High Street Residential, a subsidiary of Dallas-based Trammell Crow, has kicked off construction of a 370-unit multifamily development in Allen.
High Street announced the plans for the apartments, called The Montgomery, this week, and the project is being developed in partnership with Principal Real Estate Investors. Construction is expected to be completed by the end of 2022.
The five-story building will span 314,728 square feet and include 370 residential units.
The Montgomery is a Class A, wood-frame project that will include a mix of one-, two- and three-bedroom apartments. Residents will have access to a six-story structured parking garage along with an amenity collection that includes a fitness center, dog park, business center and co-working lounge, package room, a micro-market for grocery essentials, clubroom, and a resort-style pool area.
The apartment community will have direct access to the Watters Creek hiking and biking trail.
“The Montgomery is an incredibly well-located development in North Texas, both due to its accessibility to major markets via US 75 and its walkability to nearby dining, shopping and entertainment options at Watters Creek and Montgomery Farms,” Joel Behrens, principal with High Street Residential, said in a prepared statement. “We are pleased to have started construction on the project and look forward to working with our partners to deliver a high-end community that will meet the rising demand for multifamily housing in this area.”
The development team plans to pursue Bronze Certification through the National Green Building Standard for The Montgomery by incorporating features that promote a healthier environment for occupants. Some of those will be an outdoor fitness area, walkable amenities and enhanced outdoor courtyards.
Located at 1280 Montgomery Boulevard, The Montgomery is situated on 7.7 acres of land.
JHP Architecture is designing the development and Andres Construction will serve as general contractor.
In the last 15 years, Dallas-based High Street Residential has completed over $1.8 billion in projects and has a current pipeline of nearly 3,100 units. The company has previously built large multifamily projects in Carrollton, Plano, Uptown Dallas and Dallas’ Knox Street neighborhood, among other neighborhoods.
The company ranked eighth last year in the number of DFW multifamily units developed, according to Dallas Business Journal research.
Principal Real Estate Investors manages or sub-advises $88 billion in commercial real estate. The firm’s real estate capabilities include both public and private equity and debt investment alternatives.