Habitat For Humanity Investing In 5 Dallas Neighborhoods

story updated 4:25 p.m.
DALLAS (CBSDFW.COM) - On Wednesday, Habitat For Humanity announced a major investment in five Dallas neighborhoods, including some in the poorest parts of the city. The press conference, held at Dallas City Hall, officially revealed the plans.

According to some executives with the Dallas branch of Habitat For Humanity, the "Dream Dallas" plan will be one of the largest projects of its kind. The Dream Dallas project includes constructing new homes and refurbishing others that are rundown.

Dallas Area Habitat for Humanity is spending $100 million on the project.

An estimated 1,000 homes will be constructed and refurbished by 2014, all in parts of the city which have been underserved for decades.

"In the 21st century we realize we have to move our vision to revitalize Dallas neighborhoods that need it the most," explained Bill Hall, CEO of Dallas Area Habitat for Humanity.

The Dallas Dream project aims to revitalize areas by providing homes for low- to moderate-income earners. According to Habitat officials the average house will cost between $85,000 and $105,000, depending on the location.

"Dallas Habitat is looking to transform these impoverished areas into neighborhoods people want to call home, and break the cycle of poverty for deserving families in Dallas," said Hall.

Habitat For Humanity will also be buying land and properties that have become a nuisance, in hopes to use that space for military veterans and senior citizens.

The five Dallas neighborhoods being targeted in this project are: Bonton, the South Dallas area near Fair Park, West Dallas, Joppa and the Lancaster Transportation Corridor. Each of these neighborhoods will receive a varying number of new homes, along with about 20 homes in each area being refurbished.

Those who apply for the homes are families earning between $20,000 and $40,000 each year.