Commitment to Community Development in South Dallas
Investing in Opportunity through NMTC Initiatives
South Dallas, and particularly the historic Bonton neighborhood, has faced decades of challenges related to education, income, health, and access to opportunity. The median family income in Bonton is $24,539, with over 32 percent of residents living in poverty1. Rates of chronic diseases are among the highest in Dallas County, and residents face the shortest life expectancy in the area2.
These persistent challenges underscore the urgent need for meaningful investment and collaborative partnerships to improve the quality of life for local families. That’s why Capital One – with deep roots in Dallas – is committed to investing in the people and organizations working to build lasting opportunities in Bonton and across South Dallas.
Our commitment to South Dallas includes expanding access to jobs, supporting education, driving community revitalization, increasing affordable housing, promoting small business, as well as championing financial well-being. Through both community engagement and financing tools like the New Markets Tax Credit (NMTC) program, we’re helping local organizations transform lives and neighborhoods.
Cultivating Growth in South Dallas with Bonton Farms
Bonton Farms began as a small garden and has blossomed into a beacon of resilience. Today, it encompasses two farms, a farmer’s market, a café, and a coffee house – all located in the heart of South Dallas. Bonton Farms focuses on meeting seven essential human needs: transportation, education, financial tools, community, health, economic stability, and housing.
Capital One’s partnership with Bonton Farms dates back several years, through grants, volunteering, and engagement from Capital One associates. Recently, associates connected with the organization about its next need – a Bonton Wellness Center. That conversation led to Bonton Farms using NMTCs to help support the center’s development. Capital One is proud not only to have helped make this vision a reality, but also to have guided the organization toward more financing opportunities which turned their plans into action.
When you first arrive at Bonton Farms, you immediately want to get involved. It’s been amazing to witness firsthand how much our relationship with the organization has grown over the past few years. From local associates volunteering on the farm grounds to Capital One partially funding this new Health and Wellness Center, we’re happy we can continue to support Bonton’s holistic vision in South Dallas.
The new 11,000-square-foot Health and Wellness Center delivers healthcare, nutrition, financial education, and workforce training to more than 7,000 low-income residents each year. The center also features a financial resource hub and a maker-space to nurture entrepreneurial and trade skills.
The $8 million NMTC investment supports both infrastructure and programming that will strengthen Bonton Farms’ impact for years to come.
At Bonton Farms, our mission is to cultivate transformation by addressing the root causes of systemic inequity and fostering pathways to health, wholeness, and opportunity. We are profoundly grateful to Capital One for their enduring partnership and unwavering belief in this vision. Their instrumental role in securing NMTC funding has been catalytic, enabling cornerstone projects like the Bonton Wellness Center to come to life. This center is not merely a facility; it is a manifestation of hope, healing, and forward momentum for our community. Capital One’s steadfast commitment over the years reflects more than corporate responsibility; it reflects true alignment with our purpose. We are honored to stand alongside them as we work together to build a more just and flourishing future for Bonton.
Fostering Educational Experiences with St. Philip’s
A few miles down the road, St. Philip’s School and Community Center has served as a cornerstone institution in South Dallas for more than 75 years, providing high-quality education and wraparound services to nearly 300 students a year. The school’s reach extends far beyond the classroom, offering food pantries, arts programs, athletics, and more to residents in a community marked by high poverty and unemployment.
Capital One’s relationship with St. Philip’s is rooted in shared values and sustained engagement, resulting in unique educational moments. Capital One even donated beehives from its North Dallas campus to support the school’s environmental and science programming. Plus, the honey from the beehives is distributed through the St. Philip’s community food pantry.
With support from Capital One and the NMTC program, St. Philip’s is embarking on a transformative expansion. The $16 million NMTC transaction will add instructional spaces for the arts, a digital design lab, culinary and dance studios, and expanded food pantry services. The fine arts pavilion will also serve as a space for the broader community, hosting events, classes, and activities for students and non-students alike.
The center will also lease space for a medical clinic operated by Baylor Scott & White Health, creating a new hub for health and wellness in the neighborhood. Construction began in September 2024, with completion expected by December 2025.
St. Philip’s is a model of resilience and innovation. The NMTC-funded expansion project is the next chapter in a partnership that’s come full circle, and we’re excited to play a role in their future growth.
The New Markets Tax Credit program is a powerful tool for community development, catalyzing projects that might not otherwise happen in under-resourced neighborhoods. By leveraging NMTCs, Capital One is proud to invest in the people and places that make South Dallas resilient.
Over the past 10 years, Capital One has invested more than $250 million in 18 different NMTC projects across the Dallas-Fort Worth metroplex, including nine projects in South Dallas alone. With continued investment, partnership, and innovation, South Dallas can be a place where every resident has the opportunity to thrive. Capital One remains committed to supporting the organizations, leaders, and dreams that will shape the community’s future.
1U.S. Census Bureau. (2022). Selected Economic Characteristics: 2017-2021 American Community Survey 5-Year Estimates. Census Tract 43, Dallas County, Texas
2Parkland Health & Hospital System, “Community Health Needs Assessment 2022”, City of Dallas Office of Community Care, “Maternal & Infant Health: Dallas County