511 N. Akard Affordable Housing Project Gets State Tax Credit

I am pleased to report that earlier today, the Texas Department of Housing and Community Affairs awarded a forward commitment of $12 million in low-income, housing tax credits to Central Dallas Community Development Corporation for the purchase and redevelopment of the property at 511 N. Akard in Downtown Dallas. Development of the project, tagged CityWalk@Akard, will begin before year’s end.

This project will provide 200 affordable housing units in Downtown Dallas, 50 of which will be set aside as single-room occupancy units (essentially efficiencies) for the formerly homeless. Importantly, this is a permanent housing solution for the homeless, not transitional housing.

I am deeply appreciative of how hard Central Dallas Ministries worked to ensure that this project would be a win-win for the homeless, those needing affordable housing, and current Downtown residents: Significant community input went into the project design, the number of units dedicated to the homeless was reduced, no homeless services will be provided on-site, and a security plan for the property must be approved by the City.

We desperately need affordable housing in Downtown, and we particularly need permanent housing for the homeless to get them back into productive society.

See more here.