Overview
Colliers Dallas Multifamily Advisors has been retained by Realty Capital Residential as exclusive agent to arrange the development capitalization for Parkway Lofts, a proposed 312-unit, $74 million luxury multifamily community in Corinth, Texas. Parkway Lofts will consist of two 4-story, elevator-serviced buildings with 293 units and three 2-story buildings containing 19 large townhomes. Permit plans have been submitted to the city for approval. In addition, two general contractors have each prepared construction budgets for the project and are working on GMP pricing.
Investment Highlights
Parkway Lofts is situated in the Parkway District, a future mixed-use community, located on the southwest corner of the highly trafficked (132,000 VPD) I-35E and Corinth Parkway intersection. This development marks one of the City’s first true mixed-use projects, offering a live-work-play environment with amenity space for music and performance spaces, retail shops, restaurants, and a hotel. To capitalize on the demand for a live, work, play environment, Realty Capital plans to develop and open the restaurants within Parkway District during Parkway Lofts lease up. Realty Capital has negotiated an economic incentive agreement with the City of Corinth, which will help finance the restaurants.
- Best in Class Sponsor
- Outstanding Demographics
- Bedroom Community with Excellent Connectivity
- Highly Amenitized, Mixed- Use Neighborhood
- High Barriers to Entry
PROPERTY DESCRIPTION
Colliers Dallas Multifamily Advisors
