Boston, MA – (February 28, 2019)
GID announced today the formation of a joint venture partnership with JLB Partners to develop “Lot E”, an apartment community located in the Dallas suburb of Richardson, Texas. Construction will commence in March 2019 with first units projected to deliver second quarter of 2020. This is the first development venture between GID and JLB Partners.
Located within the CityLine mixed-use development, the community will include 306 apartments in a five-story building. Amenities will include a resort-style pool, fitness center, a golf simulator lounge, dog run, club room, conference areas, two private courtyards and conditioned corridors. The property will be constructed adjacent to CityLine Market, a 100,000 square foot retail center anchored by a 40,000 square foot Whole Foods. Unit finishes will consist of ten-foot ceilings, engineered hardwood flooring in the kitchens and living rooms, 3cm quartz countertops with undermount sinks, tile backsplashes, and stainless steel appliances with slide-in gas ranges.
Gary Kroll, Senior Vice President and Director of Central Region Acquisitions at GID commented, “The location offers walkability to local employment anchors, retail, and access to employment nodes along I-75 via DART. GID is pleased to expand our Dallas-Fort Worth portfolio with our fourth suburban DFW investment.”