Dominium Announces the Acquisition of Land for New Affordable Housing Community in Manor, Texas

Nov 18, 2024 Property News

Hidden Earth Apartments will add 324 affordable apartment homes to the Austin metro

Dominium, a leading national affordable housing owner, developer and manager, announced today the acquisition of land with plans to construct a new affordable housing community in Manor, Texas. Located at 12100 Tower Road, Hidden Earth will be Dominium’s sixth new construction project in the state of Texas.

Construction of Hidden Earth will be completed by WD Construction. Once constructed, Hidden Earth will offer 324 high-quality, affordable homes in the Austin metropolitan region. Residents will enjoy access to amenities including a clubhouse, fitness center, business center, pool with outdoor amenity space and a free on-site tutoring service, tailored to resident needs. The resident homes will also contain in-unit washers and dryers, granite countertops, luxury vinyl plank flooring and stainless-steel appliance packages.

Construction of Hidden Earth 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 by increasing the supply of affordable housing.

Dominium would like to thank its development partners, including Freddie Mac, JLL Real Estate Capital, Stifel, Nicolaus & Company, Associated Bank, Great Southern Bank, Bremer Bank, Colliers Securities LLC, RBC Capital Markets, Texas Department of Housing and Community Affairs, Texas Bond Review Board, Manor Housing Public Facility Corporation, the City of Manor, Winthrop & Weinstine, BKV Group, Kimley-Horn and Associates Inc., Braun Intertec Corporation, Commercial Partners Title, Jackson Walker LLP, and Bickerstaff Heath Delgado Acosta LLP.