Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Work Starts on Dallas Affordable Housing Project/Bezos School
The Dallas low income housing crunch just got a little better. Saigebrook Development started work on the $25 million, 87-unit mixed-income Kiva East community. It’ll include a tuition-free early childhood education center from the Bezos Academy.
Dallas Mayor Eric Johnson attended the groundbreaking, “Businesses want to be here, families want to be here and young people want to move here to start their lives and their careers. All that growth, however, means that we have to work together to bring even more housing to the city.”
The multi-family development will offer 70% of its units at rates affordable to those making between 30% and 60% of the area’s median income and offer the remaining 30% of units at market rate. Expected to open in December 2023, the $25 million project will be offset by $3.4 million from the Dallas Housing Opportunity Fund and $2.48 million in financing from the U.S. Department of Housing and Urban Development’s HOME Investment Partnerships Fund.
- ◦Development
