Communities Foundation of Texas just announced its Strategic Housing Initiative, a landmark $50 million, five year commitment to strengthen Dallas neighborhoods and expand housing access across the city, its first ever housing-focused initiative as part of its overall mission to promote health, wealth, living and learning in our community.
The initiative aims to address the housing shortage that is pricing out thousands of residents and limiting economic growth. CFT’s plan will combine policy work, new housing production, and preservation of existing affordable units, while coordinating efforts across government, philanthropy, and the private sector.
Highlights include:
- Establishing HouseDTX, a new network of funders, advocates, and planners led by CFT, the Bush Institute, Habitat for Humanity, and others, to align citywide housing efforts and publish a housing scorecard next year.
- Creating the Dallas Community Land Trust with The Real Estate Council and JP Morgan Chase to promote long-term affordability and homeownership.
Launching a Housing Impact Fund that will deliver low-cost, recyclable capital to help developers build affordable homes faster and at scale. - Early investments totaling $4 million in projects ranging from modular home startups to community land trusts and container housing developments in South Dallas, a known high need area for housing solutions.
CFT President and CEO Wayne White describes this as “a bold, long-term effort to build economic mobility and shared prosperity” for the city. The foundation aims to leverage its $50 million to attract matching funds from other local partners and create a $100 million Housing Impact Fund.
Source: press release
