(Read more on the multifamily market.)
[IMGCAP(1)]FRISCO, TX-With work under way on two hotels, ground will break in November on the residential component of the $130-million second phase of the Centre at Preston Ridge. Coming next year will be 80,000 sf of restaurant and retail space, timed to deliver in 2009 with the 655-unit mid-rise multifamily complex.
“We're excited. We think it's the next phase for Frisco and Frisco Bridges with this mixed-use lifestyle development,” says Justin Allen with Oakridge Investments Inc. The Dallas-based developer and its Australian-based partner, Centro Properties Group, have sold 13.5 acres to Westwood Residential Co., also from Dallas, for the multifamily project.
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