Affordable & Workforce Housing
Affordable and workforce housing projects account for most of our work. We focus on building in cities and towns most in need of affordable and workforce housing, benefiting the host community as well as our residents. Dakota properties are accessible to the largest segment of the population in the places where we develop and manage properties, including teachers, first responders, and skilled laborers. The household income for our residents is typically between 60% and 100% of the area’s median income.
The U.S. needs 4.3 million new apartment units by 2035, according to research commissioned by the National Multifamily Housing Council and National Apartment Association. While the bulk of Dakota’s work has been and continues to be in affordable housing, the need to meet housing demand also requires a substantial increase in market-rate housing. So, whether in conjunction with affordable or workforce units, Dakota Partners has developed a growing expertise in market-rate properties.