The Dallas City Council announced on May 27 that it has approved a total of $7.9 million in federal funds to construct a housing project that aims to provide affordable, quality housing to residents of South Dallas. The funds come from the Community Development Block Grant ($4.4 million) and HOME investment funds ($3.5 million).
The development plan seeks to address issues brought about by a 2021 audit that concluded the City of Dallas historically did not fund infrastructure and housing development plans in low-income areas.
As proposed and approved, the new community development will comprise 300 units, with just slightly more than half designated as market-rate one-, two-, three-, and four-bedroom apartments.
“District 4 desperately needs high-quality housing that can meet the diverse needs of individuals and families living in this area,” said District 4 Councilwoman Carolyn King Arnold.
The planned housing division will be located on a 22-acre parcel just off Southern Oaks Boulevard. Currently, the project is called The Terrace at Southern Oaks, and the first units are anticipated to be available as soon as fall 2023. Non-subsidized rates will range from $900 up to approximately $2,000 monthly.
“The Terrace at Southern Oaks is a good example of how we can partner with the private sector to target investment in mixed-income housing near other City investments in infrastructure to help ensure the community has access to high-quality, attainable housing and the necessary resources for economic growth,” said Kyle Hines, assistant director for the Department of Housing and Neighborhood Revitalization.
The 2021 audit determined that City planning officials tended to locate major investment projects in areas with higher incomes and resources to secure the best returns.
LDG Development has been taped to build the project, which is estimated to take as long as 24 months to construct. The development will include amenities such as a swimming pool, business and fitness centers, spacious floor plans, and upgraded amenities.
“LDG is committed to providing high-quality housing for all segments of the markets we serve,” said Jake Brown, development manager for LDG Development. “The Terrace at Southern Oaks will reflect this commitment and will provide a place that our future residents will be proud to call home. We are proud to continue our relationship with the City of Dallas and excited to bring this much needed housing to District 4.”