Dominium, a leading national affordable housing owner, developer and manager, announced the acquisition of land with plans to construct a new affordable housing community, Hidden Earth, in Manor, 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.
Founded in 1972, Dominium is a purpose-driven leader in affordable housing, dedicated to addressing the nation’s housing crisis through lasting and impactful solutions. With offices in Atlanta, Dallas, Phoenix, and Minneapolis, Dominium owns, develops, and manages more than 40,000 apartment homes in more than 220 communities nationwide. The company is committed to building enduring value through high-quality, affordable housing that strengthens communities, supports residents and serves the needs of our financial partners. Beyond housing, Dominium extends its impact through pro bono development services, charitable contributions, post-secondary scholarships, internships, and volunteer efforts in the communities where we live and work.
