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.
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.
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
