NRP Group Breaks Ground on Partially Affordable Community in Dallas
Located near downtown, the property is slated for completion in September 2024.
The NRP Group has broken ground on a 324-unit mixed-income property. The community, the Ascent at Mountain Creek, is located 15 minutes outside of downtown Dallas.
Half of the homes in Ascent at Mountain Creek will be set aside for potential residents earning 80 percent or less of the area median income. Apartments will include one-, two- and three-bedroom layouts within 14 three-story buildings. Den floor plans with one- and two-bedroom units will also be available to cater to remote work needs.
Amenities are set to feature a pool, fitness center, lounge with remote working spaces and dog park. Individual homes will have walk-in closets.
Situated at 4868 S. Merrifield Road, at the intersection of Highway 408 and Interstate 20, residents at the Ascent at Mountain Creek are within 10 miles of the Mountain Creek Lake. Outdoor space nearby includes hiking and biking trails in hill and forest sceneries.
Retail, dining and entertainment options are in close proximity in downtown Dallas as are health care and grocery spots. Home Depot, Epic Waters Waterpark, Target, Grand Oaks Golf Club and the Methodist Charlton Medical Center are some of the offerings within a 10-minute drive of the community.
Employment opportunities nearby include Nestle, Chewy and Ulta Beauty, among other employers situated in the Mountain Creek Business Park.
Construction is anticipated to be completed in September 2024, with preleasing starting in October of this year.
Affordability crisis in Texas
A report by the National Low Income Housing Coalition last year stated that Texas was in the top six states with the lowest availability of rental housing options for low-income families. According to the study, there were only 29 affordable home options per 100 very low-income renter households.
In an effort to combat the crisis, the NRP Group has been seen breaking ground on partial and fully affordable multifamily communities throughout Texas. Late last year, the company also kicked off the Bridge at Estancia, another affordable community in Texas. Situated in Austin, the property is a $70 million project featuring 318 fully affordable homes.