Texas Housing Conservancy Fund
Administered by the Texas Housing Conservancy (TxHC), the Texas Housing Conservancy Fund is an open-ended social impact private equity fund for high-net-worth individuals, family offices, private foundations, institutional investors, Bank CRA programs, larger foundations and others. Unlike other impact investment funds, which invest in enterprises with social or environmental missions, the Texas Housing Conservancy Fund is the first to invest long-term equity directly in the problem it endeavors to solve: moderate and middle-income housing affordability.
The Texas Housing Conservancy will purchase existing market affordable multifamily properties in geographically diverse, transit-rich areas throughout Texas. By securing private investment and offering a steady, low-risk financial return, the Texas Housing Conservancy will help to stabilize the loss rate of middle-income housing for Texas’s workforce that provides vital services to our communities: everyone from teachers, to baristas, to musicians, to bus drivers.
Texas Housing Conservancy (TxHC) is a 501 (c)(3) and is the sponsor and investment manager of the Texas Housing Conservancy Fund. TxHC (formerly Affordable Central Texas) was formed in 2016 by a group of highly experienced Austin real estate, finance and affordable housing professionals, to ensure Texas’ workforce can afford to live in greater Texas’ by building a social impact fund to preserve well located multi-family apartment properties for long-term affordability as well as provide programs to build community and improve resident outcomes.
Sources
Last updated: Nov. 8, 2024
Program details
City: Austin-Round Rock-Georgetown, TX Metro Area
Program geography: City
Entities involved: Private Equity Fund
Market Category: High Cost Market Resources
Tool Category: Tools for Mission Driven Owners
Tool Description: Acquisition Financing
Year started: 2016
Target tenants: Between 60% and 120% AMI
Affordability restrictions: Yes. At least half the residents in the fund portfolio will earn 80% of median income or less
Funding description: Social impact private equity fund for high-net-worth individuals, family offices, private foundations, institutional investors, Bank CRA programs, larger foundations and others.
Funding sources: Charitable Donations, Endowments, Investor, Philanthropic/Foundation, Social Impact Equity