On Dec. 6, city leaders and partners held a groundbreaking ceremony for Kiva East, an 87-unit mixed-income community that is set to include an early childhood education center from the Bezos Academy.
“There's no doubt that Dallas is the place to be right now... that's because our city is stronger than it's ever been,” said Dallas Mayor Eric Johnson at the groundbreaking ceremony. “Businesses want to be here, families want to be here and young people want to move here to start their lives and their careers. All that growth, however, means that we have to work together to bring even more housing to the city.”
Located at 4724 Eastside Ave., the multi-family development will offer 70% of its units at rates affordable to those making between 30% and 60% of the area’s median income and offer the remaining 30% of units at market rate. Expected to open in December 2023, Kiva East will feature units ranging from one bedroom to three, in addition to community amenities like a clubhouse, fitness center, play area and business center.
“We'll be able to serve a single family resident that earns just over $20,000, all the way up to market rate,” said Kyle Hines, assistant director of Dallas’ Department of Housing and Neighborhood Revitalization, at the groundbreaking.
He added that there is a need for affordable housing in all parts of the city.
Kiva East–which is being developed by Saigebrook Development, LLC and O-SDA Industries, LLC–will also feature a Bezos Academy. With a 10-year lease agreement, the Montessori-style preschool will provide tuition-free, year-round education to up to 40 students.
The $25 million project is the first investment from the Dallas Housing Opportunity Fund, which was created last year to bolster affordable housing and economic development efforts. The fund provided $3.4 million to Kiva East. In addition to other public-private investments, the development also received $2.48 million in financing from the U.S. Department of Housing and Urban Development’s HOME Investment Partnerships Fund.
“(Kiva East is) going to help us bring new life to this wonderful neighborhood,” Johnson said. “It's going to provide us with even more new options for our families who are moving here and who are part of our workforce, and it's going to be done in a way that's going to make it affordable for them.”
