The Toronto-based Highgates development group is starting its first project in Texas, adding hundreds of apartments to the Whitewing Trails master-planned community in Princeton, an area busy with the construction of single-family homes.
The group will be working to build 444 apartments on the 20-acre community site along Monte Carlo and Beauchamp boulevards, according to the Dallas Morning News. There will be one-, two- and three-bedroom floor plans. The project is also aimed at people working in nearby cities like McKinney and Allen, said Highgates president and CEO Joseph Waldman.
“Time will tell, but I’m very excited about the market,” he said. “There’s a huge amount of growth in the area.”
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The utility work is almost complete, and Waldman expects the community’s first building to be done by early next year. The project is a joint venture with Farmers Branch-based Centurion American, the development group behind Whitewing Trails.
The two-bedroom units will be close to 1,300 square feet and the one-bedrooms around 1,000 square feet, according to Waldman. The community will also have various amenities, such as dog parks, a pool, a gym, and workspaces.
Highgates has developed thousands of apartments, primarily in Kentucky, Indiana, and Iowa. This project will add another housing option to an area already booming with residential development.
Builders began construction of more than 2,600 single-family homes in Princeton and the surrounding areas of Collin County over the past year, according to Residential Strategies, and earlier this year, the Plano-based Green Brick Partners Inc. bought 427 acres in Princeton to develop a residential community called Windmore with up to 1,762 single-family homes.
Waldman said the company is also set to pursue another North Texas project in Plano with about 486 units.
[Dallas Morning News] — James Bell