Wood Partners Opens 325-Unit Community Near Dallas

The social clubhouse and game room at Alta at The Farm. Image courtesy of Wood Partners

Wood Partners has expanded its presence in the Dallas-Fort Worth area with the opening of Alta at The Farm, a 325-unit apartment community located at The Farm, a 135-acre mixed-used development in Allen, Texas.

Atlanta-based Wood Partners began construction of Alta at The Farm, a 5.10-acre site at 1287 Blue Tractor Lane, in January 2022. The firm received a $37.4 million construction loan originated by Comerica Bank in November 2021. The loan has a maturity date of Nov. 16, 2026, according to Yardi Matrix data. Wood Partners also secured a $1.6 million construction loan from Comerica Bank in November 2022. That loan has a Nov. 16, 2026 maturity date.

Alta at The Farm offers a mix of studio and one- and two-bedroom floorplans. According to Yardi Matrix, square footage for the units ranges from 565 to 1,272 square feet and rents range from $1,395 to $2,631. The apartments have premium finishes, including kitchens with granite countertops, stainless steel appliances, high-end fixtures and tile backsplashes. Other features include keyless entry systems, state-of the-art technology, wood plank flooring and washers and dryers.

Community amenities include a resort-style pool with tanning ledges, a second courtyard with grilling areas and fire pits, a community clubhouse with a fitness facility, private fitness micro-studios and a Sky Lounge deck overlooking West Lake Park and The HUB, the 2.7-acre outdoor entertainment and retail venue for The Farm that will include a 2,000-square-foot stage. Residents will also have access to remote working areas, social gathering spaces and enhanced Wi-Fi throughout the common areas. The four-story building has a total of 352 parking spaces in a multi-level structure. Wood Partners will manage the property.

Situated along US 75 and the Sam Rayburn Tollway, the property has easy access to shopping, dining and entertainment as well as major employers including Globe Life Insurance, Medical City McKinney, Emerson, Methodist McKinney Hospital, Raytheon and those at the Legacy West and North Platinum corridors. Alta at The Farm is within 25 minutes of the Dallas/Fort Worth International and Love Field airports.

The Farm

The Farm will include more than 1.6 million square feet of offices, 142,000 square feet of retail space, a 150-key hotel and 60,000 square feet of residential units, townhomes and restaurants. Alta at The Farm is the first residential component to be completed at the complex. In January 2022, Ashton Woods, one of the nation’s largest private homebuilders, announced it was building a 112-townhouse community, Watters Edge at The Farm.

Alta at the Farm is within walking distance of The Farm’s central district, which includes High 5 Entertainment and Chicken and Pickle. Both of those properties are slated to begin construction this month. Construction of FarmWorks One, a 102,000-square-foot Class A office building located two blocks from the Wood Partners property, is underway. The Farm offers a 16-acre greenbelt and expansive open spaces that stretch the entire length of the development, as well as a 2.5-mile network of multi-use trails.

In June, Wood Partners opened its latest property in the Atlanta metro area, Alta Ashley Park, a 269-unit community in Newnan, Ga. A month earlier, Wood Partners opened Alta Berry Creek, a 300-unit luxury apartment community in Georgetown, Texas, near Austin, as well as Alta Blue Goose, a 300-unit luxury multifamily property.