Overview
Colliers Dallas Multifamily Advisors has been retained by Floridays Development Company as exclusive agent to arrange the senior construction loan for Harborside at Sapphire Bay, a proposed $80 million Class A apartment development located within the 116-acre Sapphire Bay development in Rowlett, Texas. Harborside at Sapphire Bay will consist of one five-story building containing 317 apartment units. The building permits have been issued and groundbreaking is planned for July 2024. The sponsorship group has already closed the land, received completed construction drawings, obtained hard bids for the construction, and is ready to execute the construction contract with the general contractor.
Colliers is seeking a lender to provide the senior constructrion loan for the development of Harborside at Sapphire Bay.
Investment Highlights
Prime Location with Superior Amenities
Located on the eastern edge of the DFW Metroplex on Lake Ray Hubbard’s shore, Sapphire Bay is a $1 billion mixed-use development project that will become a unique waterfront destination where business, leisure, and entertainment harmonize to create an extraordinary experience. Located in the heart of Sapphire Bay, Harborside will offer its residents an incredible living experience with stunning view of the lake and a plethora of extraordinary amenities including:
- Roof top pool with stunning views over Lake Ray Hubbard
- Miles of hike and bike trails, parks, kayaking, boating, and the Sapphire Bay Dog Park
- The white sand beach and turquoise blue water of the 7-acre Sapphire Bay Lagoon
- Breathtaking views of the nightly entertainment provided by the Fountains at Sapphire Bay
- Access to the Sapphire Bay Surf Village for concerts and events
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