DALLAS - The city of Dallas continues to grow.
Over the past four years, the city has added $14 billion in new development.
But inflation and a looming recession are taking a financial toll on many residents.
City leaders on Tuesday unveiled a plan to add more affordable housing.
The city of Dallas is experiencing tremendous growth.
Drive around town, and you'll likely see new housing developments being built.
But there is a lack of affordable housing.
A public-private partnership is trying to change that.
The city of Dallas and developers are working to turn a construction site into a mixed-income development to meet affordable housing needs in Old East Dallas.
At a groundbreaking event on Eastside Avenue near South Fitzhugh and I-30, Mayor Eric Johnson said Dallas is in the midst of an economic boom, adding $14 billion in new development over the last four years.
"Businesses want to be here," he said. "Families want to be here, and young people want to move here to start their lives and careers here."
But a lot of new construction is out-of-reach for everyday residents.
"Here in Dallas, we’re facing challenging times with affordable housing as our economy continues to boom," said Councilman Jesse Moreno.
Once complete, Kiva East located along the popular Santa Fe Trail will bring 87 units of high-quality affordable and market-rate housing to an area where much pricier development is anticipated.
According to Kyle Hines with the city of Dallas, the community will be able to serve a single resident who earns just over $20,000, a family of four making $50,000 up to market rate.
"So we're serving a broad range of residents here at this property," he said.
The city of Dallas partnered with Saigebrook Development, O-SDA Industries and Sunflower Bank to make the project possible.
The mixed-use development will also house Bezos Academy, which provides full-day, year-round tuition-free preschool education.
"Our mission is to increase access to affordable quality learning, and we're doing that by adding seats in the community where we see gaps in 3- and 4-year-olds," said Sabrina Watkins with Bezos Academy.
It will have two classrooms and can enroll up to 40 students at any given time.
Bezos Foundation will cover the costs of building out the interior of the space.