Thursday, March 28, 2024

Affordable housing development coming to Old East Dallas



Kiva East is the longer term website of an 87-unit combined revenue condominium group. Developers say the reasonably priced and market price development is predicted to open Fall 2024.

DALLAS — Construction of a brand new reasonably priced housing advanced is underway on East Side Avenue in East Dallas. The mission is producing some pleasure within the City of Dallas.

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Developers, traders, metropolis employees and different mission companions formally broke floor on the longer term website of Kiva East on Tuesday. It will likely be an 87-unit combined revenue condominium group.

“We’re trying to preserve some affordability within this community,” mentioned Lisa Stephens, president of Saigebrook Development, LLC.

Developers and supporters are boasting Kiva East as an reasonably priced and market-rate housing group.

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“This is a huge game changer for District 2 and the City of Dallas,” mentioned councilman Jesse Moreno. He represents the realm and is vice chair of the City Council’s Housing Solutions Committee.

Analysts say rents have elevated greater than 16% yr over yr. They additionally say demand for reasonably priced housing, on this financial system, is excessive.

“Here in the City of Dallas we’re facing challenging time, for a good reason. We’re having new residents move to Dallas. We’re having a lot of investment happening in our great city. But what that means is that rents at our apartments continue to escalate. Our housing units continue to dwindle, because we do have more people living in our city,” Moreno defined.

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That’s why metropolis employees and builders mentioned they’re so optimistic about reasonably priced housing tasks like Kiva East.

“Kiva East is going to be a tremendous asset,” mentioned Mayor Eric Johnson.

Kiva East is a $25 million personal and public funded mission.

The constructing may have one, two and three bed room models. Future tenants can count on upgrades like granite counter tops, walk-in closets, power environment friendly facilities and way more. 

The Bezos Academy can be opening a Montessori-style early childhood training middle on the location.

“These are class A market rate apartments, offered at an affordable price,” Stephens added.

Developers mentioned they count on Kiva East to be accomplished and prepared to open by the autumn of 2024.



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