Dominium to Develop Dallas Affordable BTR Project
This marks the company’s first development of its kind in Texas.
Dominium will develop Terrell Family Apartments, a 350-unit affordable BTR project in Terrell, Texas, marking the company’s first such project in the Lone Star State.
The team includes general contractor WD Construction and architect Kimley Horn. Completion is expected in 2029.
Associated Bank and Great Southern Bank provided $58.2 million in construction financing for the 4 percent LIHTC project. Terrell Housing Finance Corp. issued $64.4 million in tax-exempt bonds, arranged by Colliers. PNC Bank provided equity and originated both tax-exempt and taxable Freddie Mac loans, as well as a bridge loan, according to a Terrell HFC meeting held in July.
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Additional partners included Texas Bond Review, Texas Department of Housing and Community Affairs, City of Terrell, Winthrop & Weinstine, Todd & Associates, UMD Bank, Commercial Partners Title and Tiber Hudson.
Terrell Family Apartments will feature two-, three- and four-bedroom townhomes, reserved for future tenants earning up to 60 percent of the area median income. Amenities are set to feature a clubhouse, gym, swimming pool, outdoor gathering spaces, playgrounds and a private school bus shelter. Weekly tutoring services will also be available.
Located on 30 acres along Rose Hill Road, the site is roughly halfway between Interstate 20 and U.S. Route 80. Downtown Dallas is more than 32 miles west.
LIHTC BTR projects continue to take off
Dominium is no stranger to developing affordable BTR projects, as the company has already kicked off work on two such LIHTC developments in Arizona. Last year, Dominium broke ground on Saddleback Village at Stonegate, a 215-unit project in Maricopa, Ariz., and Townhomes on Earley, a 278-unit development in Casa Grande, Ariz.
The Valley of the Sun presented affordable BTR opportunities for other developers as well. In 2024, Lincoln Avenue Communities and WNC & Associates commenced construction on The Ranches at Gunsmoke. The 271-unit community debuted this year.
