ResProp Management has entered into an agreement with DevCo Residential Group to assume management of eight multifamily affordable housing communities across Texas, expanding its presence in the Dallas, Houston, and San Antonio metropolitan areas. The transition, effective immediately, adds Rosemont of Lancaster, The Mondello, Rosemont at Ash Creek, and The Positano in Dallas; Brookside Gardens and Park at Humble in Houston; and Costa Almadena and Tigoni Villas in San Antonio to ResProp's portfolio.
All eight communities provide affordable housing opportunities for eligible applicants and represent a significant addition to ResProp's growing affordable housing management platform. Luke Leins, Senior Vice President of Business Development at ResProp Management, emphasized the importance of specialized management in affordable housing: "Affordable housing requires more than standard property management. It takes operational discipline, compliance knowledge, resident-focused service, and dedicated internal support. Our client shares our vision for strengthening these communities, and ResProp brings the specialized teams, systems, and experience needed to help these properties perform while continuing to serve eligible residents across Texas."
Michael Snowdon, Vice President of Asset Management at DevCo Residential Group, expressed enthusiasm for the partnership: "We are excited to partner with ResProp Management on our Texas portfolio and continue providing quality affordable housing to our residents. Their expertise in affordable housing management and commitment to operational excellence align well with our mission, and we look forward to building strong communities together across Texas."
ResProp's transition, operations, marketing, compliance, and centralized support teams are already active across all eight communities to ensure a smooth handoff for residents, clients, and onsite team members. This expansion strengthens ResProp's Texas footprint while deepening its commitment to managing affordable housing communities with care, accountability, and long-term operational focus. ResProp Management currently oversees more than 19,000 apartment homes across Florida, Texas, and South Carolina, with headquarters in Austin, TX.
DevCo Residential Group, founded in 1994 and headquartered in Washington State, develops and owns more than 14,000 affordable, workforce, and market-rate apartment homes. The partnership with ResProp allows DevCo to leverage ResProp's specialized affordable housing management expertise while focusing on its core development and investment activities. Residents and stakeholders can learn more about the properties through their respective websites: Rosemont of Lancaster, The Mondello, Rosemont at Ash Creek, The Positano, Brookside Gardens, Park at Humble, Costa Almadena, and Tigoni Villas.
This announcement underscores the growing demand for specialized affordable housing management in Texas, where population growth and rising housing costs have increased the need for quality affordable options. ResProp's expansion into these markets highlights its strategic focus on affordable housing, a sector that requires rigorous compliance with federal and state regulations, as well as a resident-centered approach. By partnering with DevCo, ResProp aims to maintain high occupancy rates and resident satisfaction while ensuring long-term sustainability of these communities.
