LDG Development Lands Low Income Housing Tax Credits for Gateway at Trinity Forest a $100M Dallas Fort Worth Project

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Gateway at Trinity Forest
The Low-Income Housing Tax Credit (LIHTC) is a dollar-for-dollar tax benefit that is claimed over 10 years. The 9% credit provides just what the name promises—a credit equal to 9% of eligible basis in each of those 10 years. Similarly, the 4% credit provides an annual credit of 4% of eligible basis for 10 years. In simplified terms, eligible basis refers to the taxpayer’s basis in depreciable property (which does not include land costs). A limited amount of 9% credits is available each year based on allocations to each state through a formula set by the Internal Revenue Service. As an alternative, the 4% credits are available when a specified percentage of a project’s aggregate basis is financed with tax-exempt private activity bonds that have an allocation of volume cap (PAB).

LDG Development qualified for low-income housing tax credits for its latest DFW apartment project. The 330-unit development will be designated for households earning at or below 60% of the area median income level. LDG has started work on the Gateway at Trinity Forest at 2200 Dowdy Ferry Road. a $100 million project that is expected to be ready for tenants near the end of 2027.

At the same meeting, the Dallas City Council also agreed to apply tax credits to LDG’s 180-unit Legacy on Belt Line (photo) and 204-unit Heights at UNT Station.

Earlier this year, the company broke ground on two North Carolina projects, in Durham and Raleigh, that will add up 300 units of affordable housing units to the region.

Established in 1994, LDG Development is a multifamily developer that’s built more than 22,842 units across markets in Texas, Kansas, Georgia, Louisiana and Tennessee. We create vibrant, sustainable communities through innovative housing solutions. Our developments spark economic growth and empower residents to thrive.

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