Civitas Bishop Arts Mezzanine Fund, LP

Project Summary

• The Project will be just three blocks from the commercial and entertainment core of the Bishop Arts District.
• The Bishop Arts District is only 3.5 miles or 10 minutes from downtown Dallas and is a historical shopping district with over 60 boutiques, restaurants, coffee shops, bars, theaters, and art galleries.
• The neighborhood is one of Dallas' most walkable urban environment and easily accessible by trolley, bicycle lanes, and other public transit.
• The Project will target post-college renters that comprise a generation already accustomed to sharing and provide quality housing in a superior location at an attainable price.
• It will allow renters to live in the Bishop Arts submarket for as low as $1,075/month, a discount to the entry-level product in the market priced between $1,300 and $1,500.
• Furnished units and included utilities provide further ease of living and cost benefits compared to traditional multifamily.
• Consumer demand for this product was growing prior to the COVID-19 pandemic when there was little to no supply in many markets.
• Post COVID-19, demand is expected to continue increasing as renters value housing flexibility, and as income and inflation pressures make affordability a growing concern.