Dallas, TX
How This Dallas Developer Is Transforming Neighborhoods in Southern Dallas Through Affordable Housing, One Property at a Time
Many people get into real estate for the potential financial rewards. But for Jay McIlveen, president of Five Star Properties, the returns come in more than dollars and cents. Since 2020, he’s been investing in property that he remodels into quality, affordable housing, full time.
Jay McIIveen
His passion for real estate started as a side hustle and grew as he realized he had an opportunity to make a positive impact on people’s lives.
“In 2002, I was working in corporate America and buying houses on the side, and I would either sell them or rent them out,” says McIlveen. At that time, he worked with a mix of clients, but when the market crashed in 2008, and he was still getting payments from his Section 8 tenants, he pivoted.
Rental exterior
“Initially, that was a financial decision, but the benefit of getting consistent payments from the government means I have more flexibility to help people. A lot of people who are on Section 8 are single mothers, looking for a safe environment for their family,” said McIlveen.
He keeps this front of mind when rehabbing a property.
“Most of the houses we buy are in need of repair—they could be fire or flood damaged, or sometimes the former resident was a hoarder. These are structures that have become a blight on the neighborhood, but they’re still salvageable.”
For Mcllveen, ‘salvageable’ doesn’t mean just getting them up to code—that’s table stakes. He’s creating housing that is affordable, move-in-ready, and a source of pride for those who live there. His approach has a multiplier effect on under-championed areas.
Picture of interior of home with extensive damage from flooding.
For example, while many landlords engage in tenant turnover and continue to raise prices, Mcllveen says most of his tenants stay for at least five years. One told him she wants to stay in her house forever.
“She and her husband moved to a house near the zoo, which has a lot of revitalization happening now. But 16 years ago, it was a different story. I had several tenants come in and out before them, but when they moved in, they stabilized the property,” said McIlveen.
He got to know the couple well — even hiring the husband to do some work on other properties. When he passed away a few years ago, she couldn’t afford the rent on her own. McIlveen says property prices near the zoo have tripled in the past decade, but because of the relationship, he adjusted her monthly payment to one that she could afford.
“Yes, real estate has been profitable for me, but when I have a tenant tell me that she wants to stay in her home forever, that is invaluable.”
For Mcllveen, the biggest reward is being in a position to help people through some of life’s challenges while disproving misconceptions about Section 8 tenants.
“This idea that they don’t take care of your property is an unfortunate stereotype said Mcllveen.
To date, Five Star Properties has purchased, rehabbed, and sold (or rented) more than 40 single-family homes. Currently Five Star has 15 single-family homes in its portfolio, and in 2023 Mcllveen was selected to join the second cohort of the Community Developers Roundtable. He says joining the CDR has enabled him to keep growing as a developer and ultimately reach more people.
“It’s all about relationships, and the CDR has been great. For example, the classes that they host, and the doors that they open. For someone who works with housing authorities all over the Metroplex that operate with slightly different nuances, the CDR has helped me navigate and identify partner organizations that have similar missions and goals.”
For more stories on the Community Development Roundtable and its members, click here.
Voices contributor Nicole Ward is a data journalist for the Dallas Regional Chamber.
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FC Dallas returns home this weekend looking to build off last week’s road result as Real Salt lake comes to town for another important Western Conference matchup. With the schedule beginning to pile up before the summer World Cup break in June, grabbing points at Toyota Stadium feels more important than ever right now.
RSL arrives with one of the more balanced attacks in the conference and enough pace to punish mistakes in transition. For Dallas, this one is about staying organized defensively, controlling the midfield battle, and continuing to find consistency in the final third. If those three items can be checked off this weekend, there’s a real opportunity to keep the momentum moving in the right direction before a long summer road trip.
Let’s dive into some notes, predictions, and more.
TL;DR: Match Preview
Quick hits before kickoff.
- Score prediction: FC Dallas 2 – 1 Real Salt Lake
- Key player to watch: Petar Musa – To make the World Cup roster later this month for Croatia, Musa has to continue scoring here and guide the team to a big home win.
- Why this game matters: The next two are at home and after that there are nine straight road games. Dallas has to bank some points at home while they can before the long summer road trip.
FC Dallas Notes:
All-time vs RSL: FC Dallas holds a 24-15-13 all-time regular-season record against RSL. Dallas has scored 79 goals against Salt Lake. RSL has scored 63.
Home record vs RSL: Dallas has a solid 14-2-8 at home against RSL in regular season meetings. Dallas has scored 44 home goals against RSL. Salt Lake has scored 23 goals at Toyota Stadium versus Dallas. Dallas last won at home versus RSL on April 16, 2023. Jesús Ferreira and Bernanrd Kamungo scored for Dallas that night.
Homegrown clock: Homegrown keeper Michael Collodi was the only HGP earning minutes this season until Nolan Norris joined him on the field. Collodi has played the full 90 in each match, while Norris has been in and out of the lineup. Norris also has one goal on the season. Caleb Swann also made his debut off the bench in New York. Together, they have played 1595 minutes. To add more perspective here, Dallas HGPs only accounted for 1683 minutes in 2025.
What to Watch For: FC Dallas vs. Real Salt Lake FC Dallas returns to Toyota Stadium riding momentum from a historic road win in New York, but RSL arrives with one of the most dangerous young attacks in MLS. Here’s what to watch when the Burn host the Claret-and-Cobalt on Saturday.
Notable season stats:
- FCD is 7th in crosses in MLS with 144.
- The Burn are 6th in total distance covered in MLS with 286.24 km (800 miles).
