Local officials celebrate the opening of a $40 million affordable housing complex in Fort Worth Texas
(Fort Worth, Texas—) Officials from Fort Worth Housing Solutions and LDG Development gathered to celebrate the opening of Stallion Pointe—a 264-unit, 1,2 and 3-bedroom apartment home community for families within the Fort Worth area. Stallion Pointe welcomed its first resident in December and as of April 1st the development is over 66 percent leased and 46 percent occupied. “Stallion Pointe is LDG’s 17th development in Texas and reflects our company’s guiding philosophy that everyone deserves a quality place to live,” said Chris Dischinger, co-owner of LDG Development. “The collaboration and commitment shown to getting this project to the marketplace demonstrates the urgency local leaders have to providing this community with high quality, affordable housing options.” Conveniently located on Race Street near the city of Everman, Stallion Pointe is a $40 million community developed in partnership with Fort Worth Housing Solutions. Residents of the property enjoy energy efficient apartment homes that offer a variety of amenities, including stainless steel appliances, access to fitness and business centers, a clubhouse and a pool. Monthly rents at the development range between $710 and$1,200. “We are particularly pleased that Stallion Pointe features 15 RAD (Rental Assistance Demonstration) units,” said Mary-Margaret Lemons, president of Fort Worth Housing Solutions. “Through RAD, the U.S. Department of Housing and Urban Development (HUD) is allowing us to convert our entire public housing portfolio by including a small portion of RAD units in mixed-income properties like Stallion Pointe. This is giving us an unparalleled opportunity to deconcentrate poverty and improve families’ lives.
Stallion Point is primarily reserved for families making 60 percent of the area’s median income, or $42,840 for a family of four. The complex also has 25 units available at the standard market rate. Dishinger says this blended housing model is becoming increasingly popular as more communities look for innovative ways to address an overall housing shortage.
“While we are primarily focused on developing affordable housing for families and seniors, we are committed to working with local leaders to develop projects that meet the needs of the community. In many cases, this requires including affordable and market rate housing in our projects,” said Dischinger. “Because we view each property as a long-term investment into the community, we understand the importance of working with local leaders to make sure we develop properties that support local goals and needs of a city and that residents are proud to call home.”
About LDG Development
LDG Development is an award-winning multi-family housing developer and owner whose passion for affordable housing is evident in the gold-star quality of their apartment homes. The company has developed over 8,000 units in Kentucky, Indiana, Virginia, Kansas, Tennessee, Texas and Louisiana and was recently named the country’s #1 developer of affordable housing. The addition of Sansom Pointe and Sansom Ridge brings the total number of properties the company has in Texas to seventeen.
LDG’s mission is to provide hard-working families and active seniors a community where they can thrive. The company is headquartered in Louisville, Kentucky and is motivated by the belief that everyone deserves a quality place to live.