Affordable Housing Project Revitalizes Historic Dallas Neighborhood; Public Invited to Grand Opening

City of Dallas, Texas Mar 17, 2025  – NEW AFFORDABLE HOUSING BREATHES LIFE INTO HISTORIC DALLAS NEIGHBORHOOD

Grand Opening March 25 Showcases Three New Developments in Long-Overlooked Bishop Ridge

Savoy Equity Partners presented 170 new homes across three properties in Dallas’ Bishop Ridge today, bringing much-needed housing to a historically underserved area. The development includes 86 affordable units made possible through a collaboration with the City of Dallas, addressing critical housing needs while revitalizing vacant lots that had blighted the area for decades.

“This is a great example of urban transformation,” said Barrett Linburg, principal at Savoy Equity Partners. “Five years ago, this area had problems with crime and abandoned properties. Today, we’re building vibrant housing that respects existing residents while bringing new life to the community.”

The public is welcome to attend the grand opening celebration on March 25th at 10:00 AM at Burnett Lofts (512 N Ewing). Community members, city officials, and media representatives are encouraged to attend.

Where Opportunity Meets Affordability

Located in a designated Opportunity Zone–a federal program designed to stimulate investment in economically distressed communities–these developments are the largest investment in the predominantly Hispanic Lake Cliff area in over 50 years:

• Burnett Lofts (512 N Ewing): 86 units featuring unique two-story lofts with downtown skyline views
• The Cambridge (627 N Lancaster): 42 units with premium rooftop decks and community spaces
• Ferguson Flats (624 N Lancaster): 42 units offering modern finishes and gathering areas

Through a unique partnership with the Dallas Public Facility Corporation, half of the units are reserved for residents earning 60-80% of the Area Median Income, making high-quality housing accessible to working families.

“The Opportunity Zone legislation was very important,” said Savoy principal Seth Bame. “It allowed us to attract private investment into a community that had been overlooked for a long time, while maintaining the neighborhood’s unique character.”

Council Member Chad West praised the development, saying, “I want to thank Savoy for adding much-needed affordable housing units in District 1. These types of PFC projects are essential to help keep up with increasing demand as more people call Dallas home. In addition, combining market rate and affordable units in the same building means we can create more of the mixed-income, inclusive neighborhoods that our city has historically failed to produce.”

Responsible Growth Without Displacement

Unlike many urban renewal projects, Bishop Ridge’s transformation largely occurred on previously vacant lots, allowing neighborhood growth without displacing current residents. All properties have high-quality amenities while being transit-oriented, with easy access to Dallas Streetcar connections to downtown.

In addition to housing, Savoy partnered with the Texas Tree Foundation to plant more than 200 trees across the neighborhood, improving environmental sustainability and community aesthetics.

The developments add to Savoy’s growing portfolio in the area, which now includes:

• 15 renovated buildings (424 units)
• The first new apartments in the area in over 50 years (The 1906 @ Bishop Ridge)
• Multiple additional projects planned for 2025

Founded by Dallas residents Seth Bame and Barrett Linburg, Savoy Equity Partners specializes in multifamily housing development with a focus on neighborhood revitalization. Learn more at savoyequity.com.

High-resolution photos and interviews available

Savoy Equity Partners                                                                                              

Barrett Linburg

214-432-1736