Development Updates in Dallas:
Over the last few years, Texas’ explosive population growth has yielded high demand for multifamily space, and developers are looking to capitalize on the opportunities it presents. While some teams have paused development due to high inflation rates and rising construction costs, many developers remain undeterred by market instability. As a result, thousands of units are poised for delivery in the DFW metroplex.
Welker Properties To Build 343-Unit BTR Community in Dallas
Local Dallas developer Welker Properties has announced plans for a build-to-rent project named “Wolf Creek Farms Melissa.” The firm hopes to capitalize on the $95 million endeavor, citing others’ reluctance due to current market conditions. The project will bring much-needed housing options to the area, following a growing trend of luxury BTR community development across the country.
International Developers Enter the Dallas Market With Land Purchase
Empira Group, a Swiss real estate investment and development company, has just completed the acquisition of a strategic development site in the Dallas Arts District. Empira’s plans for the 1.1-acre site include the construction of 375 multifamily units, 7300 sq. ft. of retail restaurant space on the ground floor, and another 2,500 sq. ft. of outdoor seating. The project will serve as a welcome addition to the thriving area.
Landmark Cos. Closes Loan for Dallas-Area Multifamily Project
Florida-based development company, Landmark Companies, has just closed on financing for “Arden at Corinth.” The project will include 296 units across six buildings, featuring both apartments and townhomes. The $63.3 million endeavor will also include traditional amenities, including a clubhouse, pool, dog park, and more. Landmark hopes to take advantage of the population growth seen in the Dallas suburb over the last few years.
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Texas Digest