How developers are building Dallas' history into the future » Dallas Innovates

Maggie Parker launched the Community Developer Roundtable in 2022 because she saw an opportunity to address deep-rooted issues by adopting an approach that seems to be gaining momentum in Detroit.

“A woman I met through the National Fellowship Program had a training program for ‘developers of color,’” Parker said during a recent CDR bus tour, “and I thought we needed that in Dallas, too.”

Just two years later,Carr is working to achieve two goals: building more affordable housing and allowing minority developers to expand their business and influence. A bigger pie means everyone gets a bigger piece, which she believes will have big benefits nationwide. data The Grove Collective Foundation supports this idea.

Grove estimates that diversifying the real estate industry could bring in more than 50,000 new black and Hispanic developers, create 1.7 million new jobs and bring $106 billion in new revenue to the real estate industry.

“It’s powerful to see everyone coming together to support our developers,” Parker said. “I’m excited, encouraged and grateful to everyone who’s been with me on this journey.”

One of them is Porcia Barretto, a Dallas CPA with HM&M who specializes in corporate tax and provides financial expertise to a community of developers who have great ideas but need guidance on the complexities of tax law.

Barrett grew up in Dallas and has seen the area change over the years, and he wants to do his part to continue that growth.

“What I find most helpful is making sure your financial statements are prepared correctly and that you’re registered with the right tax authorities. It can be confusing when you’re just starting out.”

Barrett says it’s a simple solution that could speed up their success.

“When banks and other developers look you up because they want to work with you, you want to make sure they’re looking at all the right information to start the partnership off strong.”Barrett likes taking tours like the one on May 30 so he can see firsthand the work CDR’s second group of developers has already done and the opportunities that still exist.

Mission-Driven Developers

Monica Balderas, Founder and CEO Longhorn Contractors, She is completing her second cohort of nine-month CDR, specializing in transforming abandoned buildings into local attractions.

“I was born in the projects of West Dallas and grew up in Oak Cliff, so I’m passionate about rebuilding those same communities.”

Her mother still lives in Bishop Arts, and while the area has changed a lot in the past decade, she said many people are still being pushed out of their homes by rising housing prices.

“Building affordable housing is what I do for a living,” said Balderas, smiling, as she currently works on renovating three rental homes in South Dallas and one in Fort Worth.

Margaret Felder is another developer on a mission to create a catalytic project in the neighborhood where she spent her childhood.

“I bought a two-story house in South Dallas, and I knew I wanted to get more involved in real estate by living on one side and renting out the other.” Felder said.

Soon she met two men involved in real estate development, one of whom was in the midst of his first new construction.

“I went to work as a respiratory therapist and then headed off to a project. I reflected on everything that had happened that day and made plans for the next day.”

She learned about the process, the potential pitfalls, and the path to success. Now, she owns her own company, Felder Homes, and is most proud of being able to make an impact in her childhood community. In the past three years, she has completed over 15 new construction projects. Currently, she is serving as a construction partner on a 10-acre subdivision in Lancaster with a total of 52 single-family homes. House.

Dallas’ turning point

Parker believes that regional and national partnerships can help determine which strategies will pay off, and that Dallas is at a critical point in its evolution.

“If we don’t invest in community revitalization projects and housing affordability projects, we’re not going to see sustained growth. We know things can get worse, and we’re seeing the same thing in other parts of the country.”

Wendy Nalls Economic development Dallas’ city manager agrees, saying today’s great local economy is due in large part to attention to housing options: “If you look back at Dallas’ history, one of the things that helped Dallas grow was affordable housing. We believe housing should be accessible. We want to make sure there’s enough inventory available regardless of socioeconomic level.”

CDR participants are conducting an inventory for each project. For the latest information, Innovan District On LinkedIn.