National CORE Expands Texas Footprint with Diamond Hill Acquisition

Fort Worth, Texas – National CORE proudly announces the acquisition of The Residences at Diamond Hill, a 204-apartment community serving low-income residents in Fort Worth, Texas.

Acquired in July, Diamond Hill is a 40-building garden style community offering two-, three- and four-bedroom apartment homes, with 121 units serving residents earning less than 60% of the area median income (AMI). Apartments feature open-concept designs and state-of-the-art kitchens.

The community boasts a technology center, pool, children’s play area, picnic and barbecue areas and a fitness center. Residents also benefit from free after-school and summer programs.

The property joins five others in National CORE’s Texas portfolio, bringing the nonprofit’s ownership in the state to 971 apartments – approximately 9% of the 10,000-plus apartments it owns and operates in more than 100 developments across the United States.

The purchase was financed, in part, by National CORE’s innovative use of $100 million in social bond funds, generated after the nonprofit secured an A+ credit rating from Standard & Poor’s Global Ratings in 2021.

The S&P rating, most recently affirmed in 2024, enabled National CORE to develop a new revenue stream that has transformed its approach to acquiring, developing, and rehabilitating affordable housing.

“This is an incredibly exciting moment for National CORE,” National CORE President Michael Ruane said. “Diamond Hill is a beautiful development that will benefit from our more than two decades of experience operating affordable housing communities in Texas.”

National CORE, based in Southern California, is a vertically integrated nonprofit founded in 1992 and recognized with more than 200 awards for its innovative approaches to addressing the housing crisis in our nation.

The company had been seeking an opportunity to expand its portfolio in the Dallas-Fort Worth region. National CORE owns and manages three properties near Houston, one in Angleton and one in San Antonio.

In addition to stable and secure homes, residents of the properties enjoy a rich array of resident services provided by the Hope through Housing Foundation, National CORE’s partner in transforming lives and communities.

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About National CORE

National CORE is one of the largest nonprofit developers in the nation, with a more than 30-year history of being an innovator in the field. In 2021 National CORE became one of only two affordable housing developers to earn an A+ credit rating from Standard & Poor’s Global Ratings. In 2022, National CORE issued $100 million in Series 2022 Social Bonds to accelerate the development of critically needed affordable housing. Serving more than 25,000 residents, National CORE strives to be a launching pad, not a landing pad, for families struggling financially. In 1998, National CORE created the Hope through Housing Foundation, a philanthropic nonprofit, whose mission is to end the cycle of generational poverty through resident services that promote educational attainment, economic mobility and overall well-being.

About Hope through Housing Foundation

Hope through Housing believes that affordable housing can be a platform for transformational change at the individual and neighborhood level. For more than 25 years, the Hope through Housing Foundation has provided more than 2 million hours of transformational social services helping children and teens achieve success, improving families’ financial well-being, and promoting seniors’ health and wellness. For more information on Hope through Housing, please visit www.hthf.org.

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