Dominium Celebrates the Grand Opening of Timbers at Hickory Tree

Property News

The housing developer recently commemorated the opening of its newly constructed Balch Springs, Texas apartment community

Dominium, a leading affordable housing owner, developer and manager, recently celebrated the grand opening of its newest affordable housing community, Timbers at Hickory Tree in Balch Springs, Texas. Video footage of the June 23 event can be found here and photos can be found here.

The grand opening featured a ribbon-cutting and a short presentation with speakers including Dominium Vice President & Project Partner Jeff Spicer, Mayor of Balch Springs Carrie F. Gordon, City Manager of Balch Springs Susan Cluse and Former City Council Member of Balch Springs Charlene Rushing.

The 216-unit development, located at 3401 Hickory Tree Road, is Dominium’s second new construction project in the state of Texas. The seven three-story apartment buildings feature one-, two- and three-bedroom homes. Community amenities include a large clubhouse featuring a community room equipped with a fireplace and kitchen, fitness center, outdoor pool, two playground areas, and detached parking garage spaces. The property also has trail access to the adjacent Luedeke Park.

Spicer stated during the grand opening celebration, “We are excited to be bringing much-needed affordable housing to the Balch Springs community.” This property will provide quality homes to individuals and families earning no more than 60% of the area median income.

Financing partners include a Freddie Mac Forward Tax Exempt Loan serviced by Berkadia, a construction loan provided by TCF Bank, an equity bridge loan provided by Colliers, an equity investment from Alliant Capital and both an issue of tax-exempt bonds, as well as 4% Low-Income Housing Tax Credits. Dominium is grateful for the support it has received from these partners, the City of Balch Springs and many others.