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Oakhouse

Dallas, TX

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Project Basics

Location

Dallas, TX

MSQUARED ROLE

Investment

NUMBER OF UNITS

219

PROJECT TYPE

Mixed-Income Multifamily

TOTAL COST

$60M

Project Details

Location

Dallas, TX

PROJECT TYPE

Mixed-Income Multifamily

MSQUARED ROLE

Investment

TOTAL COST

$60M

NUMBER OF UNITS

219

Project Overview

Oakhouse is a 219-unit mixed-income ground-up multifamily development in the rapidly developing North Oak Cliff area of Dallas, TX. The project, being developed by a woman-owned firm, will leverage a property tax exemption through one of Dallas’s first-ever Public Facility Corporation structures and will include 50% Affordable Housing units restricted at rents affordable to households earning up to 80% of AMI. The remaining 50% of units will be at market rents. Construction is anticipated to begin in the fall of 2022 with completion slated for summer, 2024.

IFC Rendering 23.2.2

Impact

Affordability

Oakhouse will catalyze the production of new mixed-income housing in an increasingly expensive, emerging neighborhood by leveraging an accretive property tax exemption through a Public Facility Corporation (“PFC”) structure with 50% of the units set-aside at workforce rents affordable to households earning 80% of AMI. This restriction will ensure ongoing affordability in this neighborhood as it continues to transform and experience market rent growth.

Sustainability

Oakhouse will use energy efficient appliances to reduce energy consumption, reducing operating and utility expenses.

Diversity

The Project sponsor, Mintwood Development, is an emerging WBE sponsor. Mintwood is focused on delivering a residential community that is attuned to the daily quality of life needs of all residents, including families and women.

Further Reading

MSquared, Mintwood Real Estate, and Dallas City Officials Break Ground on Oakhouse

MSquared and Mintwood Real Estate Start Work on Dallas Mixed-Income Project

Oak Cliff Apartment Project Will Bring Affordable Units to Dallas

MSquared and Mintwood Begin Construction on Mixed-Income Community in Dallas

MSquared Breaks Ground on Oakhouse, The First Mixed-Income Project Financed Through Dallas’ PFC

MSquared Breaks Ground 219-Unit Mixed-Income Residential Project in Dallas

City of Dallas Breaks Ground on New Mixed-Income Development in Oak Cliff

Partners

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