DALLAS--(BUSINESS WIRE)--Bobby Turner, Eva Longoria, and other representatives of the Turner Multifamily Impact Fund – a real estate investment fund managed by Turner Impact Capital that addresses the nation’s shortage of affordable workforce housing – gathered at a fund-owned Dallas apartment community today to unveil a new on-site healthcare innovation designed to improve access to top-quality medical care for its residents.
The Family Health Virtual Visit Kiosk at Legends on Lake Highlands provides “virtual doctor’s visits” to residents, without the need to leave the property, at a lower cost than many traditional medical appointments. Part of the growing healthcare industry trend toward convenient telehealth, the Virtual Visit Kiosk connects residents by real-time video to doctors who can diagnose a range of medical conditions. No appointment is necessary for the kiosk, which is available to property residents seven days a week.
Legends on Lake Highlands is an affordable workforce housing community in East Dallas owned by the Turner Multifamily Impact Fund, whose portfolio currently spans approximately 4,000 units in Dallas and seven other markets and will grow to approximately 10,000 units totaling $1 billion in value. The new healthcare technology was introduced during a visit to the property by Bobby Turner, Principal and CEO of Turner Impact Capital, and Eva Longoria, a partner and fund ambassador.
“Improving access to high-quality affordable housing as well as access to high-quality healthcare services are core missions for Turner Impact Capital, so I am enthusiastic about the new resource we have introduced at Legends on Lake Highlands,” Turner said. “This is a prime example of the innovation we embrace to ensure we make good on our promise to tackle daunting challenges with sustainable, scalable, market-driven solutions.”
The Turner Multifamily Impact Fund seeks to address the nation’s acute housing affordability crisis by preserving the workforce housing status of the properties it acquires. The fund drives positive social and environmental impact – while generating strong risk-adjusted financial returns – by implementing property management improvements and resident-focused enrichment programs. These programs include afterschool tutoring, community health and well-being services, and neighborhood watch programs. Property management and enrichment services for the full portfolio are implemented through a dedicated property management company, TI Communities, based in Dallas.
Located in the Lake Highlands community northeast of downtown Dallas, Legends on Lake Highlands consists of 356 units in 27 two- and three-story garden-style residential buildings. Amenities include two swimming pools, a fitness center, a dog park, and a new resident enrichment center currently under development. The property is located near the “Telecom Corridor,” a large technology business center that accounts for more than 80,000 jobs, as well as Texas Health Presbyterian Hospital Dallas, Texas Instruments, and NorthPark Center, a large regional mall.
Each acquisition by the fund advances its objective of preserving and enriching critically needed rental housing for families who earn less than the area median income and live in densely populated, ethnically diverse urban communities. Residents include community-serving professionals such as teachers, police officers, health care workers, service workers and others who earn too much to qualify for subsidized housing, but not enough to afford higher-cost apartments or home ownership in areas near their workplaces.
A famed actress, businesswoman and philanthropist, Longoria helps the Turner Multifamily Impact Fund raise awareness about the critical shortage of workforce housing and highlights the potential for innovative, market-driven solutions to make a positive difference in the country. In addition to viewing the Virtual Visit Kiosk in action today, she also toured the property and visited with community residents.
“Housing and healthcare are two fundamental concerns for any family – especially those of limited means. After speaking with residents and seeing the potential of this remarkable new Virtual Visit Kiosk, I am heartened that both of these critical priorities are being addressed at Legends on Lake Highlands,” said Longoria, who later visited a fund investment in San Antonio as well. “This experience has reinforced my belief in the power of social impact investing to make a positive, lasting difference in many facets of people’s lives.”
The Family Health Virtual Visit Kiosk program was launched by Texas-based Children’s Health, one of the nation’s leading pediatric healthcare providers. The kiosk is outfitted with a full suite of diagnostic equipment to allow patients to be quickly evaluated and treated virtually by a healthcare provider for a range of common conditions such as allergies, flu, cough, cuts, infections and more. A medical assistant staffs the kiosk in person to assist with equipment, answer questions and provide other services.
Dedicated to generating “profits with a purpose,” Turner Impact Capital is an acknowledged leader and innovator in the growing field of social impact investing – an investment approach that takes into account two goals: generating positive, risk-adjusted financial returns and creating purposeful, measurable, and positive social and environmental impact through those investments. Founded in 2014, the firm is on course to surpass $2.5 billion in investment potential to address a multitude of challenges facing urban neighborhoods while delivering superior risk-adjusted returns for its investors.
In addition to multifamily workforce housing, Turner Impact Capital is focused on two complementary investment strategies to help address some of the country’s most pervasive social issues through real estate infrastructure-related solutions. The firm’s targeted education strategy – the Turner-Agassi Charter School Facilities Funds, a partnership with tennis legend Andre Agassi – seeks to meet the growing demand for quality charter school facilities, improving the educational achievement and life outcomes for underserved students. The firm’s healthcare strategy – the Turner Healthcare Facilities Fund – invests in community-serving healthcare facilities to improve access to top-quality medical care to improve healthcare outcomes for residents of underserved communities.
About Turner Impact Capital
Turner Impact Capital is an investment management firm based in Los Angeles focused on creating sustainable solutions for many of today’s societal problems by developing and investing in community enriching infrastructure in densely-populated, underserved communities. The firm seeks to generate superior risk-adjusted financial returns by investing in markets with large existing supply/demand mismatches of relevant community infrastructure (i.e. workforce housing, public schools and community serving healthcare facilities) and a lack of institutional capital. The firm seeks “profits with a purpose,” recognizing the interdependence between the two and the central role that improving property and the lives of people can play in achieving superior risk-adjusted returns. The Turner Impact Capital leadership team has over 100 years of relevant experience in facilitating more than $6 billion of socially impactful and environmentally responsible real estate investments over the past two decades.
Turner Impact Capital seeks profits with a purpose. Learn more at: www.turnerimpact.com or @turnerimpact on Twitter.
