Pegasus Villas 7200 Stemmons Freeway Dallas, Texas

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Pegasus Villas7200 Stemmons FreewayDallas,
Texas
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The Need

• The Senior population growth continues to rise
• Seniors have a greater concentration of poor
  households due to fixed incomes and rising living
  expenses
• Two-thirds of seniors pay 30 or more of their
  incomes on housing
• More than half of seniors have excessive housing
  cost burdens
• Not enough available or affordable independent
  living facilities for seniors

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The Sitelocated at Stemmons Freeway and
Mockingbird Lane

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The Building

• The building is 16 stories tall dominates the
  landscape at Stemmons Freeway and Mockingbird
  Lane
• Paul Rudolph designed the building in the 1960s
  with over 13,000 square feet of office space
• The building is listed in the National Registry
  of Historical Places
• Mobil Oil occupied the building until 1986

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The Partners

• Glenn Lynch-Private Developer Owner of Glenn
  Lynch Companies, Inc.
• Operation Relief Center Community Development
  Corporation- nonprofit corporation and certified
  Community Housing Development Organization (CHDO)
  with the City of Dallas
• City of Dallas
• Texas Department of Housing and Community Affairs
• Federal Home Loan Bank
• U.S. Department of Housing Urban Development
• Wachovia Bank
• Red Capital
• JP Morgan Chase
• Texas BBL-General Contractor
• Alpha Barnes Real Estate Services-Leasing
  Management

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The Results
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Pegasus Villas
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Pegasus Villas
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Pegasus Villas1 Bedroom
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Pegasus Villas2 Bedroom
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Pegasus Villas2 Bedroom
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Pegasus Villas

• 156 units (124 for seniors with low to moderate
  income 32 for seniors with higher incomes)
• Units range from 550 square feet to over 1300
  square feet
• Rents are based on a comparison of the occupants
  annual income to the Area Median Family Income
• Amenities include DSL/Internet Access,
  Washer/Dryers in units, grocery/pharmacy
  delivery, coffee bar, game room, theater, fitness
  center, library, business center, and swimming
  pool
• Social services including medical, safety
  fitness, salon, financial, legal, community
  activities, transportation and continuing
  education
• Located close to Southwestern Medical Center and
  Parkland Hospital, as well as public
  transportation

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The New Beginning