Funding Floods in for South Dallas Projects

PRESS RELEASE: A new nonprofit could bring more than $100M in new investments to Southern Dallas, we learned at Bisnow's Rise of South Dallas County event at the Sheraton Dallas on Tuesday.

The Real Estate Council president and CEO Linda McMahon (left, with colleague Amy Stovall) is part of the Mayor’s GrowSouth initiative, working to find a financial solution to the underinvestment there. The result is a new nonprofit, Impact Dallas Capital, which has a mission of investing to create positive, sustainable economic, social and environmental benefits for Southern Dallas residents. Impact Dallas Capital underwrote a feasibility study, which evaluated options for the creation of a private investment fund. Typically, projects there can only borrow 50% of the project cost versus 70% for the rest of Dallas, Linda says. The feasibility study showed tremendous investment opportunities in Southern Dallas with cheap, abundant and beautiful land available. If you look at the South Dallas area, it could be the 33rd largest city in the US (bigger than Boston or Atlanta), she says. [READ MORE]