More than 200 apartments in North Central Austin are being transformed into affordable housing.

The Austin Housing Conservancy, a real estate investment fund aimed at keeping the city affordable for the middle class, has partnered with the city of Austin Housing and Planning Department and the Austin Housing Finance Corp. to acquire a portfolio of seven existing apartment complexes and a small office building not far from the city’s planned light rail route, to keep affordable in perpetuity.

The deal is another step step toward meeting Austin’s defining challenge of attainable housing. The conservancy fund, maintained by nonprofit Affordable Central Texas, intends to ensure Austinites, especially those who provide essential services, can continue to live in the city amid steep increases in costs of living.

It was not clear when the deal closed but it was announced June 27. The seller appeared to be Austin-based Central Properties Inc., according to county property records.

Authorized by City Council in December 2022, the deal gives AHFC its first properties in City Council District 7 and District 9, in the Brentwood and Hype Park neighborhoods.