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Builders of Hope outlines Phase 2 of Valwood Park 'porches' project; council asks staff for maps, numbers
Summary
Builders of Hope briefed the Farmers Branch City Council on Phase 2 of the Porches at Valwood Park and proposed program changes including a tiered land-acquisition model, a 10-year affordability period and resale/recapture rules; council directed staff to return with maps, budget numbers and Dallas County coordination.
Builders of Hope, a national community development nonprofit, told the Farmers Branch City Council on April 29 that Phase 1 of its Porches at Valwood Park project has sold or placed under contract all five homes and that the nonprofit is proposing a Phase 2 build of roughly 10 homes with a tiered land-acquisition approach and resale restrictions to preserve affordability.
The presentation to the council focused on creating workforce housing priced below market by acquiring lots at subsidized costs and pairing those lots with smaller-footprint homes. James Armstrong, president and CEO of Builders of Hope Community Development Corporation, said the project “has really became a model for how inner suburban cities deal with their housing crisis.” Chris Lewis, Builders of Hope community development officer in operations, added that from “concrete pour to closing is a little over 4…
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