252 more affordable apartments could come to Denton apartment complex 2%
By Adam Doe1%
7/31/2026, 1:54:00 PM
BS Summary: This article contains 5 faulty reasoning types, including Appeal to Authority, Biased Writer Voice, and Ambiguity (Equivocation), with Unattributed Quote as the most egregious example at 16.1% saturation with 92 hits. Analysis detected 189 faulty-reasoning hits from 570 analyzed words, generating a BS Score of 5.4% and a BS Rank of 2% (25,694 of 26,004 articles). This article is better (less manipulative) than 98.80% of the article peer group.
More affordable apartments could come to Denton after a Denton City Public Facility Corp. board meeting Aug. 4 to evaluate its first application since it started accepting applications in December 2025.
The organization evaluates property tax exemption applications for income-restricted affordable housing developments.
The details
Developer April Housing applied for a 100% property tax exemption through the Denton City Public Facility Corp. to build an additional 252 affordable units at the Waterford at Spencer Oaks apartment complex.
City documents state that of those 252 units, 165 units will be considered affordable for Denton and serve households that earn less than 50% of the Dallas area median income, or AMI.
Documents from April Housing show affordable rent rates for Denton will range from $535 per month for a 30% AMI one-bedroom unit up to $1,329 for a three-bedroom unit at 50% AMI.
The expansion will also offer three-bedroom units at a rate of $1,634 per month for renters earning 80% AMI.
Zooming out
Although all 252 units will be income-restricted, 165 of them will result in lower rent.
An April report from Jesse Kent, Denton’s community services director, showed that rent priced for 50% AMI and lower resulted in rent reductions in Denton, and 80% AMI units did not result in rent reductions, as 80% Dallas AMI is the same as Denton’s market rate.
Kent previously told Community Impact that the U.S.
Department of Housing and Urban Development determines what rental rates are affordable for different income levels with data from the Greater Dallas area.
HUD uses income data from Dallas, Collin, Hunt, Denton, Rockwall, Kaufman and Ellis counties to determine affordable housing rates.
The higher-income areas skew the rates higher than what Denton renters can afford, Kent said.
This causes units reserved for 80% AMI earners to rent at market rate, and not result in rent reductions.
By the numbers
The developer is applying for a 100% property tax exemption, which will save them about $527,451 in property tax payments, according to city staff analysis.
The property tax exemptions would be split between:
Denton ISD with $320,170 of exempt property tax revenue
The city of Denton with $157,955 of exempt property tax revenue
Denton County with $49,326 of exempt property tax revenue
In exchange for the property tax exemption, staff analysis shows the reduced rental rates will result in about $205,700 in rent reductions each year.
What else?
The Denton City Public Facility Corp. is a city-founded organization that can grant property tax exemptions to developers in exchange for reserving units for low-income earners, according to the city’s website.
The Waterford at Spencer Oaks expansion is the first full application the city’s public finance corporation has received since it started accepting applications in December 2025, Housing Programs Manager Leia Atkinson said.
Some background
The Waterford at Spencer Oaks currently offers 47 units at 50% AMI or lower, according to city documents.
The original property partnered with the Tarrant County Development Corp. to receive a 50% property tax exemption, Atkinson said.
If City Council approves the exemption for the expansion, only the new property would receive the 100% property tax exemption.
The original property will maintain its current 50% exemption, Kent and Atkinson said.
Looking ahead
If the Public Facility Corp. board chooses to proceed, City Council will consider approving the tax exemptions at an Oct. 13 meeting, city documents state.
Analysis
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