DALLAS – (Realty News Report) — The Cabana Hotel, a long vacant building developed by Caesars Palace founder Jay Sarno, has been transformed into a 175-unit apartment redevelopment.
Hunt Capital Partners and Sycamore Development announced the opening of Cabana Design District, a $116 million mixed-income housing development at 899 N. Stemmons Freeway in the Design District near downtown Dallas.
Built in 1962, the 10-story former hotel in its heyday hosted famous guests including The Beatles and Richard Nixon. Following financial trouble in the late 1960s, the hotel went through several changes in ownership and use. The building, which has been vacant for more than a decade, once served as a Dallas County jail.
About 70 apartments (40% of the units) at Cabana Design District are designated as affordable housing for families earning between 30% and 80% of the area median income, according to the developers.
The City of Dallas provided $41 million in subsidies through the Design District Tax Increment Financing District. Financing also included federal and state historic tax credits.
Boilerplate: Founded in 2016, Dallas-based Sycamore has been part of 20 Low Income Housing Tax Credit applications and specializes in mixed-income, adaptive reuse projects. Hunt Capital Partners is the tax credit syndication division of Hunt Companies, an investment firm based in El Paso founded in 1974. HCP specializes in the sponsorship of Federal and State Low-Income Housing, Historic, and Solar Tax Credit Investments funds.
May 15, 2026, Realty News Report Copyright 2026
Photo credit: Hunt Companies courtesy photo
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HOUSTON— The Astrodome Conservancy will host a Market Day on May 27 as part of a national market outreach effort to inform the future of the Houston Astrodome. The session will convene a cross-sector group of prospective partners, including developers, private investors, philanthropic and mission-driven capital providers, operators, and public-sector stakeholders, to explore financially sustainable pathways to reactivate the iconic landmark. Pre-register for the Astrodome Market Day at AstrodomeConservancy.org
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File: Dallas Landmark Revived by $116M Transformation