The revitalization of South Dallas’ historic Forest Theater will get an $8 million boost from the Dallas Development Fund.
The long-shuttered venue off Martin Luther King Jr. Boulevard is slated to reopen in November, hosting performances and inviting visitors to take in a rooftop view of the city.
On Wednesday, the City Council approved tax credits of up to $8 million for Forest Forward, the nonprofit leading the redevelopment. The money will keep the theater on track for its fall opening and help deliver on a promised revitalization in an area that has faced historic disinvestment.
“These tax credits are critical in addressing rising construction costs and ensuring that the project remains financially viable,” said Adam Bazaldua, the area’s council member.
The funding, in the form of tax relief, comes from the federal New Markets Tax Credit Program aimed at attracting private investors to low-income communities.
“We really need the money,” said Chris Dowdy, the nonprofit’s vice president of strategy. “Having this incentive means we can deliver on what we’ve anticipated.”
The nonprofit has an additional $10 million in tax credits allocated for the theater, Dowdy said.
Forest Forward has been working toward reaching a roughly $80 million fundraising goal, which includes funds for amenities and film-screening equipment. The project has faced delays due to supply chain issues and weather.
It is fully financed through its completion, and the theater is hiring staff. Once the tax credit transaction closes, Dowdy said the theater will need just $9.5 million to complete the building debt-free.
Forest Forward has been working with the Dallas Development Fund for more than three years, Dowdy said. The fund was created for the city to apply for federal grants and received $55 million in the most recent cycle.
The Forest Theater has served as a hub for the South Dallas community and Black audiences over the decades, featuring acts including Tina Turner, B.B. King and Dallas’ own Erykah Badu. The site has been a nightclub, a synagogue, church and movie theater.
Now, it is being reimagined as a space that not only attracts visitors but showcases talent and fosters economic opportunity.
Forest Forward hopes to position the theater as a national destination and hub for arts and community. The theater is in an area that has faced historic disinvestment, segregation and redlining. The nonprofit aims to address health disparities in the area through neighborhood revitalization anchored by the theater.
The site is expanding by about 35,000 square feet with studio spaces, a 1,000-seat concert hall, a media lab, podcast studio and a cafe.
This reporting is part of the Future of North Texas, a community-funded journalism initiative supported by the Commit Partnership, Communities Foundation of Texas, The Dallas Foundation, the Dallas Mavericks, the Dallas Regional Chamber, Deedie Rose, Lisa and Charles Siegel, the McCune-Losinger Family Fund, The Meadows Foundation, the Perot Foundation, the United Way of Metropolitan Dallas and the University of Texas at Dallas. The News retains full editorial control of this coverage.