PLANO, TX—Developers are eying the Telecom Corridor north of downtown for multifamily developments, including one local real estate investor Abid Abedi, who will break ground this week on 19 acres at the northwest corner of Plano Parkway and Independence Parkway in Plano.

Abedi is developing the land for the construction of 182 new single-family townhouses/condos. Chris Callicutt and Robert Grunnah of Novus Realty Advisors represented the seller in this transaction and have brokered portions of this 25-acre land parcel for several years.

"It was a group effort on all fronts between the developer, the brokers, the adjacent neighborhood and the City of Plano,” Callicutt told GlobeSt.com. “More importantly, the timing is right on. The Plano/ Richardson markets are expanding and the development will supply an already under-represented product type."