EDINBURG, TX—Royal Vista Apartments, a multi-phased development, is now underway, according to developer, RightQuest Edinburg LLC. RightQuest is developing the property on behalf of Brownsville-based JTMR LLC, a privately held company that gave the groundbreaking the green light this month.
The two companies began working on the project earlier this year, bringing aboard the San Antonio architectural firm of B&A Architects and the Edinburg-based civil engineering firm of Melden & Hunt Inc. to coordinate the design. The general contractor for the project is Houston-based Nations Construction Inc., which is currently mobilizing on the site. IBC Bank is providing the financing for the project and BBG Inc. provided the market feasibility and demand analysis.
The property is located on approximately 10 acres fronting Sugar Road near Owassa Road, just west of Interstate 69/US 281, which is being transformed into the NAFTA Highway (I-69). The site's proximity to those thoroughfares provides visibility and access to all parts of the Rio Grande Valley. This area is centrally located within one of the largest trade corridors in the world as more than 54% of all trade between Mexico and the United States made its way through South Texas ports of entry within the last 20 years, GlobeSt.com learns.
The development includes 144 units of class-A apartments, as well as future commercial developments on two 1.13-acre pad sites fronting Sugar Road. The pad sites can accommodate commercial, retail and hotel buildings, or a mix thereof.
The project is also located within a 1-mile radius of the Doctor's Hospital at Renaissance, Cancer Center at Renaissance, Edinburg Regional Medical Center, Edinburg Children's Hospital and Cornerstone Regional Hospital, making it highly desirable for a mix of uses and drawing demand from the growing number of healthcare professionals working in the area. The project is also located on a direct route to the University of Texas-Rio Grande Valley campus just 3 miles north, making it a residential option for the student population. The University of Texas will soon open the first major medical research center along the US-Mexico border, GlobeSt.com learns.
Also within a 1-mile radius of the site is The Shoppes at Rio Grande Valley, which includes JC Penney, Burlington Coat Factory, Ross and TJ Maxx, along with a series of restaurant chains. It is also in close proximity to the $50 million-plus Vipers basketball stadium under construction at Alberta and I-69/US 281, a Super Walmart and Cinemark movie theater.
The development has several class-A amenities and upgrades which will surpass the more than a half dozen ground-up multifamily developments RightQuest has completed in South Texas since it began working in the area in 2007. These amenities include a clubhouse with media center, complimentary business center, fitness center, swimming pool, poolside cabana/barbecue areas, two outdoor gas fire pits, private dog yards, large dog park, pavilion, detached garages, onsite storage facilities, covered parking and several other amenities.
The property will be one of the first to offer full AT&T Fiber services, which promises to serve the community with faster Internet speeds available in the area. Most living spaces will include private patios/balconies, 9-foot ceilings, large walk-in closets, gourmet kitchens, front-load washers/dryers, upgraded appliances and granite countertops. Rents range from $721 to $1,110 for efficiency, one- and two-bedroom units. The first units will be available for occupancy in the summer of 2018.
“Royal Vista will be among the highest quality luxury apartments ever constructed in the Rio Grande Valley,” Ryan Harden, president, RightQuest, tells GlobeSt.com. “Our amenities are beyond anything our competitors are able to offer.”
The property is situated near the 168-unit Villages at Sugar Road Apartments developed by RightQuest in 2013.
Edinburg's population is 55,297. The city is the educational and technological capital of the Texas-Mexico border region. With a population of more than 2 million, the Rio Grande Valley has the highest concentration of people between the ages of 18 and 24 in North America.
The four-county area has a larger population than South Dakota, Delaware, North Dakota, Vermont, Alaska and Wyoming. The Rio Grande Valley is almost twice the size of Delaware and four times the size of Rhode Island, GlobeSt.com learns.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
