What We Know About Terrace at Southern Oaks

Details

Address

3300 Southern Oaks Blvd, Dallas, TX 75216

Units

300

Developer

LDG Development

About

The Terrace at Southern Oaks will offer 147 market-rate units and 153 units that will be reserved for families earning at or below 80 percent of the area median income, or $77,920 annually for a family of four. Monthly rental rates for the units are expected to range between $977-$2000. The community is intended to address the ongoing need for more housing across the city, and federal funding to support the development of more housing will continue to be a top priority.

The Terrace at Southern Oaks is being developed by LDG Development. The company is one of the country’s largest developers of affordable housing and has created more than 20,000 units across the country with over 2,000 units planned for the Dallas area over the next three years.

Timeline

Jun 16, 2022 - Our focus this week in District 4 is Affordable Living Opportunities, specifically the Dallas City Council approval of more than $7.9 million in federal funds for a planned affordable housing community — The Terrace at Southern Oaks Project.

The Terrace at Southern Oaks is estimated to take about 24 months to construct. This LDG development will include features such as a swimming pool, business and fitness center, and spacious floor plans. It also speaks highly of how the city of Dallas and the private sector can partner to create mixed-income housing.

The Terrace at Southern Oaks” was approved by the City of Dallas because historically we did not fund infrastructure and housing development plans in low-income areas. (Texas Metro News)

Jul 1, 2022 - The Dallas City Council recently approved more than $7.9 million in federal funds for a planned affordable housing community in District 4, but many still don’t feel enough is being done to break barriers that are keeping minorities from becoming homeowners.

The new community development will be an apartment complex of 300 units. The project is called The Terrace at Southern Oaks, and the first units are anticipated to be available as soon as fall 2023. Nonsubsidized rates will range from $900 up to approximately $2,000 a month. (Dallas News)