Hunt Capital Partners and Sycamore Development have announced the opening of Cabana Design District, which renovated the celebrated Cabana Hotel in downtown Dallas into mixed-income multifamily housing.
The $116 million project renovated the 1962-built property into 175 residential units. Within the property, 40% of the units are designated as affordable housing for families earning between 30% and 80% of the area median income.
In its prime, the Cabana Hotel accommodated such notable guests as The Beatles and Led Zeppelin. The project was made possible with $41 million in subsidies from the City of Dallas through the Design District Tax Increment Financing (TIF) District.
“We are thrilled to see the Cabana redevelopment come to fruition. This project is a testament to the power of collaboration and innovation, and we are excited for the positive impact it will have on the community,” said Zachary Krochtengel, president of Sycamore Development.
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