Dominium has announced plans to develop Matlock Flats, a 192-unit affordable multifamily community in Arlington, Texas. WD Construction – a joint venture between Weis Builders and Dominium’s construction branch – will serve as the general contractor for the $80 million project. Yardi Matrix data reveals that multiple funding sources have been secured by Dominium to finance Matlock Flats. These include bonds from Wilmington Trust originated by Arlington Housing Finance Corp., along with a bridge loan from Bridgewater Bank and subsidies through the Section 42 LIHTX Credit Program. Additionally, JLL, Colliers Securities and The Huntington National Bank are all partners in this development alongside Comerica Bank and Huntington Community Development Corp..
Matlock Flats will offer 108 two-bedroom units as well as 84 three-bedroom floorplans upon completion of construction; common area amenities such as patios, swimming pool, fitness center clubroom dog park playground are also included in this development’s offerings. Situated at 6900 Matlock Road near Interstate 20 (20 miles away from Fort Worth & 28 miles away from Dallas), it is expected that occupancy for these homes will begin soon after completion of building works later on this year or early 2021
