Arizona Tribune - J19 to Add 1,000 Starter Homes From $99,900 to Texas and Tennessee Markets Through Condo Conversions

AUSTIN, TX / ACCESS Newswire / September 9, 2026 / J19 Investments, an Austin-based alternative investment firm for high-net-worth and institutional investors, today announced its plan to produce 1,000 entry-level homeownership units across Texas and Tennessee through apartment-to-condominium conversions. The initiative takes advantage of both states' favorable regulatory landscape and a unique seller-financing model to help make first-time home ownership accessible again.

J19 has five multi-unit projects already in development: three in McAllen and one in Corpus Christi, Texas, plus another in Nashville, Tennessee. All 1,000 units are expected to reach the market within the next 12 months. Unit prices will range between $99,900 and $137,000 to fall within roughly one to two times the median annual household income in each market, far below the national median at five times annual household income.

In addition to providing lower-cost housing options, J19 is offering a unique seller-financing model to make homeownership accessible to potential first-time buyers who do not qualify for conventional mortgages due to short credit records or nonstandard income streams. The model prioritizes a comprehensive underwriting of buyers' real-world financial situation over traditional credit documentation, and then allows them to accumulate equity on a schedule through payments that match their actual rather than reported income.

J19 believes that the project exemplifies how an innovative product can help to address the national homeownership crisis without the need for government subsidies. Freddie Mac's most recent comprehensive estimate put the nationwide housing shortage at about 3.7 million housing units as of Q3 2024, up nearly 50% since 2018. The same report estimates the shortage has suppressed the formation of 1 million households as affordability strain pushes younger buyers to delay independent living.

The viability of the project is thanks in large part to the pro-development regulatory landscapes of Texas and Tennessee. The Texas Legislature passed a number of bipartisan housing bills in 2025 to ease lot size requirements and other bureaucratic barriers that hinder affordable development. Tennessee has adopted a similar strategy, authorizing municipalities to increase density allowances and expedite permitting for developers building income-restricted units. Without such a pro-development approach to regulation, innovative solutions like J19's condo conversion project likely could not succeed.

"Homeownership is how people build wealth in this country," said Michael Oberrender, Managing Partner at J19. "Buying your first property is the first rung on the ladder. And yet we have a surplus of hard-working people who are eager to start a real household but who can't, because a house costs five times their income and they don't fit the FHA mold. We believe there's a better way, and we're putting out 1,000 units to prove it."

About J19 Investments

J19 Investments is an Austin, Texas-based institutional fund manager specializing in small- to middle-market real estate and real estate-adjacent alternative investments. The firm's principals have a combined track record including more than $10 billion in transactions and experience managing over 43,500 multifamily units across 20-plus U.S. markets. J19 provides high-net-worth individuals, family offices, financial advisors, and institutional partners access to exclusive investment vehicles with a focus on cash flow, tax-advantaged structures, and transparent reporting.

Contact:
Michael Oberrender
512.497.0797
[email protected]

SOURCE: J19 Investments

View the original press release on ACCESS Newswire

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