Boston, MA – (May 14, 2018)
GID announced today the formation of a joint venture partnership with Wood Partners to develop Alta 289, an apartment community located in the Dallas suburb of Plano, Texas. Construction is set to begin this month and the first residences are anticipated to be available in late 2019. This joint venture is the first between GID and Wood Partners.
The community, located at the southeast corner of Preston Road and Rasor Boulevard, will include 288 apartments in a four-story building. Amenities will include a resort-style pool, fitness center, community room, outdoor covered lounge space, dog park and 2 acres of courtyard/outdoor spaces located only 1.25 miles from Legacy West, including new headquarters for Toyota, Liberty Mutual and JP Morgan Chase. Units will feature stainless steel appliances, solid surface countertops in kitchens and baths, and vinyl plank flooring in the living areas.
Gary Kroll, Senior Vice President and Director of Central Region Acquisitions at GID, commented “GID is pleased to expand our Dallas-Fort Worth portfolio with our second DFW suburban investment. This location is incredibly convenient to the tens of thousands of jobs currently being located to the West Plano/Legacy West area as well as over 2.4 million square feet of retail and entertainment – all within 1.25 miles. This property will offer its residents the unique blend of open green space with excellent proximity to the live/work/play lifestyle.”