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Richardson City Council considers forming affordable rental housing nonprofit

Richardson may create a nonprofit organization to facilitate the development of affordable rental housing in the city.

The overview: A 2025 housing needs assessment found that Richardson needs more well-maintained rental housing units that are affordable for lower-wage workers. The study identified several tactics to encourage these developments, including forming a housing finance corporation or public facility corporation.

The big picture: HFCs and PFCs are nonprofit organizations, overseen by a council-appointed board, that facilitate deals with developers to build or repair affordable rental housing. Both forms of corporations are governed by state legislation and can bring tax exemptions and bonds to development deals that help finance affordable housing projects.

Quote of note: “HFCs and PFCs are a tool in the toolbox to help you reach your housing needs,” said Megan Rahmes, vice president at Hilltop Securities. “Not only do they bring affordability to your community, … but you also receive revenue back to the HFC that you’re then able to put back into your community.”

 
Coming Soon
Mediterranean bakery Kunafa Factory to open Richardson location

Kunafa Factory is set to open a new location in Richardson, per a social media announcement.

The details: The Mediterranean bakery, which currently operates one location in Arlington, serves fresh baklava and kunafa, a crunchy, buttery Middle Eastern dessert made with layers of pastry and cheese, nuts or syrup. According to a filing with the Texas Department of Licensing and Regulation, the bakery is set to be under construction until the beginning of 2027.

  • 600 S. Sherman St., Ste. 108A, Richardson

 
Stay In The Know
‘Less connected, less happy:’ UT Dallas quality-of-life survey measures North Texas affordability, attitudes

North Texans report greater affordability pressures, less neighborhood connectedness and unease about artificial intelligence in a new quality-of-life survey from the University of Texas at Dallas.

The overview: Researchers from the university’s School of Economic, Political and Policy Sciences presented results from the 2026 William C. Short Quality of Life Survey on Oct. 21. They have conducted the survey annually since 2024 to identify issues important to North Texans and bring community members together, said Jennifer Holmes, dean of the School of Economic, Political and Policy Sciences.

A closer look: Respondents identified inflation and prices and housing affordability and availability as the most important issues currently facing their communities.

Quote of note: “The challenge we face as a region is we need faster, more accurate, more accessible data,” project director Timothy Bray said. “We begin by listening to North Texas, asking the folks who live in our communities what they think.”

 
Metro News Monday
Midterm election, Frisco ISD: Check out 6 trending Dallas-Fort Worth stories

Early voting for the Nov. 3 midterm election started Oct. 19, while Frisco ISD introduced a new fare-based busing service. Check out six trending stories from Community Impact’s Dallas-Fort Worth coverage areas.

  1. Frisco ISD introduces fare-based busing at 29 campuses

  2. Early voting begins Oct. 19: Here is what Collin County residents need to know

  3. Q&A: Meet the candidates running for Place 2 on the Collin Central Appraisal District board

  4. Q&A: Meet the candidates running for the Tarrant Appraisal District board of directors

  5. India Bazaar opens new store on Frisco, Prosper border

  6. Avelo Airlines adds 2 more Florida destinations from DTX

 

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Tracy Ruckel
General Manager

Miranda Jaimes
Managing Editor

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