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More than 25 Years Investing in America’s Communities

More than 25

25 Years Investing in America’s Communities

Featured Investment

Asher Apartments

Austin, TX

Investment introduction paragraphs

CDT’s third partnership with the Austin Housing Authority converted market-rate apartments to affordable housing in an area with few viable alternatives.

Partners

Housing Authority of the City of Austin

Austin Affordable Housing Corporation

National Housing Trust

The Kresge Foundation

Highlights

CDT’s third partnership with the Housing Authority of the City of Austin and its non-profit affiliate the Austin Affordable Housing Corporation converted currently market-rate apartments to affordable housing. 51% of the units serve residents at 80% AMI and at least 15% of units are reserved for Section 8 voucher holders.

Our third partnership with a proven non-profit operating partner provides strong risk-adjusted returns. Austin remains one of the fastest growing, most economically diverse metropolitan areas in the country. With single-family homes near the Asher Apartments selling for $300,000-450,000, we expect stable, steady rent increases and low vacancy for the long-term.

Impact

CDT’s investment creates long-term affordability and stability for at least 226 households earning less than 80% of the area median income at income levels significantly below new properties under development in Austin’s fast-growing market.

The project also offered CDT the opportunity to expand its relationships with strong non-profit partners National Housing Trust and The Kresge Foundation.