Dallas City Council supports Dallas’ growth with major investment in Malcolm’s Point Retail Center
Dallas, Texas – Earlier this week, the Dallas City Council unanimously approved a $1.5 million loan and grant package to support the development of Malcolm’s Point Retail Center. Spearheaded by SouthFair Community Development Corporation (CDC), this project will be located at Al Lipscomb Way and S. Malcolm X Boulevard, bringing essential retail, office, and restaurant spaces to South Dallas.
A Boost for South Dallas Redevelopment
“This project brings needed retail options and creates opportunities for local small businesses,” stated Deputy Mayor Pro Tem Adam Bazaldua. “It’s a major step forward for South Dallas.”
The $2.3 million initiative will feature a 4,800-square-foot building, which will house the offices of SouthFair CDC and Aunt Irene’s Kitchen, a restaurant poised to serve the local community. The project aims to enhance access to services while fostering economic growth in the area.
“Our Malcolm’s Point Retail Project has been a long labor of love,” expressed Annie Evans, Executive Director of SouthFair CDC. “We’re grateful for the City’s partnership and the collaboration that brought us to this milestone.”
Strategic Funding and Collaboration
The City’s $1.5 million financial commitment includes a low-interest loan from the South Dallas Fair Park Opportunity Fund and a community development grant, with additional backing from the Texas Mezzanine Fund. This collaborative effort underscores the city’s dedication to fostering equitable growth and development in underserved areas.
“This project is a model for how community development drives economic growth,” said Interim City Manager Kimberly Bizor Tolbert. “We’re proud to support the efforts of SouthFair CDC and our community partners.”
Setting the Stage for Future Growth
Founded in 1991, SouthFair CDC has been pivotal in housing and redevelopment efforts across South Dallas. Malcolm’s Point Retail Center represents the latest milestone in their mission. The South Dallas Fair Park Opportunity Fund, established in 1989 to promote economic development near Fair Park, played a significant role in securing funding for the project.
“This is just the beginning,” said Leander Johnson, Chairman of the Opportunity Fund Board. “Malcolm’s Point paves the way for further growth and opportunities that will uplift our community.”
Malcolm’s Point promises to be a cornerstone for community development in South Dallas, offering resources, opportunities, and renewed vibrancy for residents and businesses alike.
