Dominium, a leading affordable housing owner, developer and manager announced that it will celebrate the grand re-opening of Rosemont at Mayfield Villas affordable housing development in Arlington, Texas.
Resident homes also received HVAC upgrades, updated kitchen cabinets, countertops, bathroom vanity cabinets, and plumbing fixtures. Rosemont at Mayfield Villas is a garden style community that includes a clubhouse and 16 residential buildings, consisting of 72 two-bedroom and 208 three-bedroom high-quality affordable homes.
Rosemont at Mayfield Villas is 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.
“Rosemont at Mayfield Villas has been a long time coming, and we are excited to finally re-open it to provide assistance to this community,” said Jeff Spicer, Dominium Senior VP and Project Partner. “Providing high-quality quality homes to those in need is our humble commitment. Everyone deserves a place to live.”
Dominium would like to thank its finance and development partners, including Merchants Capital Corp., Merchants Bank of Indiana, Hilltop Securities, Arlington Housing Finance (AHFC), Texas Department of Housing and Community Affairs (TDHCA), Commercial Partners Title, Dominium Construction and Architectural Services, LJA Engineering, Braun Intertec, Colliers International, and Winthrop & Weinstine. Dominium would like to thank all these partners for their assistance on this project, continued commitment to providing high quality affordable housing, and ongoing partnership with Dominium.
