The development marks the first multifamily project in Austin for the Dallas firm.

Large expansions plus an increase in smaller wholesale deployments is largely behind the increase.

The Minnesota company is the second this week to establish a multifamily presence in the Texas city.

More multifamily investors are diversifying, looking for higher returns.

"The fact that the City of Fort Worth put its own economic development funds into developing the mixed-use complex was an uncommon situation."