April Housing Extends Affordability for 30 Years at an Affordable Housing Community in McKinney, Texas
More than $19 million in renovations will modernize 232 affordable homes and revitalize amenities throughout the community.
McKINNEY, Texas – August 24, 2026 – April Housing, Blackstone Real Estate’s affordable housing portfolio company, today announced it has extended affordability for at least 30 more years at a 232-unit affordable housing community in McKinney, Texas. Completed through a resyndication, the transaction preserves long-term affordability for residents while committing more than $19.3 million to a community-wide renovation.
In partnership with the McKinney Housing Finance Corporation, this preservation transaction provides residents with continued access to stable, affordable housing for at least an additional 30 years, preventing rent increases to market levels while funding significant improvements to residents’ homes and the surrounding community.
Through the resyndication process, a community-wide renovation plan totaling more than $19.3 million will upgrade residents’ homes, modernize major building systems, improve community amenities, and support the property’s long-term preservation.
Planned improvements include:
Unit and Building Upgrades
- New flooring, fresh interior paint, and quartz countertops in kitchens and bathrooms
- New ENERGY STAR appliances
- HVAC and water heater replacements
- New exterior repainting
- Accessibility conversions, including 13 mobility-accessible homes and six homes adapted for residents with hearing or visual impairments
Common Area and Community Enhancements
- Pool improvements with ADA lift
- A newly installed playground
- Renovated clubhouse with newly furnished activity room, business center with free high-speed WiFi, and fitness center upgrades
“At April Housing, preserving affordability sits at the heart of our mission,” said Perica Bell, Head of Preservation at April Housing. “Extending affordability by at least 30 years for residents, while channeling new investment into improvements in their homes and shared spaces, is truly rewarding.”
“Demand for affordable housing in our community continues to grow, and preserving the homes we have is essential,” said Tyler Underwood, President of McKinney Housing Finance Corporation. “We’re proud to partner with April Housing to keep these homes affordable and to improve the quality of life for residents throughout McKinney.”
Built in 2003, the community includes 232 apartment homes across 13 buildings. Residents will continue to enjoy access to on-site supportive services, including GED training, computer classes, and youth tutoring. The McKinney Housing Finance Corporation is the project’s public partner. ICON Builders will serve as the general contractor, and Benton Design Group will serve as the architect.
April Housing is one of the largest owners and preservers of affordable housing in the U.S. Since 2024, the company has successfully completed the preservation of more than 3,400 affordable homes across the country. Through the preservation program, Blackstone Real Estate has invested more than $350 million in upgrades and improvements for residents at these properties.
About April Housing
April Housing, a Blackstone Real Estate portfolio company, operates, preserves, and creates high-quality affordable housing in the United States. April Housing prioritizes improving communities and supporting residents while expanding the available supply of affordable housing.
