DUBLIN, CA – CSCDA Community Improvement Authority and BLVD Impact Housing, in a public-private partnership, have bought the Waterford Place Apartments in Dublin, CA, a suburb in the East Bay. While CSCDA and BLVD’s affiliate, BLVD Communities, have worked together in the past on the preservation and rehabilitation of low-income housing, this acquisition marks their first collective effort toward solving the needs of the “missing middle” through the creation of 390 moderate income units.
Originally constructed in 2003 as a market rate community, the luxury apartments feature a best-in-class amenity package, complete with resort style pool, 24-hour gym, movie theater, clubhouse and ground floor retail. The property also features immediate access to the Shops at Waterford and Emerald Glen Park, a 48-acre neighborhood park with aquatic center, sports fields and picnic facilities. In its capacity as the project administrator, BLVD will ensure the property remains a Class-A apartment community well into the future.
Starting immediately, newly vacant apartment units at the property will be made available to households earning less than 80%, 100% or 120% of the area median income. The rental rates for the units will be affordable for each of the income categories, resulting in reduced rental rates of approximately 10% from current market rents, with a cap on future rental rate increases. In addition, no existing tenants will be displaced and those with qualifying income will receive the applicable rent reductions. The rental rate reductions will provide a significant benefit for middle-income residents of Dublin, including teachers, healthcare works and other essential workers.
BLVD’s Managing Principal, Patrick Luke, states, “As a company, we are constantly striving to have a positive impact on the housing crisis. Through the conversion of 390 units into the essential housing program, we are thrilled these units will be available to an increasingly vulnerable and growing population now and into the future.” Over the last 8 years, BLVD and its affiliates have developed, preserved and own a portfolio of more than 6,000 total units. Luke continues, “But, 390 units is just a small drop in a large bucket. We will continue to focus on finding innovative solutions until a crisis no longer exists.”
The City of Dublin’s support was critical to this transaction, and showcases their commitment to the residents of their community. “I am so pleased to see that the Waterford will provide affordable rentals to mid income and lower income earners, such as school teachers, police and entrance level professionals,” said Dublin City Council member Sherry Hu. “It is a excellent example of a public-private partnership; the City of Dublin, Blvd Impact Housing and CSCDA. I am pleased to see that the city council is able to play a huge part in achieving this much needed affordable housing project.”

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HOUSTON, TX – San Francisco-based real estate investment firm Hamilton Zanze (HZ) announced the sale of The Point at Cypress Woods Apartments, located in the suburbs of Houston. HZ bought the property the property in 2014 and the sale closed on August 25, 2021.
“The Point at Cypress Woods illustrates our ability to identify multifamily investment opportunities and increase value through upgrading the property, renovating units and improving management,” said Anthony Ly, director of dispositions at Hamilton Zanze.
The Point at Cypress Woods was built in 1983 and is located at 11800 Grant Road in Cypress, Texas, a suburban community in the Northwest Houston metro area. The property comprises 530 one-, two-, and three-bedroom units featuring high ceilings, upgraded kitchen and bathrooms, washer and dryers, balcony or patios, fireplaces, skylights, and walk-in closets. Community amenities include a gated entrance, 24-hour fitness center, two swimming pools, spa/hot tub, playground, picnic area with barbecue grills, sundeck with lounge chairs, and three onsite laundry facilities.
During their ownership, Hamilton Zanze upgraded unit interiors with new appliances, flooring, and countertops. The company also improved community amenities including pool area enhancements, landscaping and irrigation repairs, carport installation, exterior roof/siding upgrades, and repainting all buildings. The Point at Cypress Woods was 94% occupied at the time of sale.
The property is close to several major employers in the market, such as St. Jude’s Hospital (approximately six miles from property) and Hewlett-Packard (four miles from property). The community’s location provides simple access to two major highways connecting residents to downtown Houston and surrounding cities. The Point at Cypress Woods is well-located in the city of Cypress, which is now ranked #50 among the top 100 highest-income urban areas in the U.S. by per capita income. It sits just outside of the Houston metro area, a significant economic and cultural center of the American South, and an area expected to see rapid population growth in the coming years.

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JONESBORO, AR – DLP Capital, a private financial services and real estate investment firm, announces the acquisition of Stadium Place, a 200-unit multifamily property, located in Jonesboro, Arkansas. The addition of the community, which will be renamed to DLP Jonesboro, increases the number of DLP Capital-owned multifamily apartment homes to 568 units in the greater Memphis area, positively impacting the workforce housing affordability crisis throughout the Sunbelt and across the country.
Our investors trust us to make an impact for the greater excellent while we strive to achieve remarkable returns for their investment, said Don Wenner, Founder and CEO of DLP Capital. The acquisition of DLP Jonesboro continues to add to our growing portfolio and advances our mission to provide housing that is affordable to working families throughout the greater Memphis area.
By making internal and external renovations and improvements throughout these bedroom communities that are often forgotten about by developers focused on building new luxury housing, DLP Jonesboro is another example of the company s continued commitment to serve families and the communities where they reside by providing stable and safe housing in proximity to excellent schools, with rents that are affordable.
DLP Jonesboro was built in 2000 and includes 1, 2, and 3-bedroom units. It is conveniently located near downtown Jonesboro s major retail center, restaurants, and Arkansas State University, (the second largest university in Arkansas). The property is close to major highway routes offering convenient one-hour access to Memphis, Tennessee. The DLP Capital community includes 10 residential buildings, a swimming pool, a state-of-the-art fitness center, playground & picnic areas, a basketball court, and additional amenities.

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