Turner Impact Capital has acquired the 423-unit Midpointe Apartments in Chicago, the latest investment by Turner Multifamily Impact Fund III. The fund now owns 1,259 units of affordable workforce housing.
Midpointe, located in the South Chicago submarket, meets the fund’s criteria of providing affordable workforce housing in diverse, densely populated areas near job centers. Tenants generally earn up to 80 percent of area median income and include professionals such as teachers, police officers, healthcare workers and others who often earn too much to qualify for subsidized housing but struggle to afford higher-cost housing near job centers. Turner Impact will soon offer tailored enrichment programs in areas such as youth education, adult financial literacy and community safety to enhance residents’ quality of life and satisfaction.
Midpointe is a garden-style community consisting of eight four-story residential buildings on a nearly nine-acre site. It features 423
