One of North Texas’ most seasoned apartment builders is reaping the benefits of public transit for a project in Plano.
Trinsic Residential Group aims to develop a five-story, 325-unit apartment complex on 12th Street, replacing a lumber yard and commercial building on the site, the Dallas Morning News reported. The property is located just south of downtown Plano, on the north side of Bush Turnpike at J Place.
The site is linked with Dallas Area Rapid Transit’s under-construction Silver Line — a 26-mile route that will span from Plano to the Dallas-Fort Worth International Airport, with 10 stops along the way, at the University of Texas at Dallas and in Addison, Carrollton and Cypress Waters.
Trinsic Residential Group’s project is a half-mile from the DART Silver Line 12th Street Station and a quarter mile from the CityLine/Bush stop.
Downtown Dallas is the only place better served by the rapid transit system, Trinsic Residential’s Adam Brown told the publication.
Several apartments and a hotel are adjacent to the site, and Dallas-based developer KDC is at the forefront of the $2 billion CityLine campus nearby, which features several office towers, apartments, a hotel, commercial space and retailers on a 200-acre lot.
Redevelopment of the area will “provide a welcoming, attractive gateway to downtown that supports the transformation of the larger area into the civic and cultural heart of the city,” planning documents from the City of Plano state.
The average rent in Plano is between about $1,400 and $2,100 a month, depending on size, according to Rent.com. Home prices continue upward in Plano’s Collin County, with a median list price of almost $520,000, according to Redfin.
—Quinn Donoghue
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