Three phase mixed used development to bring more affordable and market rate housing to the growing southern sector of Dallas
LOUISVILLE, KY, UNITED STATES, December 14, 2020 /EINPresswire.com/ — Construction will soon begin on a mixed income development in south Dallas after receiving the final zoning change approval from the Dallas City Council. Located minutes from downtown, The Ridge at Lancaster will be the first phase of a three-phase master planned development that spans approximately 63 acres. Once complete, The Ridge at Lancaster will provide a variety of affordable and market rate housing.
“When you consider the numerous employment centers located in and near this area, we know that there are thousands of residents who would benefit from and welcome the opportunity to have access to high quality housing within the same community that they work, shop and worship,” Councilman Tennell Atkins, who represents District 8. “The Ridge at Lancaster will help many families achieve this goal and will spur additional growth throughout southern Dallas.”
The Ridge at Lancaster will be located at 5703 S. Lancaster Rd. Phase I of the development will provide 300 units with 270 income restricted units and the remaining 30 units available at market rate. The development will offer of 1, 2, 3-and 4 bedroom apartment homes that offer a number of features and amenities often found in market rate communities. This includes spacious floor plans, granite countertops, stainless steel appliances, a fitness center and swimming pool. Residents can also enjoy quick access from public transportation given the site is located less than a ½ mile from the Camp Wisdom DART Light Rail Station and the new Singing Hills Recreation Center.
The affordable units will be reserved for families earning up to 60 percent of the area median income or $51,720 annually for a family of four.
“As the City of Dallas continues to grow, identifying ways to address the lack of affordable housing options throughout our community continues to be a challenge,” said City Council member Chad West who supported Council’s decision to approve this development. “The approval of The Ridge at Lancaster is a win for the City of Dallas. This mixed income development will provide much needed housing for our workforce that is close to public transit and close to jobs. We need more developments like this across the city.”
Construction on Phase I The Ridge at Lancaster is expected to begin in March 2021 and be completed by the first quarter 2023. Phase II will provide approximately 250 units of townhomes and Phase III will provide approximately 250,000 square feet of commercial and retail space. Construction on Phases II and III are expected to begin in 2022.
The Ridge of Lancaster is being developed by LDG Development—the country’s largest developer of affordable housing with more than 7,500 units of senior and family housing across Texas and 15,000 units across the country.
Chris Dischinger, co-principal and co-founder of LDG, says that given the continued economic growth the City of Dallas consistently experiences, and the need for high-quality housing that results from strong economic growth, expanding LDG’s presence within Dallas makes sense.
“Like other communities that enjoy strong economic growth, the city of Dallas understands the availability of a variety of housing options that meets the needs of a diverse workforce is a key part of any successful economic development strategy,” said Dischinger. “The collaboration with the City throughout the planning process and the support by Councilmembers Atkins and West ensures that The Ridge at Lancaster will be a development that reflects and serves the needs of this community.”
Site preparation for Phase I is currently underway. The Ridge at Lancaster expects to welcome its first resident in 2022.