09 July 2010

City Celebrates Two New Housing Projects in Dallas

Dallas-Fort Worth News

DALLAS — District 11 Councilmember Linda Koop recently joined other elected officials and dignitaries to celebrate completion of the Willow Falls Townhomes, 13890 Brookgreen Drive. The 319 unit development of medium priced homes on 46 acres is a housing leader in the North Dallas High Five Corridor.

“The entire project cost $7.5 million, which was a big reinvestment boost for the community,” said Koop. A fundamental part of the revitalization project was a focus on crime prevention, Koop said, which included formation of a citizen’s patrol to work with law enforcement. As a result, crime has dropped significantly.

Funding was obtained through Community Banc of Arizona and paid for by the homeowners association through an HOA fee increase and no special assefee adjustment with no special assessment.

Each year since in the mid 1980s, residents have organized an appreciation luncheon for police officers and firefighters in their community. The event has grown over the years to include city, county, and state officials as well as local merchants and school principals.

In addition to a more updated and appealing structure, the revitalization has changed resident’s attitudes. Brett Ferguson, a resident who served as financial treasurer and construction chairman, said, “the otherwise busy owners have turned into friendly neighbors where they view the neighborhood not as a place to live but where they do their living.”

Another Dalls apartments project adjacent to Willow Falls is gaining praise too. Built in 1968, the former Woodside Terrace apartment complex has been in poor condition for years. In February, Knightvest Capital acquired the property which is now called Las Terrazas. Over the past several months, a $1.1 million renovation project has been underway at the 230 unit complex and is nearly complete. Renovations include upgraded interior units, a remodeled pool, exterior paint, new playground, exterior lighting, and new security gates.

“The complex has gone from 57% occupancy to over 80% since the renovation and we have experienced a decline in criminal activity,” said KC Kronbach with Knightvest Capital. “Our goal with this project was to take the worst property in the submarket and make it a safe, clean and inviting place for residents to call home.”

“This property was nearly uninhabitable and on the watch list with the City Attorney’s Office,” said Koop. “These revitalization projects will go a long way to bring economic vibrancy back to this area.”

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