Affordable Apartment Projects Stand Out in Central Dallas' Rental Market

At least two apartment projects in the works for central Dallas are different from almost a dozen other high-rise residential buildings under development in North Texas.They include designated affordable-housing units reserved for lower-income residents. One of those projects, on the eastern edge of the central business district downtown, will set aside more than 100 units for affordable housing. Developer Jack Matthews — who built the Omni Dallas Hotel — is planning the mixed-income rental community as part of his redevelopment of the old Dallas High School site at Pearl and Bryan streets. The more-than-century-old school on the corner has already been converted into first-class office space. Proposals for construction on the sites surrounding the school have included everything from more office and retail space to mid-rise apartments. Instead, Matthews and his partners are hoping to build a 16-story tower called 2400 Bryan with 230 apartments — 110 of which are reserved for residents earning between 30 percent and 60 percent of the area's median household income.  Continue reading...