FORT WORTH-In response to growing population and employment in the 17,000-acre master-planned AllianceTexas, SWBC Real Estate LLC has broken ground on Overlook Ranch. The Dallas-based developer plans to complete the 318-unit, class A multifamily property by early 2015.
A spokeswoman representing SWBC tells GlobeSt.com that the complex is at 3032 Overlook Creek Dr., at the northeast corner of SH 170 and Old Denton Road. The site is approximately one mile east of Interstate 35 W and near Cabela's.
“In the immediate area, there is currently an abundance of Fortune 500 employment centers, as well as numerous other companies planning to move into the area,” comments SWBC Real Estate senior vice president Stuart Smith, SVP. “Overlook Ranch will appeal to the young professionals and families of these corporate businesses who desire a convenient life style with first class amenities.”
The Texas ranch style complex will be comprised of 318 rental units, in 21 garden-style apartment buildings, constructed of wood framing with low-maintenance brick/stone and stucco exteriors. The average size will be 852 square feet with ten different layouts, comprised of one-bedroom, two-bedroom, and three-bedroom units.
“With the increasing population growth occurring in Texas, we believe that the demand for multi-family units will continue to stay strong in the foreseeable future as Overlook Ranch is the first of several multi-family developments that we are planning to start within the next 12-15 months,” Smith adds.
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