NRP Starts Work on 297-Unit Denton Affordable Housing Venture
The NRP Group, in partnership with the Denton Housing Authority, started work on Arbor Ranch, a 297-unit affordable housing community in Denton, Texas. The development will provide homes to families earning between 30% and 70% of the Area Median Income (AMI).
Truist Bank provided financing for the project, including a $68 million construction loan, $48 million in permanent financing through its wholly owned subsidiary, Grandbridge Real Estate Capital, and a $33 million low-income housing tax credit equity investment.
Located at 2820 Roselawn Drive just off Interstate 35, Arbor Ranch will feature a mix of one- through four-bedroom residences across nine three-story buildings on a 22-acre site. Residents of Arbor Ranch will have access to a full suite of amenities, including an outdoor pool, playground, barbecue and picnic areas, children’s activity room and community lounge. Onsite resident services, including after-school programming, will be provided to support families and promote long-term stability.
Construction of Arbor Ranch is now underway with first units anticipated in early 2027.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout