Atlanta-based apartment builder Wood Partners has broken ground on its latest project in North Texas — this time in Irving.
The Alta Riverside is being built near the intersection of Bush Turnpike and LBJ Freeway and will open in mid-2023. The 280-unit project is the builder’s first rental project in Irving.
“Wood Partners is thrilled to be joining the thriving community of Irving as we officially break ground on Alta Riverside, our first development in the area,” Ryan Miller, managing director of Wood Partners, said in a statement. “In addition to Alta Riverside, Wood Partners will start construction on over 1,100 units throughout northern Texas in 2022, and we look forward to introducing a new level of luxury living as we expand our footprint in this growing marketplace.”
The Alta Riverside community will include a community clubhouse with a fitness center and resident gathering spaces, a dog park and a central courtyard.
The apartments are being constructed near major employment centers in Cypress Waters and Las Colinas.
Groundbreaking for the Irving project follows Wood Partners’ start of two more Dallas-Fort Worth projects at the end of last year. Those two rental communities in Denton and Kennedale south of Fort Worth include 500 apartments.
Wood Partners is building a 325-unit apartment community in The Farm mixed-use project in Allen.
And Wood Partners recently purchased an almost 4-acre building site in North Dallas north of Forest Lane in the Park Central development.
The property on Merit Drive is next to the Lakeside Square office tower and overlooks a small lake. It’s north of the Medical City hospital campus.
Wood Partners has a track record of building multiple North Texas apartment projects. The company owns 70 properties nationwide with more than 20,000 homes.
The D-FW area leads the country in apartment construction with more than 50,000 units on the way.
Less than 4% of area apartments are vacant and rents are up by more than 14% from last year.
Read the full story at Dallas Morning News.