Affordable Housing in Dallas: A Growing Need
When a small group of elected city officials and community members toured an East Dallas apartment complex on Thursday, they stepped into the only vacant unit on the lot.
The two-bedroom apartment at Kiva East — funded in part by the Dallas Housing Opportunity Fund, a community-led initiative raising a mix of private and municipal funds — is like many in Dallas.
The Dallas Housing Opportunity Fund
But out of the 87 units in the affordable housing development that opened its doors in November, 71 are reserved for renters making 60% or less of the area median income — about $63,000 a year.
The Dallas Housing Opportunity Fund has raised nearly $30 million, including $7.5 million from Sunflower Bank and $10 million from Truist Bank, and is on track to open more than 400 affordable housing units to renters.
In January 2022, the city of Dallas entered into an agreement with LISC Fund Management, LLC — a subsidiary of Local Initiatives Support Corporation — to raise at least $40 million from private donors by the end of 2026 for affordable housing projects.
Free Childcare for Preschool-Age Kids
Parents living at Kiva East also get a valuable perk: free childcare for preschool-age kids. Bezos Academy’s Old East Dallas location is accepting applications for 3- and 4-year-olds for the fall semester.
The city of Dallas provided $6 million in seed funding to the Dallas Housing Opportunity Fund and its management entity, Local Initiatives Support Corporation (LISC) Fund Management, in 2022 to support the development of affordable housing in Dallas.
Creating Inclusive Communities
A key feature of the fund is to create more inclusive, mixed-income communities by connecting affordable housing to areas of high opportunity to support a growing workforce, said Michelle Spivak, director of business development for LISC Strategic Investments.
“If you are building on the outskirts of town by the gas station and food desert, with no schools and no transit, you don’t want to live there,” Spivak said. “How can you expect someone else to live there and have a successful life and have educated children?”
Texas Ranks Low in Affordable Housing
Rep. John Bryant, D-Dallas, lives about a mile from Kiva East apartments. He spoke to the group on Thursday about the need to support policy solutions at the state level that spur more affordable housing development.
“Texas is 44th in the nation in the effort it makes for promoting affordable housing, which means among the big states we’re at the bottom,” Bryant said. “We have 30 million people. We’re a nation-state basically. We’re the ninth-largest economy in the world. There is no reason why we would be dead last in housing.”
Addressing the Shortage of Affordable Homes
Bryant cited data from the National Low Income Housing Coalition’s The Gap report, an annual snapshot of the affordable housing supply across the nation. Texas has 25 affordable homes per 100 extremely low-income renter households, among the lowest in the nation and just above Florida, Arizona, California and Nevada, according to the 2024 report.
Bryant also added that it’s bad for business to keep customers economically burdened by housing costs. He said he wants Texas lawmakers to step up and carve out more than the $13 million sliver of affordable housing received from the state’s more than $300 billion biennial budget.
Other Affordable Housing Projects
In addition to the East Dallas complex, LISC staff gave tours to residents and officials, including Dallas City Council members Kathy Stewart, Zarin Gracey and Jaynie Schultz, who visited two complexes in Oak Lawn developed in part by the strategic fund.
Oak Lawn Place, which prioritizes LGBTQ renters who are 55 years or older, will add 84 units affordable at or below 60% of the area median income.
Of Rawlins Chateau’s 54 affordable units, 22 apartments are reserved for people with disabilities who experienced chronic homelessness. A unit of Metrocare’s behavioral health services is also on-site for direct access to families.
Conclusion
The Dallas Housing Opportunity Fund is working to address the shortage of affordable homes in Dallas, with a focus on creating inclusive, mixed-income communities. The fund has raised nearly $30 million and is on track to open more than 400 affordable housing units to renters.
While there is still much work to be done, the progress made so far is a step in the right direction. As Rep. John Bryant said, “There is no reason why we would be dead last in housing.” With continued support and investment, Dallas can become a leader in affordable housing and provide opportunities for all its residents to thrive.
Frequently Asked Questions
What is the Dallas Housing Opportunity Fund?
The Dallas Housing Opportunity Fund is a community-led initiative that raises a mix of private and municipal funds to support the development of affordable housing in Dallas.
How many affordable housing units will the fund create?
The fund is on track to open more than 400 affordable housing
