LIV plans massive resi project in Fort Worth

LIV Development is continuing its multifamily push across DFW with a massive project coming to the southside of Fort Worth.

Called Livano Victory Forest, it will include 357 apartments with a total scope of 488,000 square feet, the Dallas Business Journal reported. It will cost $65 million to construct, or around $182,000 per unit. The new development will be built at 3320 Hemphill Street, according to a Texas Department of Licensing and Regulation filing.

The company plans to break ground on the  project later this year, with a completion date scheduled for mid-2025.

LIV was founded in 2006 and currently has a $7.5 billion market valuation with 20,000-plus units developed or in the pipeline, according to the firm’s website. LIV has multifamily projects across the country but has focused the majority of its attention on the Lone Star State. The company has built and sold developments across DFW, Austin, Houston and San Antonio.

LIV’s most recent DFW build was a 272-unit complex in Celina, called LIV Bluewood, located off Kinship Parkway and County Road 88.

Multifamily projects have been popular in-and-around Fort Worth in recent years. Dallas-Fort Worth topped the most preferred markets for multifamily investment, according to CBRE’s 2023 U.S. Investor Intentions Survey.

The city’s downtown has about $2 billion worth of hotel and apartment developments in the pipeline. Many of these projects were delayed due to the pandemic, but now nearly all are expected to be finished over the next seven years.

More than 65,000 multifamily units are in the construction pipeline across Dallas-Fort Worth, the highest such figure in the country, and the demand for housing in the metroplex doesn’t seem to be slowing.

—Erick Pirayesh