DFW’s Biggest 2014 Multifamily Construction Projects
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A look at DFW's five biggest multifamily projects under construction in 2014.
1. River Walk at Central Park
Carrollton-based Centurion American Development Group started the 600-unit River Walk at Central Park on FM 2499 in Flower Mound in August 2013. The multifamily project is geared to seniors with an assisted living component and is part of a 158-acre mixed-use development anchored by Texas Health Presbyterian Hospital Flower Mound. No completion date has been released. Centurion also owns the Stoneleigh Residences in Uptown and is redeveloping the historic Statler Hilton Downtown.
2. Lofts at CityLine
Dallas-based JLB Partners started construction in July on the 532-unit Lofts at CityLine at President George Bush Turnpike and Plano Road in CityLine in Richardson. The Lofts are made up of two apartment buildings in the $600M, 2.3M SF initial phase of CityLine (which should open in late 2015). KDC and JLB Partners plan to build an additional 300 units during the next phase of development. JLB also owns about a dozen other multifamily projects across the Metroplex. The Lofts project should open in August 2015.
3. Boat House I
Dallas-based Billingsley Co started construction in May on the first phase of the Boat House in Austin Ranch (west of the Dallas North Tollway and south of SH 121 in The Colony). The first 525 units will open in February; the second phase, which includes 650 units, is scheduled to start in February 2016. Billinglsey has built 3,000 apartment units in Austin Ranch and has owned this land for 30 years.
4. Sorrel Phillips Creek Ranch I
Atlanta-based Davis Development just opened Sorrel Phillips Creek Ranch I at 5050 FM 423 in Frisco. The 520-unit project started construction in September 2013 and features a car care center and saltwater pool. Davis also owns The Sovereign in Fort Worth, as well as projects in Houston. The multifamily developer has built more than 40,000 units and manages a portfolio of more than 10,000 units.
5. Amli Campion Trail
Chicago-based AMLI Residential is building the 482-unit Amli Campion Trail at 777 Lake Carolyn Parkway in Irving. The project started December 2012, opens March 2015, and features two courtyards with resort-style swimming pools and grills, outdoor pool cabanas with kitchen, fireplace and televisions, and a paw wash for residents’ four-legged roommates. It also will have access to DART Orange Line’s Las Colinas Urban Center Station. Amli just completed one DFW project with another under construction, bringing it to 11 communities across the Metroplex.
Many thanks to Sperry Van Ness/TJF Investments managing director Todd Franks for providing us with data!