An experiment using $6 million in taxpayer money to attract private investment and philanthropic contributions for affordable housing is showing some real scale in Dallas.
The Dallas Housing Opportunity Fund has supported the construction of 858 affordable multifamily units across 10 investments since its launch in 2022, according to a new three-year impact report by LISC Fund Management. The fund invested $39.8 million into projects representing $248.3 million in total development costs.
Boosters already declared the fund “wildly successful” last year after its first eight deals. At that point, it had supported 553 units, including 200 targeted toward households earning between 30% and 50% of area median income…