Austin real estate exec shifts focus to preserving middle-class housing
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Looking to address the problem of Austin’s diminishing supply of middle-class housing, the head of the area’s lead real estate trade group is rounding up investors more interested in social good than eye-popping returns.
David Steinwedell plans to leave his position as executive director of Urban Land Institute-Austin in September so he can lead Affordable Central Texas, a private equity fund that will purchase and hold multi-unit properties in the middle-class price range, the market for which earns between 60 and 120 percent of Austin’s median income of $55,000.
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Source : Austin real estate exec shifts focus to preserving middle-class housing