Transcontinental, Adobe Break Ground on Dallas Community
- Jun 06, 2018
Transcontinental Realty Investors and its subsidiary, Adobe Properties, have broken ground on a 498-unit luxury community in Farmers Branch, Texas. The property, dubbed Lakeside Lofts, will be situated within Mercer Crossing, a 1,200-acre mixed-use project that Centurion American is developing.
Lakeside Lofts will be located at 11500 Lago Vista E., on the shore of Elm Fork Trinity river. The community is set to comprise one- and two-bedroom units, all equipped with shaker style cabinets, two-inch faux wood blinds, washer and dryer connections, steel appliances and vinyl plank flooring. The common area amenity package is slated to include several upscale features such as:
- swimming pools
- fitness center
- bocce ball court
- fire pits
- hiking and biking trails
- two six-floor parking garages
High demand market
Constructed by six builders—M/I Homes, First Texas Homes, Beazer Homes, Megatel Homes, Oakdale Homes and Siena Homes—the Mercer Crossing mixed-use project broke ground last year. Centurion American, in partnership with the City of Farmers Branch, is spearheading the development. Mercer Crossing will feature 93 acres of urban commerce and 174 acres of residential single-family homes.
Located near the junction between interstates 635 and 35E, the future property will feature retail, shopping centers, corporate office space and multifamily residential. An Omni Hotel is adjacent to the upcoming Lakeside Lofts, while two others are currently under construction.
“It’s exciting to watch the development of Lakeside Lofts right outside our Browning Place windows. This is the eighth multifamily asset we’ve developed or leased up so far this year,” said Daniel Moos, president & CEO of Transcontinental Realty Investors, in a prepared statement.
Investors have been very active in Farmers Branch in the past few years. In October 2017, KWA Construction broke ground on a 186-unit community. The project is part of the second phase of Mustang Station Apartments, a property that is scheduled to be completed by the end of 2018.
Image courtesy of Transcontinental Realty Investors