Tisha Vaidya is a principal and co-owner of Elizabeth Property Group, an affordable housing firm with about 3,000 units and counting.
She formed the Dallas-based business with Moira Concannon in 2020, making it a 100% woman-owned affordable housing developer and owner.
In its first five years, Vaidya and the firm have made their presence known in the industry, completing complex 4% low-income housing tax credit and tax-exempt bond deals and acquiring general partner interests and portfolios.
“For us, it’s the belief that everyone deserves high-quality housing no matter where you are, where you live, or how much money you make,” she says. “Everyone deserves the same dignity and respect and to feel they can come home to a safe, comfortable place.”
Vaidya’s earlier experience was in market rate housing. She served as vice president of acquisitions/development and capital markets at Presidium, where she was responsible for the development pipeline and sourcing the full capital stack for deals in the Dallas-Fort Worth market.
While participating in Leadership Dallas—a program that brings executives together to learn about regional challenges and drive change—Vaidya, 38, visited a homeless shelter, an experience that deepened her understanding of how essential housing is to people’s lives.
Vaidya and Concannon, friends from graduate school, joined forces to launch Elizabeth Property Group to focus on affordable housing. “I think of it as a double bottom line,” Vaidya says. “… We’re adding net positive housing opportunities for people that may not otherwise have those opportunities. That feels really good, and it’s something that keeps me going.”
While continuing to pursue acquisition opportunities, Elizabeth Property Group is working on its first ground-up new construction property in Bastrop, Texas. The firm is also interested in expanding into other states but is taking a measured approach, according to Vaidya.