Real Estate

Land Rush in Southern Dallas!

Ever heard of a "notice of funding availability"?

Last Thursday, May 9, the city of Dallas put up for sale about half of southern Dallas. OK, that might be an exaggeration. But it is selling 400 single-family lots. These are properties the city came to own, for the most part, through tax foreclosures. It’s all part of a “land transfer program” designed to get more affordable housing where it is needed most. The process is complicated, as you might imagine. The request for proposal says that proposers (read: buyers) can ask for funding only, for funding and to buy land, or ask just to buy land. And while buyers can be either for- or nonprofit, they must adhere to a bunch of stipulations, including ones that govern what can be done with the land. Here’s a breakdown of the rules. And here’s a cool map of all the available properties. Bear in mind that you can’t buy just one lot; they come in clusters. I’ve got my eye on the 20 lots that make up the West Dallas cluster, and I’m prepared to fight Phil Romano for them. The RFP period closes June 27.

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