A Georgia-based apartment builder plans to begin construction this year on one of the largest new rental communities planned in Frisco.
Davis Development is working on plans for an apartment community of more than 1,000 units on Eldorado Parkway east of Dallas North Tollway. The project, covering over 80 acres, is between the tollway and Preston Road.
Davis Development has filed plans for the apartments with the city and is seeking approvals for the first 332-unit phase.
“It’s going to be built in three phases,” Davis’ Gene Babb said. “My best estimate is we will begin construction in three or fourth months.”
Davis Development is building the second phase of its Stratus Phillips Creek Ranch apartments on FM423 in West Frisco. The Stratus project is planned for more than 870 apartments.
Babb said leasing at Phillips Creek has been strong.
“With all the employment growth up here, we are seeing strong demand,” he said.
Davis Development is based in Atlanta and builds in the Southeast, Southwest and Midwest.
In North Texas, the builder has apartment communities in Prosper, Fairview, McKinney, Frisco and Fort Worth.