Houston Apartment Investor Buys 378-Unit Affordable Housing Community

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.