Developers are gearing up to start a Denton County mixed-use project.
In January, Realty Capital Residential purchased 20 acres on Interstate 35E at Corinth Parkway, southeast of Denton.
The Irving-based real estate company announced plans for the project called Parkway District, which will include 22,000 square feet of retail and restaurant space, 293 apartments and 19 townhomes and a hotel built along a central linear park.
“As one of the most visible sites remaining in Corinth, Parkway District offers the best opportunity to create a landmark project with high visibility along the I-35E corridor,” said Realty Capital’s Austin Gray at the time of the site purchase.
The developer plans to start construction during the next few months on Parkway Lofts, a $58 million multifamily residential community.
The 421,618-square-foot development will include “single-story apartment units located in four-story apartment buildings with elevator service along with contiguous multi-level townhome style units,” according to planning documents filed with the state.
Construction on the Parkway Lofts project is estimated to take two years.
Dallas-based architect 5G Studio Collaborative is designing the development.
Realty Capital Management, founded in 1987, has developed nearly 200 projects in Texas and Colorado.
In January, the developer broke ground for an apartment high-rise in Flower Mound overlooking Lake Grapevine.
Denton County is seeing an uptick in apartment development with growing population in the area north of Dallas.
Dallas-Fort Worth is the country’s fastest growing apartment market with more than 70,000 rental units under construction.
