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New Home News
Dallas' City Plan Commission has approved a $54 million, privately funded development of 180 new homes in the Capella Park neighborhood.
According to a release, the development will be executed by Steinbridge Group, a Philadelphia-based real estate investment and development firm working to acquire and remodel homes to lease to middle class working families in major cities across the U.S.
The land, which totals over 15 acres, was purchased from a combination of the Potter’s House Church and Clay Academy Charter School in 2022.
The development will expand the existing Capella Park neighborhood, and is in response to community feedback, requesting more residential opportunities in Southern Dallas.
Capella Park is a "new urbanist" master-planned community just off West Kiest Boulevard between Mountain Creek Parkway and Spur 408, adjacent to Dallas Baptist University, The Potter’s House, near Duncanville.
“Housing remains a scarce resource across too much of the country, and our investment strategy aims to directly support high quality homes for America’s families,” says Steinbridge Group founder and CEO Tawan Davis in a statement.
The development will consist of three-bedroom townhomes for rent.
In 2023, Steinbridge Group partnered with PNC Bank to reduce hurdles to homeownership for working families through the launch of a mortgage financing program in Philadelphia.
The release says their investment in the Capella Park neighborhood is a demonstration of their commitment to fostering access to homes in key metro areas across the country and contributing to the overall housing supply.
