New affordable housing community brings high-quality housing to growing southeast Dallas
Meadowbrook to provide 180 apartment homes for families earning up to $53,400
(Dallas, TX—) Local leaders joined with officials from one of the nation’s largest developers—LDG Development—to celebrate the start of construction on the area’s newest affordable housing development—Meadowbrook. This 180-unit development will provide 1 -,2-, 3- and 4-bedroom units and is reserved for families earning up to 60 percent of the area median income, or approximately $53,000 for a family of four.
“The addition of Meadowbrook not only reflects the tremendous growth taking place in Dallas but also recognition that diverse housing options have to be included in any successful long term economic development strategy,” said Chris Dischinger, co-founder and co-principal of LDG Development. “We are honored that the city of Dallas continues to trust LDG to provide quality housing Dallas families are proud to call home.”
Located at 910 S. Belt Line Road, Meadowbrook is situated on a 9.6-acre site in southeast Dallas. The development will offer several upgraded features including spacious floor plans with [wood look] flooring, large walk-in closets; fitness and business centers; and a large swimming pool.
Councilman Tennell Atkins who represents the area and was instrumental in bringing the development of Meadowbrook to fruition believes that the addition of this community will help attract more investments into the area.
“The addition of Meadowbrook supports our goal of bringing more high-quality housing to this corridor of our community,” said Atkins. “I am thrilled to have played a leadership role in bringing Meadowbrook to the area and look forward to supporting the additional investments this development will help to attract to southeast Dallas.”
Financing for this $45 million development is being provided through the Low-Income Housing Tax Credit (LIHTC) program and tax-exempt bonds issued by the Texas Department of Housing and Community Affairs (TDHCA). Meadowbrook is LDG’s development’s second development in the City of Dallas and the company’s 45th in Texas.
Teresa Morales, Director of Multifamily Bonds at TDHCA—the state agency responsible for supporting the development of affordable housing—says that ensuring affordable housing is available in all parts of the state is essential to Texas’s continued growth.
“Texas continues to be one of the fastest growing states in the U.S. and the demand for affordable housing has never been greater,” said Morales. TDHCA is proud to be a part of the solution to meet those demands, helping to put over 16,000 affordable units on the ground in 2021.”
Monthly rental rates at Meadowbrook will range between $938-$1,670 and LDG hopes to welcome its first resident in January 2023.
Jake Brown, Development Manager for LDG Development who oversees the company’s efforts in the Dallas market, says that city leaders’ commitment to ensuring working families have access to high quality housing has been essential to LDG’s expansion within the City of Dallas.
“It is clear that the leadership of this city understands the important role housing plays in supporting an area’s continued growth,” said Brown. “LDG is proud of the partnership we have been able to establish with the leaders of this community and the trust they have in our organization to build developments Dallas families are proud to call home.”