FORT WORTH—While multifamily construction financing has become challenging to obtain, a project along the Trinity River near Interstate 35-W is a lucky beneficiary of funding, timed to coincide with the population growth in DFW. Talos Holdings expects to break ground this month on The View of Fort Worth, a 300-unit community, and have units ready for occupancy by late 2018. A second phase could add 200 units, bringing the project total to 500 units.
The funds were provided by Endeavor Real Estate Partners out of Austin and secured by Justin Shuart, Jason Pumpelly and Brian Park of Cushman & Wakefield on behalf of Talos Holdings. The timing is right to move forward with the project, says Cushman & Wakefield.
“DFW is among the top markets in the country for rent appreciation, and with the population growth the region is experiencing, that should hold true for a while,” Pumpelly said.
In addition to the unique amenity of waterside living, the luxury development on Northside Drive will offer views of downtown Fort Worth.
“We are truly excited to be part of such a great project in the great city of Fort Worth,” said John K. McWilliams Jr., founder of Talos Holdings. “We believe this is a one-of-a-kind property, with the views of downtown and being on the river.”
The development will be a midrise community of three stories over podium parking. Units will range in size from one to three bedrooms and feature 9-foot vaulted ceilings, quartz countertops, stainless steel appliances, balconies or patios, and full-size washers and dryers. Planned amenities include an infinity-edged pool with private cabanas and gardens, Wi-Fi café, athletic center, game room, pet park and dog wash.
“At the same time DFW is adding residents at a record pace and demand for new rental housing remains solid, banks are continuing to pump the brakes on multifamily construction financing,” Shuart tells GlobeSt.com. “We've had to adapt. Structuring creative non-traditional financing solutions for our clients is an area in which we excel.”
The View of Fort Worth was designed by Dallas-based BGO Architects, with interiors by Imagine Design. CBG Building Co. is the general contractor. Lincoln Property Co. will provide management services.
FORT WORTH—While multifamily construction financing has become challenging to obtain, a project along the Trinity River near Interstate 35-W is a lucky beneficiary of funding, timed to coincide with the population growth in DFW. Talos Holdings expects to break ground this month on The View of Fort Worth, a 300-unit community, and have units ready for occupancy by late 2018. A second phase could add 200 units, bringing the project total to 500 units.
The funds were provided by Endeavor Real Estate Partners out of Austin and secured by Justin Shuart, Jason Pumpelly and Brian Park of Cushman & Wakefield on behalf of Talos Holdings. The timing is right to move forward with the project, says Cushman & Wakefield.
“DFW is among the top markets in the country for rent appreciation, and with the population growth the region is experiencing, that should hold true for a while,” Pumpelly said.
In addition to the unique amenity of waterside living, the luxury development on Northside Drive will offer views of downtown Fort Worth.
“We are truly excited to be part of such a great project in the great city of Fort Worth,” said John K. McWilliams Jr., founder of Talos Holdings. “We believe this is a one-of-a-kind property, with the views of downtown and being on the river.”
The development will be a midrise community of three stories over podium parking. Units will range in size from one to three bedrooms and feature 9-foot vaulted ceilings, quartz countertops, stainless steel appliances, balconies or patios, and full-size washers and dryers. Planned amenities include an infinity-edged pool with private cabanas and gardens, Wi-Fi café, athletic center, game room, pet park and dog wash.
“At the same time DFW is adding residents at a record pace and demand for new rental housing remains solid, banks are continuing to pump the brakes on multifamily construction financing,” Shuart tells GlobeSt.com. “We've had to adapt. Structuring creative non-traditional financing solutions for our clients is an area in which we excel.”
The View of Fort Worth was designed by Dallas-based BGO Architects, with interiors by Imagine Design. CBG Building Co. is the general contractor. Lincoln Property Co. will provide management services.
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