DENTON, Texas--(BUSINESS WIRE)--Mar 24, 2026--
The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, in partnership with the Denton Housing Authority, today announced the financial closing and groundbreaking of Arbor Ranch, a 297-unit affordable housing community in Denton, Texas. The development will provide deeply affordable homes to families earning between 30% and 70% of the Area Median Income (AMI), expanding access to attainable housing in the rapidly growing Denton submarket.
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"This groundbreaking is a testament to the strong collaboration of our public and private sector partners who are all deeply committed to increasing available high-quality, affordable housing for the residents of Denton,” said Nick Walsh, Vice President of Development at The NRP Group. “We are building on our previous work in the community with the development of Arbor Ranch, our most modern, Class-A affordable product to date, placing residents close to employment centers, education and everyday amenities in one of the city’s most strategic locations.”
Located at 2820 Roselawn Drive just off Interstate 35, Arbor Ranch places residents within walking distance of Denia Park and its recreation center and the newly rebuilt Borman Elementary School. The development is also within short driving distance to downtown Denton, the University of North Texas and Texas Woman’s University. The property is approximately 30 minutes from downtown Fort Worth and 45 minutes from downtown Dallas, connecting residents to the broader Dallas-Fort Worth employment base. Nearby, the Eagle Creek master-planned residential community is taking shape, adding to the area’s growing residential infrastructure.
“As Denton continues to experience rapid growth, ensuring that we have diverse and attainable housing options at a range of income levels is critical to sustaining our economic momentum,” said Sherri McDade, CEO of the Denton Housing Authority. “By expanding housing availability near key employment hubs, we’re ensuring that Denton remains a competitive and thriving community for years to come.”
Designed to accommodate both working professionals and growing families, the development will feature a mix of one- through four-bedroom residences across nine three-story buildings on a 22-acre site. Residents of Arbor Ranch will have access to a full suite of amenities, including an outdoor pool, playground, barbecue and picnic areas, children’s activity room and community lounge. Onsite resident services, including after-school programming, will be provided to support families and promote long-term stability.
Truist Bank provided comprehensive financing for the project, including a $68 million construction loan, $48 million in permanent financing through its wholly owned subsidiary, Grandbridge Real Estate Capital, and a $33 million low-income housing tax credit equity investment. The permanent financing was secured through a forward rate lock under Freddie Mac’s Tax-Exempt Loan program, providing long-term rate stability for the project.
“Complex transactions like this require clear execution and tight coordination between our clients and our internal teams,” said Kathy Farrell, Head of Truist Asset Finance. “Securing financing certainty early was a critical step in positioning the development for long-term success. We’re proud to help bring high-quality, affordable housing to this growing part of North Texas.”
The Dallas-Fort Worth metro area remains a priority market for The NRP Group. The firm has developed nearly 7,000 units across more than 30 properties in the region, and recently celebrated the grand opening of Thrive on Crawford, an affordable housing community that opened in January.
Construction of Arbor Ranch is now underway with first units anticipated in early 2027.
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 68,000 apartment homes and currently manages over 33,000 residential units.
Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provide the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, mixed-income, and senior housing.
The NRP Group has been consistently named a largest developer and builder in the U.S. on the NMHC “Top 50” lists, the Top 5 on the Multi-Housing News’ “Top Multifamily Developers” list, named a Top Affordable Housing Developer by Affordable Housing Finance, and is a five-time recipient of NAHB’s Best Multifamily Development Firm of the Year award. The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on over 30 years of experience and expertise, NRP provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.
Photo Credit: The NRP Group (L-R) Vicki Byrd, District 1 Council Member; Nick Walsh, VP of Development at NRP; Joe Holland: District 4 Council Member; Birdia Johnson, Board Chair, Denton Housing Authority; Jesse Davis, Board of Commissioners, Denton Housing; Sherri McDade, Chief Executive Officer at Denton Housing Authority
WASHINGTON (AP) — Senators raced Tuesday to clinch an emerging proposal to end the Homeland Security shutdown by funding much of the department, including the Transportation Security Administration airport workers going without pay, but excluding ICE enforcement operations that have been core to the dispute.
The sudden sense of urgency comes as U.S. airports are snarled by long security lines, with travelers being told to arrive hours before their flights in Houston, Atlanta and Baltimore Washington International. Routine Homeland Security funding was halted in mid-February ahead of the busy spring travel season. Nearly 11% of TSA workers — more than 3,200 — missed work Monday, and at least 458 have have quit altogether since the shutdown began, according to DHS.
Democrats are refusing to fund the department without restraints on Trump’s immigration and deportation agenda after agents killed two citizens in Minneapolis.
