Southern Land Company, a multi-faceted real estate development company based in Franklin, Tennessee, and NXT Capital, a commercial finance company, based in Chicago, have announced a new upscale apartment community to be located in Historic Downtown Plano.
“You have all the quaint charm of its Historic Downtown, with easy access to employment in Dallas. It’s perfect for those who enjoy the excitement, but need someplace a little less hectic to unwind.”
The mixed-use development is a public-private partnership between Southern Land, NXT, and the City of Plano.
“Southern Land is bringing an important and exciting addition to our downtown,” said Plano’s Deputy City Manager Frank Turner. “The market demand is very strong for urban housing within a short walk of shops, restaurants and light rail transit. It just doesn’t get any better than Downtown Plano and Southern Land.”
The official groundbreaking ceremony will take place at the site on August 22. The project is scheduled for completion in early spring of 2014, and is valued at more than $30 million.
Southern Land’s existing Dallas-area developments include Arthouse in Keller, The Lofts at Watters Creek in Allen, and Tucker Hill in McKinney.
“Plano is such a fantastic community, and its downtown has both a traditional and modern charm,” said Lacy Lineweaver, Southern Land’s Regional Manager. “We have put a great deal of thought into this project, with significant support from the city. We’re very pleased to be moving into the construction phase.”
Southern Land’s new development addresses the growing demand for additional apartments in Plano. It will feature 279 units and 9,000 square-feet of retail space, including an urban 7-Eleven store. The apartment units will include upscale and modern interior finishes. Amenities will include a fitness facility, pool, and other conveniences that support active lifestyles. Location will perhaps be the most prominent amenity, as the community offers convenient access to the abundant shopping and dining of Historic Downtown Plano.
As a transit-oriented development (TOD) project, the community is across the street from the DART’s Downtown Plano Station. Located on the North Central Segment of the Red Line, the station is a nationally recognized model for mixed-use TOD. This proximity to the DART line offers an option for professionals who are seeking an alternative to living in downtown Dallas.
“Plano provides a living situation with the best of both worlds,” said Lineweaver. “You have all the quaint charm of its Historic Downtown, with easy access to employment in Dallas. It’s perfect for those who enjoy the excitement, but need someplace a little less hectic to unwind.”