Suburban Multifamily Deal of 2015
WINNER: Arlington Commons
Construction recently began on Arlington’s largest redevelopment in city history.
Arlington-based developer the Nehemiah Company is spearheading the project, called Arlington Commons. The complex is estimated to cost $200 million and will bring 1,300 apartments to the neighborhood near Globe Life Park. The new buildings will replace 1970s-era apartments riddled with asbestos at 425 E. Lamar Blvd.
The Arlington City Council issued a $10.5 million reimbursement for the demolition and redevelopment of the old apartment buildings.
JHP Architecture/Urban Design is the project architect, TBG Partners is the landscape architect, and KWA Construction is the general contractor for the Commons.
The 1,300 apartments will range from 777 square feet to 1,281 square feet with private balconies or patios and feature one or two bedrooms.
Construction of the initial phase of the Commons — a four-story, 353-apartment structure — began in February and will be completed by February 2018. The first building will house a parking garage, clubhouse, fitness center and a lounge and conference area.
The entire redevelopment is expected to be complete by 2026 and will encompass 22 acres. The grounds will feature a swimming pool, several courtyards, a fire pit and an outdoor kitchen.
“This is a monumental project for KWA Construction, not only for the opportunity to work on a redevelopment of this scale and with such a high caliber team, but also knowing how truly transformative it will be for Arlington residents,” said KWA Construction Vice President Brian Webster in a news release.
- Key players: Bob Helterbran, Younger Partners; Robert Kembel, The Nehemiah Co.; City of Arlington; JHP Architecture/Urban Design; TBG Partners; KWA Construction
- Deal value: $200 million
- Size: 24 acres
- Address: 425, 501 and 525 E. Lamar Blvd., Arlington
— Evan Hoopfer
FINALIST: The Kathryn
The Kathryn at The Canals at Grand Park is part of a larger master-planned residential community two miles from downtown Frisco. The $60.4-million development will create 365 rentable luxury apartments and townhomes over 553,000 square feet.
- Key players: StreetLights Residential, City of Frisco, Arcadia Realty, TBG Landscape Architects, Looney Ricks Kiss
- Deal value: $60.4 million
- Size: 553,000 sq. ft.
- Address: 4255 Cotton Gin, Frisco
Evan Hoopfer is the Dallas Business Journal’s digital reporter.