Turner Impact Capital Buys 655 Units of Affordable Housing in Dallas
June 02, 2016
Bobby Turner and his Turner Impact Capital have made a lot of headlines at Bisnow in the last couple of years, particularly in its home base of Los Angeles. But after announcing last week that the private equity firm bought 1,300 units of workforce housing in Texas—655 units in Lake Highlands and Oak Cliff, and 645 units in Austin and Las Vegas—and partnered with actress and Texan Eva Longoria, Dallas will soon be far more familiar with the venture for social change. Turner Impact Capital has a three-fold mission: to provide education, affordable housing and preventative healthcare in dense and diverse cities with a disparity of hope for blue-collar residents. Essentially, it builds schools, fills apartment complexes with tenants who can trade skills for lower rents (ie teachers would provide tutoring services or police officers would keep guard over residences) and staffs healthcare clinics with residents with healthcare training (ie nurses and medical technicians).