November 2021

McDowell Housing Partners Celebrates Lakeview Preserve Groundbreaking

McDowell Housing Partners Celebrates Lakeview Preserve Groundbreaking

McDowell Housing Partners celebrated the groundbreaking of its 84-unit workforce housing project in Dallas-MSA, TX with a ceremony in Irving, TX.

Community members, partners and government leaders all gathered at the future site of Lakeview Preserve Apartments at 2800 S. Macarthur Blvd to celebrate the new development. Mayor Rick Stopfer and District Council Member Phil Riddle were among those in attendance.

The $20.8 million-dollar residential development is slated to provide 84 units of workforce housing and will consist of 1, 2, and 3-bedroom units. The units will be available for individuals, families and seniors at or below 80% of the area median income. The property will also feature an outdoor playground, pool with cabaña, walking trail and outdoor BBQ grilling and picnic area.

Construction on the project will begin in phases with an anticipated completion date of September 2022.

About McDowell Housing Partners

McDowell Housing Partners (MHP) is the affordable development arm of McDowell Properties, a national multifamily housing investment company that has acquired and developed over 40,000 units across 13 states. MHP is one of the fastest growing affordable housing (LIHTC) investors and developers in the nation with offices in Miami, FL and Dallas, TX. The Company has four developments under construction with ten fully funded projects, totaling more than 1,500 units in its development pipeline, that are all scheduled to close within the next 12 months. Additionally, MHP has raised over $50 million in equity for its first investment fund, specifically targeted at acquiring existing LIHTC assets.

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