Dominium Acquires Land for Matlock Flats, Plans to Develop 192 New Affordable Apartment Homes in the Dallas-Fort Worth Metroplex

Property News

This acquisition marks the developer’s fifth new construction project in the state of Texas

Dominium, a leading affordable housing owner, developer and manager announced today that it has closed on a deal to acquire land for the development of a new community of affordable apartment homes.

Matlock Flats is located at the intersection of Matlock Road and Eden Road in Arlington, Texas. Dominium plans to use the land to construct an $80 million development of a new high-quality housing community for low-income families in the Dallas-Fort Worth metroplex. Once constructed, Matlock Flats will provide 192 apartment homes in total. The project will be constructed by WD construction.

Construction of Matlock Flats will be supported by the Section 42 Low-Income Housing Tax Credit program (LIHTC). Nationwide, LIHTC is the largest source of support for the construction and maintenance of affordable housing communities. In exchange for tax credits, affordable housing developers and operators agree to maintain rents at levels tied to the Area Median Income (AMI). Construction of LIHTC properties has a positive effect on the local housing market through the simple fact of increasing the supply of affordable housing.

Dominium would like to thank its development partners JLL Real Estate Capital, Colliers Securities, The Huntington National Bank, Comerica Bank and The Huntington Community Development Corporation, as well as the Texas Department of Housing and Community Affairs, the Texas Bond Review Board and Arlington Housing Finance Corporation whose assistance made this project possible.