US-based multifamily housing developer NRP Group has broken ground on a mixed-income, multifamily project in Dallas, Texas, US.
The project, named Ascent at Mountain Creek, will feature 324 apartment units spread out in 14 three-story, wood-frame buildings comprising one, two- and three-bedroom floorplans.
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Ascent at Mountain Creek will also feature den floor plans for one- and two-bedroom units targeting those with work-from-home preferences.
After completion, each unit will have quartz countertops, backlit mirrors, stainless steel appliances and walk-in wardrobes.
The community will provide amenities, such as a resort-style pool, pet park, fitness centre and a lounge, which can also be used as a workspace.
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About 50% of the units will be allocated to individuals and families making 80% or less of the area’s median income.
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By GlobalDataThe property is located 15 minutes outside downtown Dallas. It is closer to many dining and shopping centres.
It is surrounded by hills, forests, and hiking trails.
The company will begin early leasing of the project in October 2023, with an expected completion date of September 2024.
NRP Group vice-president of development Alena Savera said: “Dallas-Fort Worth continues to experience surging population growth, making Texas one of the leading states in the country in terms of net migration.
“The influx of new residents migrating to the area is causing high demand for a limited supply of apartments in the DFW market. As a result, apartment rents are quickly skyrocketing to rates that are infeasible for most individuals, especially those who are in the ‘missing middle’ income bracket.
“We are excited to bring this housing development to the market and work alongside the City of Dallas to provide working-class families and individuals housing, as well as the opportunity to enjoy the natural beauty of the Mountain Creek region of Dallas.”
