The NRP Group, Denton Housing Authority Break Ground on 297-Unit Affordable Housing Community in Denton

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DENTON, Texas--(BUSINESS WIRE)--Mar 24, 2026--

The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, in partnership with the Denton Housing Authority, today announced the financial closing and groundbreaking of Arbor Ranch, a 297-unit affordable housing community in Denton, Texas. The development will provide deeply affordable homes to families earning between 30% and 70% of the Area Median Income (AMI), expanding access to attainable housing in the rapidly growing Denton submarket.

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Photo Credit: The NRP Group (L-R) Vicki Byrd, District 1 Council Member; Nick Walsh, VP of Development at NRP; Joe Holland: District 4 Council Member; Birdia Johnson, Board Chair, Denton Housing Authority; Jesse Davis, Board of Commissioners, Denton Housing; Sherri McDade, Chief Executive Officer at Denton Housing Authority

"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.”

Located at 2820 Roselawn Drive just off Interstate 35, Arbor Ranch places residents within walking distance of Denia Park and its recreation center and the newly rebuilt Borman Elementary School. The development is also within short driving distance to downtown Denton, the University of North Texas and Texas Woman’s University. The property is approximately 30 minutes from downtown Fort Worth and 45 minutes from downtown Dallas, connecting residents to the broader Dallas-Fort Worth employment base. Nearby, the Eagle Creek master-planned residential community is taking shape, adding to the area’s growing residential infrastructure.

“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.”

Designed to accommodate both working professionals and growing families, the development 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.

Truist Bank provided comprehensive 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. The permanent financing was secured through a forward rate lock under Freddie Mac’s Tax-Exempt Loan program, providing long-term rate stability for the project.

“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 Dallas-Fort Worth metro area remains a priority market for The NRP Group. The firm has developed nearly 7,000 units across more than 30 properties in the region, and recently celebrated the grand opening of Thrive on Crawford, an affordable housing community that opened in January.

Construction of Arbor Ranch is now underway with first units anticipated in early 2027.

About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 68,000 apartment homes and currently manages over 33,000 residential units.

Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provide the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, mixed-income, and senior housing.

The NRP Group has been consistently named a largest developer and builder in the U.S. on the NMHC “Top 50” lists, the Top 5 on the Multi-Housing News’ “Top Multifamily Developers” list, named a Top Affordable Housing Developer by Affordable Housing Finance, and is a five-time recipient of NAHB’s Best Multifamily Development Firm of the Year award. The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on over 30 years of experience and expertise, NRP provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.

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KEYWORD: TEXAS UNITED STATES NORTH AMERICA

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SOURCE: The NRP Group

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PUB: 03/24/2026 01:29 PM/DISC: 03/24/2026 01:29 PM

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