City of Balch Springs joins with national developer to celebrate the opening of The opening of 3 Springs and Forestwood brings more than 440 units of affordable housing to growing Balch Springs
(Balch Springs, Texas—) Balch Springs Mayor Carrie Gordon along with City Manager, Susan Cluse joined with other city leaders and officials from LDG Development to celebrate the opening of two of Balch Springs’ newest affordable housing communities—3 Springs and Forestwood. With these openings, 441 units of needed high quality affordable housing are available to many families living within the growing Balch Springs community.
“The steady growth Balch Springs has experienced over the past few years reflects increased recognition that our community has so much to offer,” said Mayor Gordon. “Whether it is access to first rate schools that are helping to produce our leaders of tomorrow; or the experienced and educated workforce every company needs to support its long- and short-term growth, Balch Springs has a lot of offer. The addition of these properties to our community only enhances those.”
3 Springs is situated on a 12- acre site located along the I-635 corridor and has 221 units of 1, 2 and 3-bedroom apartment homes. Forestwood is located on an 18-acre site that houses 220 units. Both communities offer a few onsite amenities for residents including a swimming pool, fitness and business centers large playgrounds and picnic areas and a club house that includes a variety of meeting spaces. Monthly rental rates at 3 Springs range between $795-$1096 while rates at Forestwood range between $869-$1204. Interest from potential residents at both sites has remained high as 3 Springs is 75 percent leased and Forestwood is almost 90 percent leased. Balch Springs City Manager, Susan Cluse, says that the brisk leasing activity at both sites reflect the need for more affordable housing options in the area.
“Our city’s investment in affordable housing is really an investment in the hard-working families who call Balch Springs home, as well as the business community that benefit from having easy access to potential employees and customers,” said Cluse. “At the end of the day, the addition of 3 Springs and Forestwood provides our entire community with a win.”
3 Springs and Forestwood were developed by Louisville, Kentucky based LDG Development. LDG is the country’s largest developer of affordable housing with more than 15,000 units, including almost 7,300 units in Texas. Mark Lechner, co-founder, 2and co-principal of LDG Development, believes the addition 3 Springs and Forestwood to the company’s growing portfolio reflects the organization’s guiding philosophy.
“LDG was founded more than 25 years ago based on me and my business partner’s shared belief that everyone deserves a quality place to live,” said Lechner. “Through the commitment of our employees and great city leaders like those found in Balch Springs, we’ve helped thousands of families secure the type of housing needed to change the trajectory of a family’s life.
The ribbon cutting for 3 Springs will be held Wednesday, November 11th @ 1:30 p.m. at the company’s clubhouse—4520 Ambassador Way. The ribbon cutting for Forestwood will be held on Thursday, November 12th @ 11:00 a.m. Both events are open to the public and will adhere to all local COVID-19 guidance and requirements.