Thu. Sep 21st, 2023
Las Colinas apartment growth will court docket significant-close renters with primo spot

Builders are hoping a new Irving apartment project will elevate the bar for Las Colinas renting.

They could not have picked a far better web-site for the group — at the south conclusion of Lake Carolyn with sweeping vistas of the surrounding City Centre.

“It has fantastic, expansive views,” stated Robert Leikam, president of Oklahoma-centered condominium builder American Household Group. “As fantastic as this web-site is, we needed to do some thing different.”

What American Residential Team has planned for the extra than 5-acre vacant property on Las Colinas Boulevard is a bigger-good quality group than close by jobs.

That’s saying a good deal.

With about 8,700 rental units, Las Colinas’ Urban Middle is one of the premier apartment markets in North Texas.

The Irving development’s site in between DFW Global Airport and Dallas, company by DART’s light-weight rail line and near proximity to major work facilities have built the Urban Centre just one of North Texas’ most popular rental markets.

In the final couple many years, builders have built hundreds of apartments in Las Colinas, most of which are leased.

“There is a great deal of great merchandise in the current market from great builders,” Leikam stated. “We think our project will stand out.”

Named The Mustang, the residences will stretch together the lake shore in buildings ranging from 3 to seven stories.

An higher-amount pool deck and terrace will have views above the h2o. And a strolling trail in entrance of the constructing will link to a park upcoming doorway and other structures around the lake.

“We genuinely do imagine it will be distinct with the tower section and the elevated pool,” Leikam explained. “We required it to experience like you are arriving at a 5-star vacation resort.”

He said the 275-device community will have much larger residences aimed at more experienced renters.

“At the leading of the record would be a few that is it’s possible ready to go on from the duty of their 4,000-sq.-foot home,” Leikam claimed. “They want to be capable to journey and not worry about a household.”

American Household Group acquired the land for the apartments previous drop. The web site experienced been owned for many years by Fidelity Investments, which after regarded an business constructing for the house.

The Mustang Residences will have a pool deck with sights more than the lake in Las Colinas.

Bobby Stewart of Las Colinas-based CSE Commercial Authentic Estate reported the Tulsa-based mostly builder was the appropriate selection for these types of a strategic residence.

“There’s not a ton of sites remaining in the City Center,” stated Stewart, who worked with American Household on the undertaking. “We have put in two and a 50 percent to a few a long time performing on the deal — from the very first time we made our 1st offer you.

“Fidelity held it for a extended, long time.”

The developers program to crack floor this summertime and devote about two yrs constructing the job.

Stewart stated residents at The Mustang will be receiving a good deal more amenities than at regular rental tasks.

“We want to attractiveness equally to vacant nesters and younger specialists functioning at property,” he said. “We are constructing eight specific offices in the creating that the inhabitants can use. And there will be a personal dining place residents can use.”

The apartments will have concierge provider and valet parking at the front doorway.

The units will regular far more than 1,100 sq. toes. “We want this condominium high-quality,” Stewart claimed.

The much more than $76 million condominium undertaking was designed by Dallas architect Womack + Hampton.

The Mustang will be American Residential Group’s 2nd apartment task in the Las Colinas Urban Middle.

The developer constructed the 319-device Carolyn rental local community in in 2018.

American Household Group has been in small business since 1997 and has developed additional than $1 billion in condominium tasks. It has designed rental communities at dwelling in Tulsa, in Austin and in Knoxville, Tenn.

The firm was started by previous companions with developer Lincoln House Co.

“Our founders have a good deal of working experience in Texas,” Leikam said. “We are headquartered in Tulsa, but Texas is where our advancement prospective buyers are.”

The Mustang Apartments in Las Colinas will have 275 units.
The Mustang Residences in Las Colinas will have 275 models.
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