DALLAS — Juliette Fowler Communities (JFC) has announced plans to construct a 144-unit independent living community, the Juliette Fowler Residences, for limited-to-moderate-wealth seniors in East Dallas.
A groundbreaking for the $24 million development at the 25-acre site is planned for early 2021, with move-ins scheduled to begin in May 2022. JFC was awarded tax credit financing through The Texas Department of Housing and Community Affairs’ (TDHCA) competitive tax credit process.
A 2019 study by the National Investment Center for Seniors Housing & Care (NIC) shows that 54 percent of middle-income seniors could need housing and care by 2029.
“We couldn’t be more excited that our ‘field of dreams’ is now becoming a reality to help meet the tremendous need for housing faced by the ‘forgotten middle’ seniors in our community,” says Nicole Gann, president and CEO of Juliette Fowler Communities. “This severe lack of affordable housing with supportive services is a national problem, and part of our goal with this new development is to bring this serious issue to light by educating our community, supporters and funders that this is a looming crisis.”
The three-story apartment building will offer floorplans from studio to a two-bedroom, ranging from 555 to 950 square feet, for seniors ages 62 and up.
The remainder of the funding will come through a combination of traditional financing and donor support.