Dallas can’t afford to lose all its older, cheaper apartments
Published on March 23, 2026.
The Declan, Estancia Estates and Villas del Tesoro complexes in Dallas, Texas, were built between 1964 and 1984 and are expected to become "naturally occurring affordable housing" as they age, with their rents expected to decrease as new multifamily developments are built. However, these apartments are now in receivership due to ongoing legal disputes and a lien against the owners for nearly $222,000 in unpaid water, storm water and sewer charges, and creditors allege the owners failed to pay nearly $269,000 of property taxes. The issue is particularly concerning as these properties are now owned by Jon P. Venetos, founder of a real estate investment company called Lurin, who owns 46 apartment complexes across several states. The Child Poverty Action Lab estimated that Dallas is short of approximately 46,000 affordable rental housing, with estimates that it is more efficient to maintain existing rental units than to build new ones.
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