US-based Hunt Companies has announced the construction of a luxury multifamily housing project in Richardson, Texas, US.
The project, named the Caroline Eastside Apartments, will consist of 384 apartment units with studio, one, two, and three-bedroom floorplans.
The units will feature modern floor designs, high ceilings, and eco-friendly elements.
Furthermore, residents will be able to access a co-working space, a clubhouse, a two-storey gym, a pet park, a rooftop lounge, a spa pool with an indoor and outdoor seating area, and a game room.
The project is being developed by Hunt, and Walker Dunlop is serving as the lender. HEDK Architects has designed the building, while the construction is being led by KWA Construction.
ZRS Management is responsible for leasing and managing the property.
Situated at 1735 North Greenville Avenue, Caroline Eastside is close to many restaurants, commercial areas, major employers, and recreational facilities.
Richardson city officials, Hunt officials, and representatives from Walker Dunlop, KWA, HEDK, and ZRS, took part in the project’s ground-breaking ceremony.
Richardson Mayor Paul Voelker said: “As Richardson attracts more leading technology and innovation companies our population continues to grow, and we need partners, such as Hunt Companies to help us meet our housing demands.
“The Caroline Eastside will provide critical capacity in high-end multifamily living while creating an upscale resident experience in a vibrant area of Richardson.”
Hunt senior vice-president and project developer Ben Wullschlager said: “The Caroline will provide ideally-located, modern Class-A residences to support the growing demand for multi-family housing in Richardson.
“At Hunt, we’re excited to add a complementary property to the Mallory and play a role in realising the vision of Richardson’s Eastside.”
Hunt is partnering with the US Department of Housing and Urban Development (HUD) for the financing of the project.
Preleasing of the project will start in Q4 2023, with move-ins expected in early 2025.
Based in El Paso, Texas, Hunt is a family-owned holding company that invests in operating businesses, real estate assets and infrastructure assets.