ForwardDallas 2.0 DFW Multifamily landscape, Innovative Affordable Housing Comes to Rocky Hill

🗞️ In This Edition - Multi-Family

• Innovative affordable housing comes to Rocky Hill

• ForwardDallas 2.0

• Industry leaders speak out

• A new frontier for rental properties

• and more

📈 Market Numbers

Numbers as of July 23 2024 closing

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🔍 Spotlight

Innovative Affordable Housing Comes to Rocky Hill

• Townhouse-Style Living Reimagined: Rocamora Acquisitions is breaking the mold with their proposal for a 25-unit complex featuring two-bedroom, two-story townhouses. This departure from traditional one-bedroom, single-story apartments offers a spacious 1,835 sq ft per unit for the 80% AMI apartments, catering to diverse household needs.

• Affordable Living, By the Numbers:

  • 8 out of 25 units (32%) will have long-term rent restrictions

  • 4 units affordable for families earning up to 80% of median income ($87,696 for a family of three)

    • Rent capped at $1,835/month

  • 4 units affordable for families earning up to 60% of median income ($65,772 for a family of three)

    • Rent capped at $1,494/month

  • These restrictions will remain in place for 40 years, ensuring long-term affordability

  

• Strategic Location and Smart Design:

  • Address: 1093 New Britain Avenue, corner of Cobey Road

  • Site size: Nearly 4 acres

  • Parking: 40 spaces, including 3 handicapped-accessible spots

  • Building layout: 3 buildings (6 units, 8 units, and 11 units)

  • Thoughtful touches: Dedicated space for deliveries and resident pickup/drop-off

• Boosting Rocky Hill's Housing Goals:

  • Current affordable housing in Rocky Hill: 4.6%

  • State guideline: 10% minimum

  • The Residences at 1093 will help bridge this gap, contributing to the town's long-term development plan

  • Developed by Gaetan "Guy" Rocamora, with 35+ years of experience and a portfolio of about 80 diverse housing units

This project, proposed under Connecticut's 8-30g law, represents a significant step towards meeting Rocky Hill's evolving housing needs.

ForwardDallas 2.0: The Great Housing Debate

As Dallas prepares to update its comprehensive land use plan, "ForwardDallas 2.0," the city finds itself at a crossroads. This plan, set for a public hearing, has ignited a passionate debate about the future of housing in our city. Let's examine the key points from both sides:

The Case for Increased Density

• Affordability Crisis: With the median home price in Dallas skyrocketing (e.g., a $65,000 home in 1980 now valued at $528,000), advocates argue that increasing housing supply through densification is crucial for affordability.

• Diverse Housing Options: Proponents suggest that mixing housing types can create more inclusive neighborhoods and provide options for various income levels and life stages.

• Efficient Land Use: In a landlocked city, increasing density could maximize the use of available land and potentially reduce urban sprawl.