DHA for North Texas and Volunteers of America National Services (VOANS) partnered on a new, affordable senior housing development in South Dallas. The Oaks a $50 million redevelopment project, expands the inventory of quality and affordable housing options for seniors. The development officially opened in November and is 95% occupied with five vacant units remaining.
Richard J. Monocchio, principal deputy assistant secretary of the U.S. Department of Housing and Urban Development joined Volunteers of America’s National President and CEO Mike King along with Volunteers of America Texas’ CEO Angela King and Betty Culbreath, board chair of DHA to officially open The Oaks.
The 260-unit housing community represents a new model of affordable and market-rate housing with 17 market-rate units, 113 low-income housing tax credit units, 103 project-based housing voucher units and 27 public housing units. Fifty percent of the development’s units (130 units) are subsidized and all are 60 percent tax credit units.
“We are thrilled to complete this successful co-development with VOANS,” said Tim Lott, vice president of Capital Programs at DHA. “Building the foundation from the ground up, we reimagined the vacant site with a vision to provide safe, comfortable housing for the community, specifically for a population in need of additional supportive resources.”
In addition to on-site features including a library and theater room, community garden, game room, craft room and more, the property will incorporate an on-site health clinic with valued partner Los Barrios Unidos Community Clinic (LBU), to provide residents and the surrounding community with access to comprehensive health care services. The property is professionally managed by Volunteers of America Texas.
“We are inspired by the outcome of the innovative partnership between VOANS and DHA,” said Mike King, national president and chief executive officer of VOA. “The community and residents of 260 new units of housing are the ultimate beneficiaries of this creative collaboration between the private and public sector.”
“This beautiful development provides a safe, comfortable home for the residents of this community, as well as access to necessary amenities,” stated Principal Deputy Assistant Secretary Richard J. Monocchio from the U.S. Department of Housing and Urban Development. “DHA, Housing Solutions for North Texas’ commitment to meeting the needs of their residents and community produces meaningful results exemplified by developments like The Oaks.”