In 2015, Austin, Texas’ mayor at the time, Steve Adler, brought together business leaders, real estate professionals, and housing experts to take on the crisis in affordable rental housing and the risks it posed to the city’s workforce stability and economic sustainability. With insights and research from a ULI Technical Advisory Panel and ULI’s
Terwilliger Center for Housing, the
Austin Housing Conservancy fund was born, offering a revolutionary approach to preserving workforce housing. Now known as the
Texas Housing Conservancy, the fund became the nation’s first to combine a nonprofit investment manager, Affordable Central Texas, with an open-end private equity fund.