Members of the Oakhouse construction team, Mintwood Real Estate and city officials broke ground on the Oakhouse at Colorado complex Monday. Photo by Emma Ruby.

Updated 3/2: This story has been updated to show the Oakhouse at Colorado apartment will have 219 units. The original apartment plan and previous reporting said the complex would have 215 units.

Sign up for our newsletter!

* indicates required

With a champagne toast, the 219-unit apartment complex Oakhouse at Colorado broke ground Monday. Construction is beginning almost exactly one year after the Dallas City Council approved its Public Facility Corporation, Mintwood Real Estate and MSquared to develop the complex.

Of the 219 units at the Oakhouse at Colorado, 110 are priced for people earning no more than 80% of the area median income, which is about $48,000 for a single person.

The affordable apartments will target the “missing middle”: people who make around $50,000 a year and have found themselves priced out of Dallas luxury apartments.

“We have a real displacement problem in the City of Dallas right now,” City Council member for District 1 Chad West said. “We need to find tools to keep [nurses, teachers, city employees] in the city.”

One of those tools is the Public Facility Corporation, which will own the land and building and lease it back to the developer, Mintwood Real Estate.

The luxury apartments will be built in the 900 block of E Colorado Boulevard, next to I-35 and with a direct view of Downtown Dallas. The land, which had not been developed before the project, will be a chance for the city to promote “density without displacement,” West said.

Oakhouse at Colorado is planned as a high-end apartment complex with energy-efficient appliances, quartz countertops and in-unit washer/dryers, as well as “resort-style swimming pool, sky lounge/view deck terrace, fitness center, dog park, coffee bar, meeting/zoom rooms, common area lounge.”