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…