CEO Note
I am thrilled to share some incredible updates that highlight our continued success and growth at Austin Housing Conservancy! First and foremost, we are honored to announce that we have been named a finalist of the prestigious ULI Americas award for excellence. This recognition underscores our commitment to innovation and excellence in real estate. Additionally, I am proud to congratulate our esteemed co-founder and chairman, David Steinwedell, for receiving the Austin Business Journal Affordability Award. His leadership and vision continue to drive us towards making a meaningful impact in our community.
On the operational front, we have strengthened our team with the addition of a highly experienced Director of Acquisitions, Jon Mendoza, specializing in private equity and multifamily assets. This strategic hire positions us for even greater success in identifying and capitalizing on investment opportunities in the market.
Speaking of opportunities, we are closing in on the acquisition of Twelve100 and Cielo North Domain by the end of September! These properties represent exciting additions to our portfolio, strategically located near The Domain and poised for transformation into thriving communities.
Lastly, I am pleased to report that we are nearing our ambitious goal of $50 million in our capital raise campaign. Your continued support and confidence in our vision are instrumental as we forge ahead towards new milestones and successes!
Sincerely,
Monica Medina
The Austin Housing Conservancy has been chosen as one of 18 finalists from across the United States and Canada to receive the ULI Americas Awards for Excellence. The ULI Americas Awards for Excellence is one of the most prestigious awards programs in the real estate industry.
This year’s finalists include 16 developments in the United States and two in Canada. The program evaluates projects across a number of factors, including achievements in marketplace acceptance, design, planning, technology, amenities, economic impact, management, community engagement, innovation, and sustainability.
2024 Austin Business Journal Affordability Award
The ABJ Commercial Real Estate Awards recognize the projects - and the people and companies behind them - that exemplify best practices in building and development and have the biggest impact on our community.
David Steinwedell was recognized for the creation and implementation of the Austin Housing Conservancy with the 2024 Affordability Award by the Austin Business Journal at a ceremony on May 22, 2024 at the Four Seasons.
“David can take a really complicated sounding idea and make it seem really simple and very investable. He can make it easy to understand, which is important because what he is doing is new. David has a real spirit of generosity. He doesn't care who gets credit for what, he just wants to see affordability improve for Austinites.”
– Mike Nellis, CEO Austin Community Foundation.
2024 W. Neal Kocurek Commercial Real Estate Special Achievement Award
Congratulations to AHC investor and real estate attorney Tim Taylor for receiving the lifetime achievement award for his 37year career at Jackson Walker and longtime leadership of civic organizations such as the Real Estate Council of Austin and Health Alliance for Austin Musicians.
Austin Housing Conservancy has committed capital totaling $45.5 Milliononly $4.5 million short of reaching our interim goal.
$50 million is a game changer and potentially opens doors to institutional capital and others.
Help us close the gap by...
1. INVESTING. If you have been standing on the sidelines, now is the time. The Fund has achieved a five-year annualized return of 7.2%, outperforming the national NCREIF – NFI-ODCE and NAREIT Residential indexes. With two acquisitions closing in August/September, it provides an opportunity for funds to be invested quickly.
2. INCREASING. Consider increasing your investment. 30% of our investors have increased their positions, some multiple times.
3. INTRODUCING. Introduce us to anyone you think might be interested in joining us as an investor (individuals, bank leadership, family offices, foundations…).
Working together we can achieve the goal of preserving 10,000 units affordable for our essential workforce in Central Texas, addressing a critical missing piece for Austin’s housing stock, helping to ensure sustainability, employer and employee recruitment and retention and long-term economic health of our community.
We can do this. Be part of the solution.
The Domain, a vibrant shopping center and business hub, boasts upscale boutiques, fine dining, and dynamic office spaces. Its modern design and bustling atmosphere attract locals and tourists alike. Affordable Central Texas is thrilled to announce the addition of 448 new units just minutes from The Domain, enhancing accessibility and community living options!
The Austin Housing Conservancy, in partnership with the Austin Housing Finance Corporation and Civicap Partners, is excited to announce the acquisition of Twelve100. This 384-unit core plus asset, built in 1997, spans nearly 21 acres and offers residents resort-class amenities. Located just minutes from The Domain, Austin's second downtown, Twelve100 is conveniently situated near major employers.
The property features spacious one-, two-, and three-bedroom floorplans with designer touches, averaging 893 square feet per unit. This acquisition ensures that Twelve100 will be preserved as affordable housing, contributing to the long-term sustainability and vibrancy of the Austin community.
Austin Housing Conservancy is partnering with the Austin Housing Finance Corporation to acquire Cielo North Domain. This 64-unit community, nestled in North Austin near the Domain, caters to a young workforce. Featuring exclusively 1-bedroom units averaging 600 SF, it offers easy access to major highways and employment hubs like Indeed, IBM, Vrbo, and Meta.
With strategic capital reserves for enhancements and a favorable refinance outlook, Cielo North Domain presents a promising investment opportunity in Austin's dynamic rental market. We'll be closing on this property at the end of August 2024!
We have had an exciting and impactful second quarter! In April, Nutritionist Kimberly Flores led our Impact Program, providing valuable information on nutrition basics. This was followed by a detailed webinar in May hosted by Texas Capital, which focused on fraud prevention. The webinar covered a wide range of topics, including personal banking, social media security, and protecting children from modern fraud threats.
Additionally, our onsite teams organized numerous social impact events. Highlights included a Farmers Market, a BBQ by the pool, planting and potting plants, and multiple Mother's Day celebrations across our portfolio. These events collectively attracted over 800 participants.
BACK TO SCHOOL EVENTS!
Looking ahead, we are preparing for our back-to-school giveaway events, scheduled over three weekends this month. We'll be handing out school supplies, and treating families to a fun morning of ice cream, face-painting, water slides, and more!
Back to School Event Dates:
July 13th Bridge at Volente
July 20th Bridge at Terracina
July 27th Preserve at Wells Branch
Support these important community events and help our residents start the school year strong with a donation below!
Our goal is to raise $30,000 for our Back to School community events, and we are currently $15,000 away from reaching it. Your support will be greatly appreciated!
We have hired a new Director of Acquisitions, Jon Mendoza, who started with us on July 8th. Jon is a seasoned real estate acquisitions expert with extensive experience in private equity and multifamily assets. With a strong background in strategic planning and portfolio expansion, Jon has consistently demonstrated an ability to drive significant growth and value. Jon holds an MBA with concentrations in Real Estate Finance and Private Equity from McCombs School of Business at UT Austin. We are very excited to welcome him to the team!
Caro Fenno joins our team as our new Resident Liaison and Marketing Strategist. She has experience coordinating resident programming and community development with Portfolio Resident Services here in Austin and has spent 5 years leading a national yoga and meditation program for Veterans through the Veterans Health Administration. She has a passion for supporting family and children’s mental health and fostering physical and fiscal wellness in communities.
We’d also like to welcome Sam Fischer to our team this summer as he joins our Intern Team. He is studying Media for ACT, Sam helps manage our database of files and media content and assists with documenting our work and the communities we serve.
