Sunday, December 30, 2007

Apartment Developers Flocking to Frisco's Booming Market

(Frisco) - Post Properties is starting work on 275 apartments just east of the Dallas North Tollway. Post Properties' four-story Sierra Frisco apartment community on Warren Parkway will include 30,000 square feet of ground-floor retail. Post also has land for an additional 350 units. Just across Parkwood Boulevard, developer Westwood Residential has broken ground on a 655-unit apartment community that's part of the Centre at Preston Ridge mixed-use development. Westwood's four-story buildings in Centre at Preston Ridge II will have about 15,000 square feet of retail and office space on the lower floors. Rents in the project will average around $975 a month. Several more apartment developments are in the works further north off the tollway in Frisco. Wood Partners plans to break ground in early 2008 on a 340-unit rental community called Alta Frisco on Eldorado Parkway just east of the tollway. Wood Partners plans to build a series of three-story townhouse-style buildings. Hermansen Land Development has purchased 88 acres at Frisco's Main Street and the tollway where it will build a mixed-use project called Frisco Market Center. That project will include about 700 residential units, including apartments. And just across the tollway on Main Street, developers of the Frisco Square complex are gearing up for a new apartment building program. Robert Shaw has joined the project and plans to build about 800 rental units in Frisco Square. The first development of 286 apartments will kick off in early 2008. Frisco Square already has 114 apartments in two buildings across from the new City Hall.

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1 comment:

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