- FCD is third in MLS in aerial challenges won with 171.
- FC Dallas is 9th in MLS in xG with 18.81.
- FCD is 8th in MLS in shot efficiency with 1.19.
- Musa is 4th in MLS in xG with 7.77. He also ranks tied for 4th in MLS in shots with 40.
Potential FC Dallas Lineup:
With another three-games in seven days stretch coming up, Eric Quill will likely go with as strong of a lineup as possible in these next two home games.
Formation: 3-4-3
Projected Starting XI
Availability & Disciplinary Report
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Disciplinary Report
Suspended: none
Suspended with next yellow card: none
Suspended with next two yellow cards: Osaze Urhoghide, Nolan Norris
🗒️
Availability Report
Season-ending injury list: Kaka Scabin
Out: Anderson Julio (Lower leg), Bernard Kamungo (lower leg)
Questionable: none
On Loan: Tsiki Ntsabeleng (Mamelodi Sundowns FC), Enes Sali (Al-Riyadh), Malachi Molina (Nashville SC), Geovane Jesus (North Texas SC), Enzo Newman (North Texas SC)
Unavailable (off-roster): Daniel Baran, Jaidyn Contreras
International duty: none
Real Salt Lake Notes:
Key player for RSL: Diego Luna
Scouting Real Salt Lake: What FC Dallas Needs to Know 🔎 A detailed scouting report on RSL ahead of FC Dallas’ 2026 showdown, breaking down formations, key players, tendencies, and tactical edges.
Disciplinary Report
Suspended: none
Suspended on next yellow card: none
Availability Report
Out: Jesus Barea (knee), Emeka Eneli (knee), Ari Piol (Achilles)
Questionable: Juan Jose Arias (groin), Justen Glad (groin), Lukas Engel (hip)
International duty: none
Big game this week for FC Dallas. Before we get into it, members have the full scouting report, projected lineups, and injury report. If you want to go into Matchday actually knowing what to watch for, now’s the time.
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A mystery trust bought one of the most expensive homes in Texas this week — just months after buying another multimillion dollar property nearby.
The Lost River Trust bought the mansion at 4815 Saint Johns Drive in Highland Park from Dallas entrepreneurs Melbourne and Jamie O’Banion on May 5, according to county records. The final sale price is undisclosed, but the sellers had the home listed for $24.9 million at the time.
The six-bedroom, eight-bathroom home spans 11,433 square feet on a 0.6-acre lot, according to the listing. It was built by Mark Molthan and designed by Tom Weber. They listed the home on March 23 for about $2,200 per square foot.
Allie Beth Allman, founder of the eponymous brokerage, represented the sellers. Damon Williamson with The Agency represented the buyer, according to Redfin.
Just two Dallas homes last year sold with listing prices higher than $25 million, though both sold for well below what they asked. The trust of the late Fortress Investment Group CEO Josh Pack sold his former home at 6601 Hunters Glen Road for $30.5 million after asking $35 million, and manufacturer Guinn Crousen sold his home at 4000 Euclid Avenue for $25.5 million after asking $33 million.
Only six homes in Texas are asking a higher price, according to Zillow. Two effectively tie with the home on Saint Johns Drive: a spec mansion on Strait Lane that’s asking $25 million, and another new construction at 4 Lana Lane in Houston that’s asking $25.5 million.
The Lost River Trust bought another luxury home just six months ago. On Nov. 14, the trust purchased the home at 3709 Euclid Avenue, a four-bedroom, six-bathroom, 5,845-square-foot house that was asking $14 million when it withdrew from the market in September. It’s about half a mile south of the home on Saint Johns Drive.
Melbourne O’Banion is the CEO of Dallas-based tech startup Bestow, which produces software for life insurance companies. His wife Jamie O’Banion is the founder of Dallas-based cosmetics company BeautyBio.
The Crespi Estate at 5619 Walnut Hill Lane, listed by the Cox Family for $64 million, remains the most expensive home on the market in Texas.
Read more
Dallas entrepreneurs Jamie and Melbourne O’Banion list Highland Park mansion for $25M
Estate of late Dallas plastic surgeon Sam Hamra sells historic Highland Park teardown to mystery buyer
Robert Vaughn buys University Park spec mansion that asked $26M
DALLAS – Thunderstorms will roll through parts of North Texas on Friday. Thankfully, none should be severe. Mother’s Day could be a different story.
Friday Forecast
According to FOX 4 Weather Meteorologist Berkeley Taylor, a cluster of thunderstorms will work their way east across the Dallas-Fort Worth Metroplex on Friday morning.
Everything is well below severe limits, just with lots of lightning!
Scattered showers and thunderstorms will move in and out through the day on Friday. Coverage is about 20%.
An isolated strong storm or two can’t be ruled out, but the overall threat is low.
Temperatures will be in the 50s and 60s for the morning, before climbing into the 80s by the afternoon.
Weekend Forecast
Saturday will look similar, with even lower coverage expected.
Sunday presents the best chance to find rain and storms – about 50% as a cold front moves through North Texas.
North Texas is under a Level 2 out of 5 risk for severe weather. The biggest concerns will be with wind and hail.
Timing-wise, the front looks to move through in the afternoon/evening.
7-Day Forecast
Once the front is south of North Texas on Mother’s Day, the rain should come to an end, and it will stay dry into next week.
Temperatures will start to warm into the upper 80s and low 90s by midweek next week.
The Source: The information in this story is from the FOX 4 Weather team and National Weather Service.
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