Southwest Dallas apartments are part of a major statewide purchase of affordable rental units by Elizabeth Property Group.
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“Preserving 1,444 affordable units for low-income Texans is the type of project that meets the core of our mission,” Deborah La Franchi, American South Real Estate managing partner, said in a statement. “Our funds’ investment with Elizabeth Property Group ensures that all of these units will be low-income housing tax credit for the next 20 years.”
Property renters must have incomes less than 60% of the area median income to qualify for reduced-rate units. The apartments were 94% leased at the time of sale. “The Texas low-income housing tax credit portfolio exemplifies Elizabeth Property Group’s mission of maintaining quality affordable housing for local residents,” Tisha Vaidya, co-founder and principal of Elizabeth Property Group, said in a statement.Founded in 2020, Elizabeth Property acquires and rehabilitates affordable apartment units.
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