Rivulet Apartments Wins PFC Approval in Southern Dallas

Dallas City Council approved Rivulet Apartments, a 240-unit project at 6400 University Hills Boulevard in southern Dallas. The 6.52-acre site will hold several three-story buildings averaging 685 square feet per unit. Smart Living Residential is developing the project through Rivulet MF LandCo I, LLC, on a tract within the 90-acre Rivulet master-planned community. Russell Glen, led by Terrence Maiden, is the master developer through RG University Hills, LLC.

Council authorized the Dallas Public Facility Corporation to acquire, develop, and own the project on August 12, 2026, under File 26-2142A. The deal includes a 75-year lease with Rivulet MF LandCo I, LLC or an affiliate. Estimated General Fund revenue foregone totals $1,185,925.15 over 60 years.

Half the units, 120 total, will be income-restricted at or below 60% and 80% of area median income. Plans call for 312 surface parking spaces (1.3 per unit), courtyards, and green space.

The site sits directly across from the University of North Texas at Dallas campus. The project is part of the broader $47.2 million Rivulet development, which received a $23.5 million Chapter 380 grant from the city. The Rivulet master plan cleared the Urban Design Peer Review Panel in April 2023.

Correction, Oct. 21, 2026: An earlier version of this story said Russell Glen is developing Rivulet Apartments. Smart Living Residential is the apartment developer, and Russell Glen is the master developer of Rivulet.