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area median income
Lauren Seaver, president of Opportunity Housing Group. [Photo: OHG]
The Last Word: OHG’s Lauren Seaver on City of Dallas Acquiring Briscoe Apartments for $82M for Mixed-Income Housing
by Dallas Innovates | Staff Report | Dec 19, 2022
The city of Dallas announced last week that it has spent $82 million through the Dallas Housing Finance Corporation to acquire The Briscoe, a 322-unit class-A multifamily property at 12639 Coit Road in North Dallas. The Briscoe was previously charging tenants full market-rate rents. Now it will reserve 161 units for residents earning at or below 80% of the area median income.
Current residents who qualify will see their rents reduced at their next lease renewal, saving an average of $222 a month, or $2,659 a year.
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