Waterford and Partners Plans 395-units Conversion to Workforce Housing in Dallas

Partnerships and Ownership

Waterford Property Company, The Vistria Group, and Northern Liberties, in conjunction with the Dallas Housing Finance Corporation (DHFC), acquired the Domain at Midtown Park Blvd.

Conversion Plan

The new owners plan to immediately implement rent restrictions based on the income of tenants, in line with an agreement with DHFC. This agreement grants 100 percent property tax abatement for 99 years.

Tenant Demographics and Rent Allocation

The current tenant demographic consists mainly of moderate-income workforce individuals and families. The joint venture intends to allocate rents accordingly: 51 percent of units for residents earning 80 percent of the average median income (AMI), 39 percent for those earning 140 percent AMI, and 10 percent at market rate.