Saigebrook Development, LLC is working alongside O-SDA Industries, LLC to build a $25 million Kiva East community in Dallas, Texas. The developers recently hosted a groundbreaking ceremony for the mixed-use project, with Mayor Eric Johnson and other city leaders in attendance. In addition to creating 87 units of high quality affordable and market-rate housing, the project also features a Bezos Academy.
At the groundbreaking, Mayor Johnson welcomed the Kiva East project, which he said would provide more housing options in Dallas. The mayor said there was no doubt that Dallas was currently the place to be. Especially since, businesses were trooping down there, along with young people, who want to start their lives or careers. Therefore, he said more housing needs to be created in the city to manage all that growth.
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Development plans for the Kiva East project
The Kiva East community project is taking place at 4724 Eastside Ave and its delivery date is set for December 2023. The project features a mix of one to three-bedroom units, as well as community amenities. Several such shared amenities include a clubhouse, fitness center, play area, and business center.
About 70% of the multi-family development will be reserved for families earning between 30% and 60% of the city’s AMI. While the remaining 30% of units will be set at a market rate standard. Additionally, the project’s location also provides direct access to the pedestrian and bicycle Santa Fe Trail. This would connect residents to other parts of East Dallas and downtown.
Kyle Hines, an assistant director for Dallas’ Department of Housing and Neighborhood Revitalization, also spoke in favor of the project. Hines said Kiva East would serve even a single-family resident earning just over $20,000, alongside market-rate residents. Besides the residential units, the property also features a Montessori-style preschool with a 10-year lease agreement. This school will provide tuition-free, year-round education to up to 40 students.
The project has received financial support from the Housing and Urban Development (HUD) in the form of HOME Investment Partnerships Funds. This funding was worth about $2.48 million. Additionally, the city’s Department of Housing also awarded HOME grants under the Neighborhood Revitalization’s Notice of Funding Availability (NOFA). These grants were intended to support citywide mixed-income development and increase affordability over a 20-year period.