A potential breakthrough came late Monday, after a group of Republican senators met at the White House with President Donald Trump after he had upturned talks and deployed federal immigration officers at some airport security checkpoints — a move some lawmakers warned could lead to heightened tensions.
Senate Majority Leader John Thune, R-S.D., called the discussions “positive and productive” and said most of DHS would be funded without big changes.
Senate Democratic Leader Chuck Schumer said Tuesday that after Trump's “temper tantrum” eased, it appears “things are getting back on track.”
Next steps in Congress could move quickly, if lawmakers can reach agreement, or sputter out just as fast.
The contours of the deal under consideration would fund most of Homeland Security, but not one main part of ICE — the enforcement and removal operations that are core to Trump's deportation agenda.
Under the proposal being floated, ICE's Homeland Security Investigations would be funded as well as Customs and Border Protection. But that would come with guardrails — keeping officers from those divisions in their traditional roles, rather than deploying them in urban immigration roundups.
The plan would also include a number of changes in immigration operations that Democrats have demanded, including mandating that officers wear body cameras and identification. While the ICE officers manning airports are going without face-covering masks, the Democratic demand that they go unmasked during immigration operations does not appear to be part of the deal.
Since so much of ICE is already funded through Trump's big tax breaks bill, and immigration officers are still receiving paychecks despite the shutdown, both sides are claiming political wins — the Democrats are able to say they stopped the flow of additional ICE funds while achieving already agreed upon changes, while Republicans can claim they prevented more significant restraints on immigation operations.
Republican Sen. Katie Britt of Alabama, a chief negotiator, returned from the White House meeting hopeful they had a solution to “land this plane.”
Both chambers of Congress are controlled by the Republican president's party, and any deal reached in the Senate would also have to be approved by the House.
Key to the standoff appears to have been the senators' ability to shift the president's attention off his plan to link any department funding to his push to pass the so-called SAVE America Act, a strict proof-of-citizenship and voter ID bill that has stalled in the Senate ahead of the midterm elections.
Over the weekend Trump injected his demand for the voting bill as a condition for ending the funding standoff. Some GOP senators have pitched the idea of tackling it in the months ahead as part of a broader legislative package the party could pass on its own, similar to last year's big tax cuts bill.
The White House on Tuesday stressed that conversations were ongoing. But it also said an agreement to split off immigration enforcement funding, while addressing Trump’s elections bill separately, “seems to be acceptable.”
Sen. Chris Coons, D-Del., who was not part of the group at the White House, said his understanding was that there was a “sense of urgency” coming from the talks as the airport disruptions worsen.
Senators are expected to discuss the proposals during their private caucus lunches Tuesday afternoon.
“First step is to get the proposal in writing,” said Sen. Angus King, an Independent from Maine. “I want to see exactly what that means.”
The deal could provide a political exit from the standoff over the embattled Homeland Security department, which was stood up in the aftermath of the Sept. 11, 2001 attacks but has come to symbolize Trump’s aggressive mass deportation agenda, with its goal of removing 1 million immigrants this year.
Under mounting political pressure, Trump ousted Homeland Security secretary Kristi Noem amid the public outcry over the immigration operations, and senators late Monday confirmed one of their own, Markwayne Mullin, as the president's handpicked replacement.
Mullin, an Oklahoma senator who aligns with Trump's agenda, provides a potentially new face for the department. During his confirmation hearing, Mullin touched on another key demand of Democrats — ensuring a judge has signed off on warrants that immigration officers use to search people's homes, rather than simply relying on administrative warrants issued by the department.
“This is significant,” Sen. Peter Welch, D-Vt., said about the progress toward changes. "Noem is gone. That’s a big deal.”
ICE’s budget grew under last year’s bill by $75 billion, which has been untouched by the shutdown. Rather its routine annual funding, some $10 billion, would be cut almost in half under the proposal.
After weeks of missed paychecks, many TSA agents have called in sick or even quit their jobs as financial strains pile up. Union leaders representing the workers have pushed Congress to reach a deal.
Associated Press writers Rio Yamat, Wyatte Grantham-Philips, Kevin Freking and Seung Min Kim contributed to this report.
People wait in a TSA line at the Hartsfield-Jackson Atlanta International Airport, Monday, March 23, 2026, in Atlanta. (AP Photo/Mike Stewart)
Senate Majority Leader John Thune, R-S.D., talks to reporters about a funding bill to end the shutdown of the Department of Homeland Security shutdown that began more than a month ago, at the Capitol in Washington, Monday, March 23, 2026. (AP Photo/J. Scott Applewhite)
