Dallas housing fund showcases affordable projects across city

Dallas, TX (April 26, 2024). By Leah Waters. Read the article at Dallas Morning News.

Michelle Spivak, director of business development for LISC Strategic Investments, speaks during a Dallas Housing Opportunity Fund (DHOF) affordable housing showcase event at Kiva East apartment complex on Thursday, April 25, 2024, in East Dallas. The City of Dallas provided $6M in seed funding to DHOF and its management entity Local Initiatives Support Corporation (LISC) in 2022 to support the development of affordable housing in Dallas. (Juan Figueroa / Staff Photographer)

Last Thursday, community leaders and residents visited the Kiva East apartment complex in East Dallas, a standout project funded by the Dallas Housing Opportunity Fund (DHOF). This initiative, which secured a $6 million seed from the City of Dallas, features 87 units, 71 of which cater to households earning 60% or below the median income.

The complex not only addresses housing affordability but also offers free childcare at the onsite Bezos Academy for pre-K kids, significantly aiding working parents. Managed by Local Initiatives Support Corporation (LISC), DHOF plans to develop or preserve at least 1,500 affordable units by 2031 in high-opportunity areas, promoting inclusivity and accessibility to essential services.

The door of the Bezos Academy at Kiva East apartment complex on Thursday, April 25, 2024, in East Dallas. The City of Dallas provided $6M in seed funding to DHOF and its management entity Local Initiatives Support Corporation (LISC) in 2022 to support the development of affordable housing in Dallas. (Juan Figueroa / Staff Photographer)

The project exemplifies a broader effort to tackle the affordable housing crisis in Texas, aiming to create sustainable communities and stimulate economic growth. As Dallas continues to expand such initiatives, it sets an example for integrated urban development focused on long-term community well-being.

Click here to learn more about the Dallas Housing Opportunity Fund.