Is preservation the way?
Marc Duchen wants a preservation fund. But we already got one.
Over on the City Council message board CM Marc Duchen has an idea for preserving affordable housing. He points to a fund launched by the city of Dallas "that helps preserve older, low rent market-rate housing, or 'naturally occurring affordable housing.'"
The Dallas Housing Opportunity Fund was started in 2021 with $6 million of seed money from the city of Dallas but has since attracted tens of millions of dollars in private investment. While the fund is mission-driven, it is backed by investors who are seeking a return on their investment.
Duchen is bringing a resolution asking the city manager to set up something similar in Austin.
The thing is, something very similar already exists: the Texas Housing Conservancy.
