Holt Lunsford Launches Multifamily Arm With Denton Project

Holt Lunsford Commercial is taking on multifamily development, planting a flag in Denton with a project aimed at capturing population growth and lifestyle demand.

The Dallas-based firm launched HL Communities, a multifamily development division, and started its first project, a four-story, 104-unit complex called the Renegade, the Dallas Business Journal reported. Colo Development Partners is the co-developer, and Harmony Bank is providing financing/

The property, rising at 260 West Mulberry Street, is near Texas Health Presbyterian Hospital, the University of North Texas and Texas Woman’s University. Just off the Denton Downtown Square, the development will span 120,000 square feet and is set to deliver in the second quarter of next year. Pre-leasing is scheduled to begin early next year. Units will range from 481 to 1,246 square feet, with more than half designed to include home offices, a nod to the hybrid work era. Planned amenities include a clubhouse, gym, study areas and pet-friendly features.

Archon Corporation is designing the complex, and Westwood Residential will handle leasing and management.

Lunsford is best known for large-scale industrial development, including Denton Point Business Park. It also develops office, retail and institutional projects, and the firm offers commercial tenant representation and property management services.

With HL Communities, the company plans to pursue three product types: boutique infill like the Denton project, suburban garden-style projects near job hubs and wrap developments that pair structured parking with high-density housing.

The timing could prove favorable. While the DFW region has been flooded with multifamily supply — developers delivered more than 40,000 units through mid-2025 — the pipeline is thinning. Units under construction have dropped by about 17,000 year-over-year, and Colliers projects that number could fall to fewer than 18,000 by next year. Occupancy in Class A properties has already tightened back to 95 percent, and average rents edged up last quarter to $1,503.

With the Dallas Fort-Worth Metroplex adding more than 480 people per day through births and migration, Managing principal Hayden Lunsford said the bet is on staying power.

— Eric Weilbacher