Developers O-SDA Industries and Across to host Grand Opening March 27 at Jaipur Lofts, which focuses on serving families earning between 30% and 80% of the area median income
DALLAS (March 27, 2025)— The Dallas Housing Opportunity Fund (DHOF) announces the Grand Opening of one of its eight investments in the City of Dallas, Jaipur Lofts, a $27.8 million, mixed-income rental housing community located in East Dallas' East Village neighborhood at 2102 Annex Ave. Led by developers O-SDA Industries and Across, with Saigebrook Development as Consultant, Jaipur Lofts serves working families in the centrally located neighborhood, where no tax credit housing projects have been developed in more than two decades. DHOF’s investment of $5.7 million helped finance the purchase, development, and construction of the site.
The new complex includes 71 spacious one-, two- and three-bedroom units featuring quality, energy-efficient finishes. With a focus on affordability in a desirable location, the entire Jaipur Lofts community will serve those earning at or below 80% of the area median income (AMI), with more than half of its units available to residents earning below 50% AMI and nearly one-third accessible to residents earning below 60% AMI. Jaipur Lofts has leased 40% of its units to date.
"We're excited to celebrate the opening of Jaipur Lofts and the positive, lasting impact it will have on the East Village neighborhood and the entire City of Dallas," said Ben Glispie, senior director of Fund Investments, Strategic Investments for Local Initiatives Support Corporation (LISC). "Together with our partners and investors, we will continue to provide more mixed-income developments like this to mitigate the city's affordable housing crisis."
DHOF is a catalytic investment vehicle created to address the urgent need for quality, affordable housing in Dallas. Managed by LISC Fund Management, LLC (LFM), a wholly owned subsidiary of LISC, in partnership with TREC Community Investors (TREC CI), DHOF supports the development and preservation of mixed-income housing for households in the City of Dallas earning between 30% and 120% of AMI.
“We’re proud to partner with the Dallas Housing Opportunity Fund to bring this vision to life,” said Megan Lasch, president of O-SDA Industries. “Jaipur Lofts delivers high-quality homes that working families in Dallas can afford to stay in this rapidly gentrifying neighborhood—without compromising on location, design, or community. This development represents what’s possible when we come together with a shared commitment to equitable, inclusive housing.”
O-SDA Industries, LLC is a real estate development firm with deep expertise in building affordable housing communities that meet the unique needs of each city and individual neighborhood they serve.
With working families in mind, Jaipur Lofts offers its residents walkability to nearby Monarch Park with various amenities, including a playground and seating areas at less than a half mile away. Additionally, Jaipur Lofts offers close proximity to high-frequency public transit, the Cesar Chavez Learning Center, and the Alex W. Spence Talented/Gifted Academy, as well as a full-service grocery store, a daycare, a medical center, and a downtown Dallas' high-density employment center.
"Jaipur Lofts is more than a mixed-income rental housing development; it is a testament to the critical role public-private partnerships play in addressing our city's persistent housing affordability crisis," said Dominique Pryor-Anderson, senior director of Community Investment for TREC CI. "In only three years, DHOF has supported more than 500 affordable housing units, and I have no doubt it will continue to build on that positive momentum throughout 2025 and beyond."
A ribbon-cutting ceremony will take place in the Clubhouse at Jaipur Lofts from 4:30 to 6:30 p.m. on Thursday, March 27. Leaders from the City of Dallas, leadership from TREC CI, LFM, and DHOF investors are slated to attend. Tours of the new community will be available following the ceremony.
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About DHOF
Launched in 2022 with $6 million in seed funding from the City of Dallas, DHOF is a mission-driven investment vehicle designed to address the city’s urgent need for high-quality, affordable housing. By leveraging both public and private capital, DHOF invests in and alongside local developers to create and preserve housing for Dallas residents earning between 30% and 120% of AMI, with a focus on high-opportunity neighborhoods. To date, DHOF has raised $41.5 million and invested $34 million across eight developments—bringing more than 500 affordable units to the Dallas housing market.
DHOF is managed by LFM in partnership with Dallas-based TREC CI.
About LISC and LFM
LISC is one of the country's largest community development organizations, helping forge vibrant, resilient communities across America. LISC works with residents and partners to close gaps in health, wealth, and opportunity so that people and places can thrive. Since its founding in 1979, LISC has invested $32 billion to create more than 506,000 affordable homes and apartments, develop 82.5 million square feet of retail, community, and educational space, and help tens of thousands of people find employment and improve their finances.
LFM manages $865 million in assets through 12 national and place-based funds across the United States. LFM is a registered investment adviser with the United States Securities and Exchange Commission (SEC) and operates as a wholly owned subsidiary of LISC. The private funds managed by LFM are available only to eligible investors and are offered solely through their official offering documents.
To learn more about LFM, please visit https://www.liscstrategicinvestments.org/fund-management .
*Disclaimer: The investment pools sponsored by LISC are available only to eligible investors, are offered only pursuant to their official offering documents, and are managed by LFM, which is a wholly owned subsidiary of LISC. LFM is an investment adviser registered with the United States Securities and Exchange Commission.
About TREC Community Investors
For more than 30 years, TREC CI has made catalytic investments with over 776 nonprofit organizations dedicated to transforming Dallas. TREC CI furthers that work by creating equitable development that revitalizes the region's most underserved communities. Employing a place-based strategy that transforms a neighborhood block by block, TREC CI provides a combination of loans, equity-equivalent investments, and expert TREC-member technical assistance to work in a collective partnership with neighborhood leaders and community members. TREC CI is an organization that is tax-exempt under Section 501(c)(3) of the Internal Revenue Code and is certified by the United States Department of the Treasury as a community development financial institution. Learn more at treccommunityinvestors.org.
Disclaimer
References made to endorsements or testimonials by any third-party to invest with LFM or DHOF are not indicative of future performance and does not imply any guaranteed level of service, skill, or training. Investors should not rely on endorsements or testimonials for any purpose and should conduct their own review prior to investing. Neither Megan Lasch nor Dominique Pryor-Anderson is a "promoter", client, or investor in LFM or DHOF, and each is a third-party who is not compensated for this statement. Such endorsements or testimonials do not present any material conflict with LFM or DHOF.