Multifamily Construction: No Slowing Down
Billingsley Co execs feel so positive about multifamily that they formed a new corporate entity to build apartment projects, Billingsley Construction. The offshoot has plans to develop more than 3,000 new units between now and the end of next year. (So you know what your 2015 Christmas present will be.) Billingsley Co prez of development Lucilo Pena tells us Billingsley is capitalizing on the red-hot corporate relocation market. Ultimately, too, he says is that Billingsley’s Cypress Waters and Austin Ranch will see more than 22,000 apartment units built.
Construction is underway on 106 new townhomes at Cypress Waters with expected delivery by the end of the year. Austin Ranch’s first phase (of a 2,000-unit community) totals 525 units and is scheduled for completion by October. Billingsley is also breaking ground on multifamily units at Mercer Business Park branded The Brickyard. It will total more than 900 units and will be built in two phases, Lucilo says. (We need to do some research in that pool with a cold one. All in the name of journalism, of course.)
Harwood International will break ground on its new luxury high-rise condo tower, Bleu Ciel, this fall at the northwest corner of Wolf and McKinnon streets. The 158-unit tower is Dallas’ first high-rise designed by a French architect and the first new condo construction in years. Designed in collaboration with Paris-based Jean-Michel Wilmotte and Dallas-based HDF, the tower is slated to have 360-degee views and is priced from $600k and up.