes $33 Million Financing for 75-Unit Supportive Housing Project in Dallas
Hunt Capital Partners, Sycamore Development, and ASD – A Home for Life have announced the financial closing of The Meadow, a $33 million rehabilitation project that will transform a former nursing home into 75 permanent supportive housing units in Dallas, Texas.
Located at 8130 Meadow Road, the development will repurpose an existing building constructed in 2016 into affordable, service-enriched housing for individuals and families facing homelessness, health challenges, disabilities, and other barriers to securing stable accommodation. The project will preserve the existing structure through adaptive reuse while providing residents with access to housing and supportive community services.
Sycamore Development is leading the project, with ASD – A Home for Life serving as co-developer. Hunt Capital Partners is contributing its expertise in affordable housing finance and tax credit syndication. The development also benefits from support from the City of Dallas and the Texas Department of Housing and Community Affairs.
The Meadow to Provide Permanent Supportive Housing
All 75 homes at The Meadow will be designated as permanent supportive housing (PSH). The development aims to serve some of Dallas’ most vulnerable residents by combining stable accommodation with resources that support long-term well-being and housing security.
The community will welcome individuals and families experiencing homelessness or at risk of homelessness, as well as people living with HIV, veterans with disabilities, individuals affected by substance use, and people protected under the Violence Against Women Act (VAWA).
The project will also include 38 homes supported by project-based Section 8 rental assistance through the Walker Settlement Voucher (WSV) program. This assistance is intended to improve housing affordability and help eligible residents access stable, long-term accommodation.
Through this approach, The Meadow will address the need for affordable housing while supporting residents who may face additional challenges related to health, disability, employment, or social circumstances.
Zachary Krochtengel, principal at Sycamore Development, said the project represents an important opportunity to provide 75 homes where Dallas residents can find security and stability. He highlighted the partnership with ASD and Hunt Capital Partners, along with the support of public agencies, in creating a community where residents can feel safe, supported, and valued.
ASD Expands Its Affordable Housing Mission
The Meadow builds on ASD – A Home for Life’s nearly 40-year commitment to developing quality, affordable housing and providing services to underserved and marginalized populations in Dallas.
The organization focuses on creating service-enriched communities where housing is connected to resources that help residents improve their health, independence, and quality of life.
Traswell C. Livingston III, president and CEO of ASD – A Home for Life, said the project demonstrates the benefits of bringing housing, healthcare, and community investment together. By transforming a building that had lost its original purpose, the development will create permanent homes for people who have experienced homelessness, disability, health challenges, and other barriers to housing.
Livingston emphasized that stable housing provides more than shelter. It can establish a foundation for improved health, personal dignity, and greater opportunities for residents. He also expressed pride in working with Sycamore Development, Hunt Capital Partners, the City of Dallas, and other community partners to deliver the development in North Dallas.
Workforce Development and Employment Opportunities
In addition to providing housing, The Meadow will feature programs designed to help residents develop practical skills and pursue employment opportunities.
A commercial kitchen will serve as the foundation for a new social enterprise, offering residents opportunities to gain hands-on work experience and develop marketable skills. The initiative is intended to connect housing stability with workforce participation and greater economic independence.
The property will also host a workforce development program that connects residents with education, training, and opportunities to pursue industry-recognized certifications in Culinary Arts and Grounds Maintenance and Landscaping.
These programs will provide pathways for residents to build professional skills, gain work experience, and prepare for employment. By combining supportive housing with training and employment initiatives, the development aims to help residents work toward greater self-sufficiency.
The integrated approach reflects the project’s broader objective of addressing not only housing insecurity but also some of the economic and social challenges that can prevent individuals from maintaining stable housing.
Adaptive Reuse Reduces Development Costs
The project also highlights the potential of adaptive reuse as a strategy for expanding affordable housing supply. Rather than constructing an entirely new building, the development team will rehabilitate an existing property that entered foreclosure following the effects of the COVID-19 shutdown.
Jeff Weiss, president of Hunt Capital Partners, said Sycamore Development identified the opportunity to preserve the 2016 structure and repurpose it for permanent supportive housing. He noted that rehabilitating the property would help deliver much-needed housing in Dallas at a lower cost than comparable new construction.
Preserving the existing building allows the development team to give the property a new purpose while making use of existing real estate. The $33 million investment will support the conversion into a community designed around affordable homes, supportive services, and workforce development.
Public-Private Partnership Supports Community Needs
The Meadow demonstrates how collaboration between private developers, affordable housing specialists, nonprofit organizations, and public agencies can help address complex community needs.
Sycamore Development brings experience in affordable housing and adaptive reuse, while Hunt Capital Partners contributes tax credit syndication and financing expertise. ASD – A Home for Life adds decades of experience in permanent supportive housing, resident services, and community-based programming.
Together, the partners are developing a project that combines housing affordability, supportive services, and employment preparation within one community.
Once completed, The Meadow is expected to provide 75 permanent supportive homes for individuals and families who face significant barriers to securing stable accommodation. Through the rehabilitation of an existing property and the integration of workforce initiatives, the development aims to create lasting community benefits while expanding Dallas’ supply of affordable, service-enriched housing.
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