Half of the property’s 322 units will transition from market-rate rents to be restricted at levels affordable for renters making less than 80% of the area’s median income, which is currently $54,550 for one person in Dallas and $62,350 for a two-person household. (Liesbeth Powers / Staff Photographer)This is the first time the city has acquired a market-rate property through one of its corporations to convert into income-restricted apartments, said Kyle Hines, assistant director of the Department of Housing and Neighborhood Revitalization and general manager of the Dallas Housing Finance Corp. Acquisition costs total almost $83 million, according to a Sept. 14 City Council agenda item , and will be funded by housing bonds issued by the city. Through the city's deal, the typical resident at The Briscoe Apartments will save $250 each month or $3,000 per year on rent.