ADDISON, TX-Citing an underserved market when it comes to multifamily product, local developer RightQuest LLC broke ground yesterday, May 6, on the first phase of Villages at Sugar Road in the south Texas city of Edinburg. The initial phase, consisting of approximately 168 units, is slated for a January 2014 completion.
"This particular site is in south Edinburg, within a one-mile radius of four rapidly growing hospitals," comments Ryan Harden, president of RightQuest. He tells GlobeSt.com that the personnel employed at the hospitals have mainly lived outside Edinburg, in nearby McAllen, TX and other places. As such, "the city was definitely supportive of having more luxury market-rate rental housing available for the working professional," Harden says.
The property, located just west of US 281, fronts Sugar Road near Alberta Road and is also fairly close to University of Texas-Pan American. Harden says the college recently made some expansion announcements. "This location really serves both of these segments (student and medical) pretty well," he says.
RightQuest is developing the property on behalf of Brownsville, TX-based JTMR LLC. The two companies began working on the project's first phase a little more than a year ago, bringing onboard the San Antonio architectural firm of B&A Architects and the Edinburg-based civil engineering firm of Melden & Hunt Inc. to coordinate the design. Peterson Construction Inc., with offices in McAllen and Frisco, TX, is the general contractor.
In addition to residential units, Villages at Sugar Road also has two commercial pad sites that could accommodate at least a 3,000-square-foot commercial or retail building. Harden says the decision to include retail in the project is based on the fact that funding has been approved to expand the roadway infrastructure in the area, which will increase traffic circulation. While the commercial/retail component won't be immediate, it is in the plans. Furthermore, the second phase, which would include between 132 units and 150 units, will break ground depending on how well phase one does.
But Harden is optimistic that Villages at Sugar Road will do quite well, pointing out that Sugar Road has been the site for several medical and rehab facilities groundbreakings in recent months. "This is a pocket for anything related to healthcare and medical," Harden notes.
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