Mixed-income housing development and neighborhoods are considered one of the best ways to revitalize disinvested urban areas. Where poverty is concentrated, communities experience higher crime and less access to health services and basic resources. A 2013 study conducted by CityScape explored the hypothesized benefits of mixed-income housing and how it may alleviate economic segregation and increase property values. DCH would like to explore these findings and discuss them in the context of how to develop more sustainably in Dallas. 

How does affordable and attainable housing play into sustainability and equality in neighborhoods? DCH builds mixed-income developments that provide housing for a number of income levels and one of the questions we get asked the most and one of the things that can be most confusing is the concept of the AMI or Area Median Income. We will look at how it affects housing availability and eligibility, and provide answers to our FAQ, on AMI. 

Congratulations, here are the keys to your new home! Now, how do you maintain a home and a lifestyle that will build equity and add value to your home? There are so many guides to saving for a home, linked here, and applying for a home loan as a first time home buyer, linked here, but what happens when you get a home, how can you make sure it appreciates? Here are some practical maintenance tips, financial tips, and tips for becoming involved in your community to make sure your neighborhood thrives, to build value and equity for all. 

The Beckley Apartments and DCH Headquarters site is minutes away from the trendy Bishop Arts District. We acquired the space, 711 N. Beckley in 2004. This construction was built in 1959 and had 6 units in need of restoration. We say restoration because this building, like many in Dallas, had great bones. It was built of red brick and contained only one-bedroom and one-bath homes. This type of configuration is antiquated in that it does not use space in the ways that we use it today, but there was an opportunity and DCH saw this. 

Is owning a home a dream? For many, home owning is a dream that seems like it will never become a reality. According to a recent survey by Intuit, it takes an estimated 51 months, or 4.25 years, for an average American household to save the recommended 20 percent down payment. The average home down payment is $54,145 for a single family home. This of course only tells a fraction of the story since housing costs, income, and living costs vary so wildly from metropolis to metropolis. 

DCH has the capability to turn underperforming properties into new homes and future homes (and headquarters) of small businesses in the Southern Dallas area. We follow adaptive reuse principles, where possible, and partner with community leaders and businesses to make neighborhoods more diverse and equitable. One way we want to help support our communities is to offer guidance and resources to help fulfill small business dreams. Owning a small business is a dream for many, and there are a number of resources in Dallas and Federally, that help make these dreams a reality. Here are just some of the available local grants, businesses, agencies, and entities that offer guidance, mentorship, and funds to build small businesses in our community. 

Last week, we discussed the importance of a business plan and knowing your audience and market. This week, we are going deeper into business planning and funding. A business plan will be necessary for funding. You need to know how much you need for operating, for a given time, and which loans you could qualify for. This week we are not discussing grants, but will be offering specific Dallas funding and grants, next week. These are the steps to apply for a traditional small business loan. We have compiled more resources on plans from the US Small Business Administration below. 

As we wind down this year, there are some rituals that we like to do as a business to start the new year. Of course we do our finances and hang Christmas decorations, but we also like to look at lessons we have learned and sit in the bigness of gratitude we have for our community.