NRP Group, Denton Housing Authority Launch 297-Unit Project
The NRP Group, a vertically integrated developer, builder, and manager of multifamily communities, has partnered with the Denton Housing Authority to officially close financing and break ground on Arbor Ranch, a new 297-unit affordable housing development in Denton. This project represents a major step forward in expanding access to high-quality, attainable housing in one of North Texas’s fastest-growing regions.
Arbor Ranch is designed to serve families earning between 30% and 70% of the Area Median Income (AMI), addressing a critical need for affordable housing options in the area. As Denton continues to experience rapid population and economic growth, developments like Arbor Ranch are essential to ensuring that housing supply keeps pace with demand, particularly for lower- and middle-income households.
According to Nick Walsh, Vice President of Development at The NRP Group, the groundbreaking reflects a strong collaboration between public and private stakeholders who share a common goal of increasing the availability of affordable housing. He emphasized that Arbor Ranch builds upon the company’s previous work in the Denton community and introduces its most modern Class-A affordable housing product to date. The development is strategically located to provide residents with convenient access to employment centers, educational institutions, and essential daily amenities.
The site for Arbor Ranch is located at 2820 Roselawn Drive, just off Interstate 35, placing it in a highly accessible and well-connected area. Residents will benefit from proximity to local recreational and educational facilities, including Denia Park and the newly rebuilt Borman Elementary School, both within walking distance. The development also offers easy access to downtown Denton, as well as major higher education institutions such as University of North Texas and Texas Woman’s University.
In addition to its local advantages, Arbor Ranch provides connectivity to the broader Dallas–Fort Worth region. The property is approximately 30 minutes from downtown Fort Worth and 45 minutes from downtown Dallas, allowing residents to tap into a wide range of employment opportunities across the metroplex. Nearby, the Eagle Creek master-planned community is also under development, further enhancing the area’s residential infrastructure and long-term growth potential.
Sherri McDade, CEO of the Denton Housing Authority, highlighted the importance of maintaining a diverse housing ecosystem as the city grows. She noted that ensuring access to housing across a range of income levels is vital to sustaining Denton’s economic momentum and competitiveness. By expanding housing options near key employment hubs, the city aims to support both workforce stability and long-term community development.
Arbor Ranch has been thoughtfully designed to accommodate a wide range of residents, from working professionals to growing families. The community will feature a mix of one-, two-, three-, and four-bedroom apartment homes spread across nine three-story buildings on a 22-acre site. This variety of unit types ensures flexibility and inclusivity, catering to households of different sizes and needs.
Beyond the residential units, the development will offer a comprehensive suite of amenities aimed at enhancing quality of life. Residents will have access to an outdoor swimming pool, a playground, barbecue and picnic areas, a children’s activity room, and a community lounge. These shared spaces are intended to foster a sense of community while providing opportunities for recreation and social interaction.
A key component of the Arbor Ranch project is its focus on resident support services. Onsite programs, including after-school activities, will be made available to help families achieve greater stability and success. These services are particularly important in affordable housing communities, as they provide additional resources that go beyond basic shelter, contributing to improved long-term outcomes for residents.
Financing for the project was led by Truist Bank, which played a central role in structuring a comprehensive funding package. This includes a $68 million construction loan, $48 million in permanent financing through its subsidiary, Grandbridge Real Estate Capital, and a $33 million equity investment through low-income housing tax credits. The permanent financing was secured through a forward rate lock under Freddie Mac’s Tax-Exempt Loan program, ensuring long-term financial stability for the development.
Kathy Farrell, Head of Truist Asset Finance, noted that complex transactions like Arbor Ranch require careful coordination and precise execution. She emphasized that securing financing certainty early in the process was crucial to positioning the project for long-term success. The collaboration between financial partners and developers has enabled the project to move forward efficiently, ultimately bringing much-needed affordable housing to the region.
The Dallas–Fort Worth metro area continues to be a key focus for The NRP Group. The company has already developed nearly 7,000 housing units across more than 30 properties in the region, demonstrating its strong commitment to addressing housing needs in North Texas. Earlier this year, the firm celebrated the opening of Thrive on Crawford, another affordable housing community that further underscores its ongoing investment in the area.
Overall, the Arbor Ranch development represents a significant milestone in Denton’s efforts to expand affordable housing options. By combining strategic location, modern design, supportive services, and strong financial backing, the project is poised to make a lasting impact on the community. As construction moves forward, Arbor Ranch will play a vital role in ensuring that Denton remains an inclusive, accessible, and economically vibrant city for years to come.
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