(Read more on the multifamily market.)

FRISCO, TX-After sizing up the demographics, Tonti Properties has decided to go the distance to develop the first Energy Star-qualified multifamily complex in North Texas. The 270-unit La Valencia at Starwood carries an all-in development tab of $30 million.

Rick Perdue, vice president of acquisitions and development for the Dallas-based developer, tells GlobeSt.com that the extra energy-efficient measures added roughly 2% to the cost, but the investment will return a premium over the long haul for La Valencia at Starwood, a 15-acre project planned for 6805 Lebanon Rd. "We don't want to build a product that five years from now is going to be outdated due to mandates," he says.

Perdue and the Tonti team believe the result will be higher occupancy, which over time translates into a rent premium. The one-, two- and three-bedroom apartments, ranging from 753 sf to 1,450 sf, have projected rents of $1.10 per sf to $1.15 per sf.