Dominium, a leading national affordable housing owner, developer and manager, announced today the acquisition of land for Terrell Family Apartments, a new affordable housing community in Terrell, Texas. Located on Rose Hill Road, the development will bring 250 high-quality, affordable townhomes to families in the Dallas-Fort Worth metro area.
Terrell Family Apartments is Dominium’s first new construction townhome development in Texas. It will offer two-, three- and four-bedroom homes with modern amenities, bringing another much-needed affordable housing option for families in the growing Terrell community.
The development is made possible through the Section 42 Low-Income Housing Tax Credit (LIHTC) program. Nationwide, LIHTC is the primary resource supporting the construction and long-term preservation of affordable housing. In exchange for these tax credits, developers commit to maintaining rents at levels tied to the Area Median Income (AMI), helping ensure long-term affordability. LIHTC developments like Terrell Family Apartments help strengthen local housing marks by expanding the supply of quality homes at attainable rents.
Dominium extends its appreciation its appreciation to its development partners including Freddie Mac, PNC, BlackRock, RBC, Associated Bank, Great Southern Bank, Texas Bond Review, Terrell Housing Finance Corporation, Texas Department of Housing and Community Affairs, City of Terrell, Winthrop & Weinstine, Todd & Associates, UMD Bank, WD Construction, Kimley Horn, Commercial Partners Title, Tiber Hudson and Colliers for their continued commitment to providing high-quality affordable housing, and ongoing partnership with Dominium.
Founded in 1972, Dominium is a purpose-driven leader in affordable housing, dedicated to addressing the nation’s housing crisis through lasting and impactful solutions. With offices in Atlanta, Dallas, Phoenix, and Minneapolis, Dominium owns, develops, and manages more than 40,000 apartment homes in more than 220 communities nationwide. The company is committed to building enduring value through high-quality, affordable housing that strengthens communities, supports residents and serves the needs of our financial partners. Beyond housing, Dominium extends its impact through pro bono development services, charitable contributions, post-secondary scholarships, internships, and volunteer efforts in the communities where we live and work.
