DALLAS — Onyx Legacy Group and Lincoln Avenue Communities are underway on plans for the development of a new affordable seniors housing community in Dallas.
The Texas Bond Review Board has issued a $38 million bond reservation to the Dallas Housing Finance Corp. in support of the project, and the City of Dallas has issued an early release letter, which allows initial grading and site mobilization activities to begin.
Upon completion, the property will total 229 units, with 15 percent of residences reserved for seniors earning at or below 50 percent of the area median income (AMI) and 75 percent of residences reserved for seniors earning at or below 60 percent of the AMI. The remaining units will be rented at market rate.
Amenities at the community will include a community room, fitness center, pool, dog park and outdoor gathering areas.
Completion of the development is scheduled for 2027.