Carbon Companies Secures $125 Million for Frisco Apartments

One of Frisco’s largest apartment projects is entering the final stretch, thanks to a fresh round of financing.

Dallas-based Carbon Companies, in partnership with Greenway Investment Company, secured a $125 million loan to build out the final two phases of The Links on PGA Parkway, the Dallas Business Journal reported.

The master-planned, four-phase development will ultimately total 1,310 units across 38 acres at 15950 Paramount Way. The loan includes a syndicated bank facility led by Origin Bank, with involvement from Simmons Bank, North Dallas Bank & Trust Company, b1Bank and Century Bank.

The financing will support construction of 620 apartments and 815 underground parking spaces, with completion expected by 2027. The first two phases, opened in 2021 and 2023, delivered 690 units and a 2-acre city park. The community is 90 percent leased, according to Carbon Cos.

The development’s final push comes amid a wave of growth in Frisco’s Fields development corridor, home to the PGA of America’s headquarters, two championship golf courses, the Omni PGA Frisco Resort and the upcoming Universal Kids Resort, set to open next year. Also nearby are a Baylor Scott & White hospital and Firefly Park, a 217-acre mixed-use district being built by Wilks Development.

Apartments at The Links range from 600 to 1,500 square feet, with rents between $1,200 and $4,700. Amenities include pools, a golf simulator, a grab-and-go market and fitness centers.

The final phase continues a build-to-hold strategy for Carbon, which self-manages the complex and is constructing the project through its in-house division, Carbon Landmark Construction.

The company secured a $138.3 million bridge loan last year to recapitalize the earlier phases.

The project is aimed at young professionals priced out of the urban core but seeking luxury living close to major employment hubs along State Highway 121 and the Dallas North Tollway. With Frisco’s population surging and land costs climbing, multifamily projects in the area are attracting investor and renter interest despite broader volatility in the capital markets.

— Judah Duke