Rental Market
Dallas Development Services issued 33 permits for new multifamily construction in July, representing an economic impact of about $76 million. Although significantly less than the 65 multifamily permits issued in July 2022, it appears the housing business remains steady. The latest apartment complex being heralded is LDG Development’s 615-unit Park at Northpoint. On another note,…
Dallas is facing a shortage of about 33,660 affordable homes, according to a study published recently by the Child Poverty Action Lab. Ashley Flores, senior director of the nonprofit CPAL, reviewed the findings Thursday night in a conference call with members of the activist group Dallas Neighbors for Housing. Flores worked for about six months…
A new luxury build-to-rent community with 343 units is coming to the Collin County town of Melissa. Welker Properties announced the $95 million Wolf Creek Farms development that will bring 343 luxury, Class-A rental units to a 32-acre tract between US-75 and the Sam Rayburn Tollway. The new development shows how Welker Properties is doubling…
In the last several months, we’ve seen a two-fold increase in mortgage rates. As the Federal Reserve raises benchmark interest to mitigate inflation, the costs associated with homeownership have risen significantly. While many builders, developers, and brokers are finding it difficult to navigate this changing climate, others are taking advantage of the shift with build-to-rent…
In 2022, the rent was too damn high. It’s almost become standard operating procedure for Dallas’ workforce to not be able to afford rent or a mortgage. Even affordable housing isn’t particularly affordable — and there’s not enough of it to meet the growing needs of the Dallas area. The national rent index showed the…
