The NRP Group and Denton Housing Authority Break Ground on Two Hundred Ninety Seven Unit Arbor Ranch Affordable Community in Denton Texas

The NRP Group, in partnership with the Denton Housing Authority, has closed financing and broken ground on Arbor Ranch, a 297-unit affordable housing community at 2820 Roselawn Drive in Denton, Texas. The development will serve households earning between 30 percent and 70 percent of Area Median Income, aiming to expand attainable housing options in a rapidly growing Denton submarket.

"This groundbreaking is a testament to the strong collaboration of our public and private sector partners who are all deeply committed to increasing available high-quality, affordable housing for the residents of Denton, said Nick Walsh, Vice President of Development at The NRP Group. We are building on our previous work in the community with the development of Arbor Ranch, our most modern, Class-A affordable product to date, placing residents close to employment centers, education and everyday amenities in one of the city s most strategic locations.

Arbor Ranch sits just off Interstate 35, within walking distance of Denia Park and its recreation center and the newly rebuilt Borman Elementary School. The site offers direct access to downtown Denton, the University of North Texas and Texas Woman s University, and is roughly 30 minutes from downtown Fort Worth and 45 minutes from downtown Dallas. The property occupies a 22-acre parcel and will include nine three-story buildings with a mix of one- through four-bedroom homes.

"As Denton continues to experience rapid growth, ensuring that we have diverse and attainable housing options at a range of income levels is critical to sustaining our economic momentum, said Sherri McDade, CEO of the Denton Housing Authority. By expanding housing availability near key employment hubs, we re ensuring that Denton remains a competitive and thriving community for years to come.

Resident amenities will include an outdoor pool, playground, barbecue and picnic areas, a children s activity room and a community lounge. Onsite resident services, including after-school programming, will be offered to support families and promote long-term stability.

Truist Bank structured comprehensive financing for the project, providing a $68 million construction loan, $48 million in permanent financing through Grandbridge Real Estate Capital, and a $33 million low-income housing tax credit equity investment. The permanent financing was secured through a forward rate lock under Freddie Mac s Tax-Exempt Loan program to provide long-term rate stability.

" Complex transactions like this require clear execution and tight coordination between our clients and our internal teams, said Kathy Farrell, Head of Truist Asset Finance. Securing financing certainty early was a critical step in positioning the development for long-term success. We re proud to help bring high-quality, affordable housing to this growing part of North Texas."

The NRP Group has a substantial presence in the Dallas Fort Worth market, with nearly 7,000 units across more than 30 properties and the recent opening of Thrive on Crawford earlier this year. Construction at Arbor Ranch is now underway, with first units expected in early 2027.