Onu Ventures’ project, The Adaline, is having its groundbreaking this week, and D Magazine features an extensive profile of Onu Ventures’ founder Mikial Onu and The Adaline:
“Mikial Onu can rattle off the stats from memory. Off the top of his head, he’ll tell you that a little over 5,700 people work blue collar jobs of zip code 75241, that the annual income range for those jobs in that area is $40,000 to 70,000, and that of those 5,700 employees, fewer than 3,500 actually live there.
As for the ones that don’t, Onu can recite the area median income (AMI) of where they do reside: $81,000 for DeSoto, $84,000 for Cedar Hill, about $104,000 for Red Oak. They’re the kinds of facts and figures you’d want to know when you’re trying to use 12 acres in Southern Dallas to stimulate private investment.
This week marks the groundbreaking for The Adaline, a 12-acre mixed-use development by Onu Ventures near the intersection of Interstates 45 and 20. Phase one plans, valued at $5 million, include construction of a 4,100-square-foot market and cafe dubbed “Miss Eddie’s,” a 10,000-square-foot outdoor event space bearing the name BKYD, and 5,200 square feet of leasable retail space. Completion is slated for this upcoming fall.”
