Houston Apartment Investor Buys 378-Unit Affordable Housing Community

Houston Apartment Investor Buys 378-Unit Affordable Housing Community
News| November 12, 2026| Mike Boyd
Texas + Apartment Buildings

Turner Impact Capital acquired a 378-unit multifamily community in Houston and will preserve affordability for low- and moderate-income residents through a tax exemption agreement with the Houston Housing Authority.

Under a regulatory agreement with the Houston Housing Authority, the Fund will maintain existing rent restrictions on half of the apartments, reserving at least 152 units for households earning 80% of Area Median Income (AMI) and 37 units for households earning up to 60% of AMI.

Built in 2023, Acova Brentwood is a garden-style community consisting of nine three-story residential buildings across 13.5 acres. The one- and two-bedroom apartments feature resident amenities, including a fitness center, pool with a sundeck, clubhouse, lounge, grilling stations, dog park, personal garages and covered parking.

TI Communities, Turner Impact’s property management affiliate, will operate Acova Brentwood and offer tailored resident enrichment programs in areas such as youth education, adult financial literacy, healthcare, and wellness to enhance residents’ quality of life, economic opportunity, and tenant satisfaction.

Other News

Northmarq Facilitates $11M Refinance of Park Ridge Multifamily

Chicago & Midwest + Apartment Buildings

Northmarq’s Chicago Debt + Equity team, led by Kevin McCarthy and Alex Czachor, successfully arranged the $11.26 million refinance of The Parker on behalf of Newcastle Properties LLC, a national real estate investment firm founded in 1989. The asset, acquired by Newcastle in 2019, is a 46-unit garden-style multifamily community located in the North Shore...

Learn more

Sprouts Farmers Market Planned for Downtown DC

Washington DC + Apartment Buildings

The D.C. Council⁠ approved up to $275 million in bond financing for a California developer to convert a Penn Quarter office building into a 415-unit apartment building with a Sprouts location on the ground floor. The bonds will go to the nonprofit Madrone Community Development Foundation to help with the acquisition, demolition, renovation or the...

Learn more

Broe Acquires 22-Story Luxury Dallas Apartment Building

Texas + Apartment Buildings

Broe Real Estate Group (BREG) acquired Maple Terrace Residences in Uptown Dallas. The 22-story, 345-unit Class AA luxury apartment building opened in August 2024. Hines was the seller. Maple Terrace Residences is part of the new mixed-use project. The project features the new 22-story luxury residential tower, 157,000 square feet of Class-A office space, and...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up