April 17, 2015

Stacked NDC Academy LogoCongratulations to The City of Dallas, City Wide Community Development Corporation (CWCDC) and Urban Lancaster Community Development Corporation (ULCDC) on being selected as a semi-finalist in the Creative Finance Category for the NDC Academy Awards 2015. The NDC Academy Awards Semi-Finalists represent some of the most innovative and impactful developments changing the lives for residents in underserved communities across the country, NDC is honored to highlight the achievements of these organizations at the NDC Academy 2015.

Lancaster Urban Village – Dallas, TX

Lancaster Urban Village (LUV) development is a transit oriented development (TOD) with mixed-income multifamily housing units that will serve the needs of persons newly employed in the area as well as those currently employed in the area and with mixed-use retail. The project includes activities that increase economic opportunity principally for low- and moderate-income persons by creating permanent jobs and providing affordable housing accessible to both existing and planned jobs in the project area. LUV is located across the street from the Veteran’s Administration (VA) Medical Center, the second largest system in the country, which serves over 113,000 veterans a year, with over one million outpatient episodes per year, and employs some 4,700 people.  The hospital also serves as a major research center and teaching facility.  LUV also provides transportation connections via the Dallas Area Rapid Transit Blue Line light rail station at the VA stop.

The Lancaster Urban Village development is the first of four development projects planned for the City of Dallas Neighborhood Investment Program (NIP) Lancaster Corridor Target Area.  The commercial portion of the Lancaster Urban Village development delivers 13,926 square feet of retail, restaurant, small office and commercial space and a 405-space parking garage to the NIP

Lancaster Corridor area, which generates permanent jobs and goods and services for the area. The housing component of the project provides 193 mixed-income, multi-family rental units with 51.8% (100 units) of the units rent-restricted for 15 years for affordability to low- to moderate-income persons.

LUV increases economic opportunity principally for low- and moderate-income persons, creates permanent jobs, and provides affordable housing accessible to both existing and planned jobs, and creates retail, restaurant, small office and commercial space that provide goods and services to the surrounding community. The commercial aspects of the project meet the national objective of benefiting low- and moderate-income persons by providing job creation through commercial development that will create employment opportunities in which a minimum of 72 permanent full-time equivalent jobs will be created for low- and moderate-income persons.  These jobs will be held by individuals with incomes at 80% or less of the Dallas area median family income (AMFI) established by the Department of Housing and Urban Development (HUD).  In addition to providing permanent full-time jobs, any community-serving businesses generated by the project will also provide goods and services to the 11,369 low- and moderate-income residents in the NIP Lancaster Corridor area. The potential is great for Lancaster Urban Village to spur economic growth in the region. The development’s close proximity to the VA Medical Center will appeal to the housing needs of the hospital’s employees.  And its new commercial space and retail will be a draw for the more than 30,000 annual visitors to the hospital area.

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