(Balch Springs, TX—) Mayor Steven Gorwood and City Manager Susan Cluse joined with officials from LDG Development to break ground on the city’s newest affordable housing—The Springs. Once complete, the development will offer more than 220 apartment homes 1,2 and 3- bedroom energy efficient units and a host of amenities to it residents and families.
“Like many cities throughout Texas, providing more affordable housing options is key to many of the long and short term economic development goals we have for our city,” said Steven Gorwood, Mayor for the City of Balch Springs. “The addition of this new apartment complex represents a strong start to our ongoing focus on ensuring all within our city have access to high quality housing that they can be proud to call home.”
Conveniently located off of 635 and Ambassador Way, The Springs is a $38 million community that will include a swimming pool, club house, a business center and other amenities. Sizes of the units will span from 600 – 1,185 square feet and the rents will range from $707-$1,132 per month. Units are reserved for families who earn up to 60 percent of the area median income, or $31,800 annually for a family of four.
“Texas has long been recognized as a leader in finding solutions to address the affordable housing shortage because local, state and city leaders share a commitment to addressing the housing shortage many Texans are facing, “said Mark Lechner, co-founder and owner of LDG. “Many of the lessons and insights we’ve gained from working in this state have allowed us to successfully expand into other markets that are working to address similar challenges.”
The Springs is being developed in partnership with LDG Development. LDG was recently named the country’s top affordable housing developer and has more than 15 communities across the state. In fact, since 2000, the company has developed over 8,000 affordable housing units in cities across the country. According to Lechner, partnering with the City of Balch Springs was an easy decision.
“LDG was founded on the guiding principle that everyone deserves a quality place to live,” said Lechner. “It is clear that the City of Balch Springs and local leaders share this philosophy and we are committed to working with them to advancing and supporting the vision they have for this community.”
City Manager Susan Cluse believes the addition of The Springs will spur other investment into the area.
“The halo affect The Springs will have is undeniable and I am confident that it will attract other investments and the continued revitalization within our city,” said Cluse. “This project helps to remind all of us of the progress that can be made when we commit ourselves to achieving a goal.”
Construction on The Springs is expected to be completed by Spring 2019.