A $100 Million Bet on Affordable Housing in Dallas
Affordable Housing in Dallas
Why This Matters for Dallas
- For Community Leaders: A coordinated regional approach to fragmented housing efforts
- For Policy Makers: Comprehensive framework addressing policy, production, and preservation
- For Developers: Access to capital and innovative construction approaches that reduce costs
- For Workers: Focus on "missing middle" and workforce housing for those earning 50-80% AMI
- For Dallas' Future: Addressing a projected 76,000 unit shortfall by 2035
Communities Foundation of Texas has committed $50 million over five years to a strategic initiative directed at affordable housing, with plans to raise an additional $50 million. The announcement came during a Thursday launch event featuring Dallas City Manager Kimberly Bizor Tolbert, CFT Chair Connie Blass O'Neill, Housing Strategy Committee Chair Debra Brennan Tagg, and CFT Chief Strategy and Insights Officer.
The Scale of the Challenge
- Dallas faces a potential shortfall of 76,000 affordable housing units by 2035
- Median home values in D-FW hit $389,500
- Nearly 43% of renters spend 35% or more of their income on housing
- 75% of single parents with kids are housing cost-burdened
Three Pillars of Action
1. Policy Formation: The "HouseDTX" initiative will focus on advancing housing policy and practices. With leadership from the Bush Institute, Habitat for Humanity, the Dallas Housing Coalition, and the Greater Dallas Planning Council, plans include releasing a housing scorecard next year.
2. Housing Production: The production pillar will be supported by a $100 million housing impact fund, designed to help developers build more supply—particularly workforce and "missing middle" housing. The intent is to identify innovative construction approaches that reduce costs without sacrificing quality.
3. Preservation of Affordability: Protecting existing affordable units while creating new supply, ensuring families can stay in their communities.
"What we heard from experts is that this community doesn't need CFT to create its own community development financial institution or community development corporation. We have organizations and initiatives across multiple segments of housing, but what we need is for this organization to address the issue of fragmentation—to take the lead in coordinating and aligning efforts, building a bigger platform for community-driven impact."
First Year Progress
Over the past few months, CFT has granted more than $4 million as part of the initiative. Funding includes:
- $500,000 to the Local Initiatives Support Corp.
- $250,000 grant to bcWORKSHOP for modular construction to reduce costs and build homes faster
- Launch of a funder's collective inviting philanthropy, banks, and city officials to help mission-driven developers access capital
- Advisory group led by Bryan Tony of the Dallas Housing Coalition
Strategic Partners
The partnership brings together key organizations across sectors:
- City of Dallas
- Dallas Community Land Trust
- Dallas EDC
- George W. Bush Institute at SMU's Economic Growth Initiative
- Downtown Dallas Inc.
- Greater Dallas Planning Council
- Dallas Housing Coalition
- Habitat for Humanity
- Key builders and developers
The initiative aligns with the city of Dallas' broader housing goal of developing and preserving over 7,000 rentals and 3,500 homeownership units annually.
"75% of single parents with kids are housing cost-burdened. They're making really difficult trade-offs—preventative health care appointments, nutritious food, educational experiences for their kids—simply to keep a roof over their heads." — Ashley Flores, Chief of Housing, Child Poverty Action Lab
Get Involved
This historic investment needs community support. Learn how you can contribute to solving Dallas' affordable housing crisis.
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