Waterford, Vistria Group, Northern Liberties JV acquire multifamily complex in Dallas to convert to workforce housing

Waterford Property Company, The Vistria Group, and Northern Liberties, in partnership with the Dallas Housing Finance Corp. (DHFC), announced the acquisition of a 395-unit class A multifamily community located at 8169 Midtown Blvd. in Dallas.

The joint venture purchased the property, known as Domain at Midtown Park, and at the same time entered into a long-term ground lease with the DHFC. With this acquisition, the owners will immediately restrict rents for new qualified residents to create stable workforce housing as part of an agreement with DHFC in exchange for 100 percent property tax abatement for 99 years.

"Core to our investing and impact philosophy is that creating more affordable housing is a crucial element in building more resilient households and vibrant communities,” said Margaret Anadu, senior partner and head of real estate at The Vistria Group. “We are thrilled to partner with Waterford Property Company and Northern Liberties to ensure housing is af