ResProp Management has expanded its Texas portfolio by taking over management of eight affordable housing communities across the Dallas, Houston, and San Antonio metropolitan areas. The company announced an agreement with DevCo Residential Group, a multifamily developer and investment team, to assume management of the properties, which include 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.
The move underscores the growing need for affordable housing in Texas, where rising rents and population growth have strained the market. All eight communities provide housing for eligible applicants, and their addition bolsters ResProp’s affordable housing management platform. Luke Leins, Senior Vice President of Business Development at ResProp Management, emphasized the specialized requirements of affordable housing. “Affordable housing requires more than standard property management. It takes operational discipline, compliance knowledge, resident-focused service, and dedicated internal support,” he said in the announcement.
ResProp’s transition teams are already active across the properties, focusing on operations, marketing, compliance, and centralized support to ensure a smooth handoff for residents and clients. Michael Snowdon, Vice President of Asset Management at DevCo, expressed confidence in the partnership. “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,” he said.
The expansion strengthens ResProp’s presence in Texas, where it already manages thousands of units. The company oversees more than 19,000 apartment homes across Florida, Texas, and South Carolina, with a focus on operational excellence and resident experiences. This deal adds to its growing affordable housing platform, which requires rigorous compliance with federal and state regulations.
For DevCo, the partnership allows the firm to focus on development while leveraging ResProp’s management expertise. DevCo, founded in 1994 and headquartered in Washington State, develops and owns more than 14,000 affordable, workforce, and market-rate apartment homes. Approximately 9,000 units are managed internally.
Residents and prospective tenants can learn more about the properties through their websites: Rosemont of Lancaster, The Mondello, Rosemont at Ash Creek, The Positano, Brookside Gardens, Park at Humble, Costa Almadena, and Tigoni Villas.
This deal highlights the importance of specialized management in preserving affordable housing stock, as compliance and resident services are critical to maintaining eligibility for tax credits and subsidies. ResProp’s expansion signals confidence in the Texas market, where demand for affordable options continues to outpace supply.
