Civitas Capital Group ("Civitas” or the “Firm”), via its multifamily development subsidiary, The Shelter Companies, LLC (“Shelter"), is developing a 169-bedroom, multifamily community (the "Project") in the Bishop Arts District of Dallas, Texas. Civitas Bishop Arts Mezzanine Fund, LP (the “Fund”) is an $800,000 EB-5 debt opportunity that will partially finance the development of the Project.
Dallas is a modern and sophisticated city that continues to attract more residents and visitors each year. The cost of living in Dallas is 60% lower than the three largest U.S. metros areas of San Francisco, New York, and Los Angeles, allowing for more spending power.1 No state or local income tax contributes to more disposable income for Dallas employers and employees.
Located in the center of the United States, Dallas is a fast-growing business and logistics hub, with the 2nd-busiest airport in the world, making any North American market accessible by air in four hours or less.2 Dallas is the 9th-largest city and the 4th-largest metropolitan area in the U.S.2 Dallas spans approximately 340 square miles with many diverse neighborhoods, including the Bishop Arts District, Trinity Groves, Deep Ellum, and Uptown.
The Project is located within a Targeted Employment Area (“TEA”) and therefore qualifies for an $800,000 minimum EB-5 investment.
Sources: 1. Dallas Regional Chamber, Why Dallas flyer, 2021. 2. Airports Council International/Community Impact Newspaper, 2021. 3. U.S. Census Bureau, as of 2020. 4. Dallas Regional Economic Development Guide, 2021, data as from December 2015 to December 2020. 5. https://fortune.com/fortune500/, 2021 list, Dallas MSA.
60+ restaurants, retailers
16 restaurants, retailers
Restaurants, retail, shops, event spaces
92,000 employees, 420 restaurants and bars, 170 shops
20+ music venues, 60+ restaurants, 30+ shops
68-acres, museums, opera house, theaters
88 retail, restaurants, entertainment
Urban retail, dining, living, 1.1MM+ SF high-end retail space
Southwest Airlines corporate office, 8,600 on-site employees
370+ restaurants, shops, art/design showrooms
390-Acre medical complex, 27,000+ employees
1. Capital structure, investment size, and job requirement are current estimates and subject to change. 2. Job creation estimates are calculated using RIMS II, Regional Input-Output Modeling System. RIMS II is a tool provided by the Bureau of Economic Analysis (BEA) to help economists and researchers analyze the potential impacts of economic activities on regional economies.
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