Officials join to break ground on phase one of Dallas’s newest affordable housing community
Development will produce hundreds of units of quality housing for families earning up to $53,400 annually.
Elected and city officials joined with representatives from LDG Development to break ground on The Ridge at Lancaster—a 300-unit apartment community that will provide high quality housing for families living and working in south Dallas and will help to address the need for more housing options that has resulted from the on-going tremendous growth taking place across the area. Located minutes from downtown Dallas, The Ridge at Lancaster is the first phase of a three-phase master planned development that will span approximately 94 acres and will include market rate and affordable housing that will offer a variety of onsite amenities including 250,000 square feet of commercial and retail space.
“Communities across the country are struggling to keep up with the growing demand for new housing that is located in close proximity to retail and commercial amenities that families and individuals frequent on a daily basis,” said Chris Dischinger, co-founder, and co-principal of LDG Development. “This development reflects that demand, while recognizing that any long- term success of an area has to include an influx of diverse housing options.”
Located at 2101 Crouch Road, The Ridge at Lancaster will with provide 1-, 2-, 3- and 4- bedroom apartment homes. 270 of the units are reserved for families earning up to 60 percent of the area median income, while the remaining 30 units will be available at market rate pricing. The property will offer several upgraded features including spacious floor plans with upgraded flooring and granite countertops; fitness and business centers; and a large swimming pool. Residents can also enjoy quick access to public transportation given the site is located less than a 1⁄2 mile from the Camp Wisdom DART Light Rail Station and the new Singing Hills Recreation Center.
Councilman Tennell Atkins who represents the area and played a key role in bringing this development forward believes that the addition of this mixed income development will lead to other investments in the neighborhood and surrounding area.“The city of Dallas is excited to break ground on the Ridge of Lancaster. The first phase is a $75 million investment into District 8 that will provide high-quality workforce housing for our residents,” said Atkins. The second and third phases of this mixed-income development will provide additional housing options for our residents in the form of market-rate townhomes as well as much needed commercial/retail space. This total development cost is estimated to be $210 million and will serve as economic development catalyst leading to additional investment in the community.”
Plans for the remaining phases of this development are currently in design. This will include 250 units of townhomes and the commercial and retail spaces. Construction on the remaining phases of this development is expected to begin July 2022. Kyle Hines, Assistant Director in the Department of Housing and Neighborhood Revitalization, says that The Ridge at Lancaster is an example of housing the public and private sectors can join to meet the ever-changing needs of a community.“Our goal is to partner with the private development community to target affordable and workforce housing development near other City investment and amenities: The Ridge at Lancaster checks those boxes. In this area alone we have the Camp Wisdom DART Rail Station, the new Singing Hills Recreation Center, UNT-Dallas, DPD-South Central Station, and easy access to 1,000’s of jobs from the ongoing development of our Inland Port.”
The Ridge at Lancaster is being developed by LDG Development—the country’s largest developer of affordable housing with more than 20,000 units across the country, including 7,500 in Texas. The Dallas Housing Finance Corporation issued $50 million in private activity bonds to fund the project and will own the project in partnership with LDG. Additional funding for this project is being provided by Red Stone and Enterprise Community Partners. Once complete, The Ridge at Lancaster will be LDG’s first property in the City of Dallas.
Jake Brown, development manager for LDG Development who oversees the company’s efforts in the Dallas market, says that given the continued economic growth the City of Dallas has consistently experienced over the past several years, he expects the company to make additional investments in the area.
“As I worked with elected and city officials to finalize plans for The Ridge at Lancaster, it was clear that the leadership in this community are committed to ensuring Dallas remains a city that is committed addressing and meet the needs of all families and individuals who call Dallas home,” said Brown. “LDG shares this commitment and will support the Dallas community as it works to provide greater access to quality housing.”