Frisco Square Set to be Home to New Luxury Community
- Aug 22, 2014
Behringer and PegasusAblon announced plans to joint venture on the development of The Ablon at Frisco Square, a 275-unit luxury, multifamily community that will be located in Frisco Square. The asset will be developed by PegasusAblon, the joint venture’s general partner.
“We welcome the opportunity to work with Behringer to develop The Ablon at Frisco Square,” said Michael Ablon, principal of PegasusAblon. “Growth in the technology and healthcare sectors, as well as the continued expansion of entertainment venues and other amenities, is attracting new residents to Frisco. With this development, we are focusing once again on creating a luxurious community that caters to the lifestyles of affluent young professionals.”
The amenities of the multifamily community include a clubhouse with a kitchen, fireplace and television; a pool surrounded by cabanas and an outdoor kitchen; and a 24-hour fitness center. No matter what the floor size, all of the apartments will feature granite countertops, hardwood flooring, stainless-steel appliances, surround-sound speakers and Wi-Fi.
The first floor will also encompass apartments, but their design will be slightly different than that of the others – they will feature 14-foot ceilings so as to blend architecturally with neighboring mixed-use developments. In addition, to cater to a seamless transition, an outdoor plaza will function as an extension of the public park in front of the Frisco City Hall.
“We are proud to be a significant investor in Frisco Square, which comprises key assets in the portfolio of Behringer Harvard Opportunity REIT, Inc. We believe further development at Frisco Square will stimulate economic growth for the city of Frisco while ultimately contributing to the upside potential of all of our holdings at Frisco Square,” said Michael O’Hanlon, CEO of Behringer’s opportunity platform.