The Sponsor

Mission Statement

Affordable Central Texas (ACT), in conjunction with Austin Housing Conservancy Fund, works to ensure Austin’s workforce can afford to live in greater Austin by building a scalable social impact fund aimed at preserving well-located multi-family apartment properties for long-term affordability. ACT is a 501(c)(3) charitable nonprofit formed by local Austin real estate and affordable housing veterans to manage the activities and investments of the Fund and otherwise act to improve workforce housing in and around Austin.

ACT was established as a charitable organization to relieve the burdens of government and initially serve the Central Texas Area through the preservation of affordable housing.
Established in 2016, its founders are experienced real estate professionals and advocates for affordable housing who engage and participate as the sponsor of the Fund. This charitable organization was initially funded through contributions from its founding members and local and national foundations. It continues to obtain additional capital from charitable donations, endowments, foundations and others.

The team at ACT has a broad base of experience to support the Austin Housing Conservancy Fund’s investments and mission. Throughout their respective careers, the ACT management team members have demonstrated investment acumen, financial expertise, fundraising success and local knowledge of their communities. With more than 25 years of experience each, senior team members have completed more than $15 billion in capital market transactions and have overseen single-asset to multibillion-dollar funds utilizing REIT, 1031 and LP structures in core, value-add and opportunistic strategies.

Locally, the team has more than a half-century of Austin experience, including leadership positions at AIC Ventures, the Real Estate Council of Austin, Koll, the LBJ Foundation, Rubloff, and the Urban Land Institute.

Board of Directors

Marianne Dwight

Secretary, ACT

Michael Best & Friedrich LLP

Frances Ferguson

Executive Director

Mueller Foundation

Printice Gary

Investment Committee, ACT

Carleton Residential

Ashley Hunter

Treasurer, ACT

A. Hunter Company

Sharmila (Shar) Kassam


David Steinwedell


Founder ACT

Brian Strickland

AUdit Chair

Former CFO, ACT

Jennifer Wenzel

Texas Retirement System

Limited Partner Advisory Committee

The Austin Housing Conservancy Fund is counseled by a five-member LPAC tasked with overseeing the valuation process—including the selection of valuation firms—and approving annual net asset value.


Management Team

Monica Medina


As President, Monica is responsible for growing the organization and increasing capacity to add properties to the portfolio. She brings 20 years of banking experience to Affordable Central Texas, having held various roles in Business Banking, Government and Institutional Banking and Commercial Banking across banks ranging from $5B in assets to $1.8T. Most recently, Monica served as Senior Vice President, Commercial Banking Team Leader for Broadway Bank, growing the loan and deposit portfolio by 430% in under 24 months. She has developed and executed national business development strategies for new banking divisions and has been responsible for growing and managing several hundred-million-dollar portfolios.. Monica has exemplified being a servant leader with roles on the Mission Capital Board, former chair of the Board for H.A.N.D (currently part of Meals on Wheels) and is a graduate of Leadership Austin. Monica’s business and community connections, and financial expertise bring a unique skill set to the organization to grow capacity and achieve the mission to preserve 5,000 units of affordable workforce housing over the next five years. Monica and her husband, Jose, met and graduated from Texas State University 20+ years ago, have called Central Texas home ever since, and are now raising four young children here.

Amy Barbee

Managing Director – Capital Raise

Amy Barbee brings to Affordable Central Texas nearly three decades of experience as the executive director of prominent nonprofits, including the Real Estate Council of Austin, the LBJ Foundation and the Texas Cultural Trust. As a 52-year Austin resident and with a decade of accumulated real estate experience, Amy is a staunch advocate for the people of Austin. She brings a network of local connections and an extensive background in revenue generation, fundraising, nonprofit management and operations to Affordable Central Texas. After briefly leaving Austin to work as a production coordinator in the film industry, she returned in the late 1980s when she could fully appreciate all the city has on offer. In the time since, she has raised twins and launched her career in executive management. She is a graduate of Northwestern University.

Kathy Denny

Managing Director – Real Estate

As Managing Director of Real Estate, Kathy is responsible for preserving the organizations mission while executing property specific investment strategies to enhance value and mitigate risk. Kathy brings 30 years of commercial real estate experience to Affordable Central Texas. Kathy’s background spans multiple product types including office, industrial and retail and includes acquisitions, land assemblage, investment sales and leasing. Kathy has a B.S. from Texas A & M University, College of Engineering. She is a licensed real estate broker and a member of The Real Estate Council of Austin. Kathy also recognizes the personal fulfillment achieved when integrating community service into her work - life balance. Kathy has served on the boards of Nexus Recovery Center and The Real Estate Council of Dallas. Kathy is an active member of the World Affairs Council of Austin and is currently mentoring Afghan Refugees.

Missy Saez

Asset Manager – Real Estate

Missy Saez brings over a decade of comprehensive experience in the real estate industry, showcasing her expertise in asset management and property operations. For the past seven years, she held the position of Regional Asset Manager at LDG Development LLC, where she successfully oversaw diverse developments across the Southwest and Midwest regions. Missy's journey in the real estate sector began with a solid foundation in property management operations. With 15 years of hands-on experience in owner- and fee-managed properties, she has navigated various facets of the industry. Starting her career as a leasing agent, Missy's trajectory has included managing a wide spectrum of multi-family properties. Her portfolio spans conventional and affordable housing, lease-up and renovation projects, and diverse property styles such as garden, mid-rise, and more. She holds the National Apartment Association (NAA) designations of CAM (Certified Apartment Manager) and CAPS (Certified Apartment Portfolio Supervisor). Additionally, she is on the cusp of achieving her CPM (Certified Property Manager) designation from the Institute of Real Estate Management (IREM).

Beverly Grass, CPA

Vice President of Finance – Real Estate

Beverly Grass adds 30 years of accounting experience to Affordable Central Texas. She held various accounting positions at the Teacher Retirement System of Texas (TRS) including investment fund accounting for Real Assets, Private Equity, Hedge Fund and External Public Market portfolios. In addition, she has been responsible for accounting work for several nonprofits. Beverly has earned her CPA, received the CFA Investment Foundation Certificate and the Claritas Investment Certificate in addition to a BS in Accounting from Liberty University graduating Cum Laude. She and her husband are long-time residents of Central Texas.

David Steinwedell​

FOunder and Board Chairman

A 34-year veteran in real estate and investment and an 11-year Austinite, David Steinwedell applies the best practices of private equity and asset management to the city’s moderate- and middle-income affordability challenges. David has worked at fund advisers, REITs and real estate investment banks, and has led teams in acquisitions, asset management, and debt and property management. He has been involved in over $15 billion in financial transactions across several REITs and high-net-worth investment funds, and was the executive director of the Urban Land Institute-Austin for four years until transitioning full time to his current role as president and CEO of Affordable Central Texas. His experience across all property types and various investment vehicles provides the background to make flexible investments and create innovative transaction structures to address Austin’s rapidly changing marketplace. David is a graduate of Hamilton College and has served on the boards of NAREIM, ULI - Austin and Atlanta, and the Tritt Foundation. He and his wife, Patty, reside in Austin and have three grown children.


Justin Parker Headshot

Justin Parker

Austin Community College / University of Connecticut

Jack South headshot

Jack South

University of Texas - McCombs School

Zahria Touchstone headshot

Zahria Touchstone

Huston Tillotson

Angelica Bravo

Huston Tillotson

Dylan Nguyễn

Rice University

Anna Lazenby

Anna Lazenby

University of Texas

Penny Snyder

LBJ School of Public Affairs

The Fund

Affordable Central Texas would like to thank the following organizations for their charitable support of our mission.