The town of Prosper’s historic downtown district is finding a new apartment community.

An Alabama builder, Birmingham-dependent LIV Advancement LLC, is setting up the rental challenge on Fifth Avenue close to Prosper’s landmark downtown grain silos.

The almost $48 million improvement is scheduled to commence design this summer season, according to arranging files filed with the condition.

Known as Prosper Lofts, the housing progress will have 299 flats and 20 rental townhomes. The venture was built by Florida-dependent architect Charlan Brock and Associates.

“The website is situated along an previous railroad in the industrial spot,” the state arranging document states.

The Prosper Lofts will acquire about two several years to create.

The rental group will be the premier addition in several years to Prosper’s first small business district, which dates to the early 20th century and was crafted together the St. Louis and San Francisco Railway line.

Clustered along the railway is the assortment of huge steel grain silos that for a long time were being the biggest constructions in downtown Prosper. Numerous of the growing old agricultural relics were just lately demolished by property owner Blue Star Land to make way for enhancement.

LIV Improvement LLC has developed much more than 10,000 rental models valued at $2 billion in the Southeast and Texas. The builder has finished flats in Fort Worthy of and Austin.