Fort Washington-based developer Toll Brothers is staking a business claim in the Dallas area. It’s purely a residential real estate venture, with presumably no sign of the local company swapping hometown football allegiances. Toll Brothers will be pairing with Chicago-based real-estate trust Equity Residential to invest up to $1.9 billion worth of projects in capacity, writes Bill Hethcock for the Dallas Business Journal.
The projects include multiple luxury apartment communities, including:
- The Lyle in Dallas
- The Settler in Fort Worth
- Remy in Frisco
The total is 1,053 units. Equity Residential will invest 75 percent per project, and Toll Brothers will invest 25 percent per project.
President of Toll Brothers, Charles Elliot, said that both companies will focus on “higher-growth” areas in the country. This includes Austin, Orange County, California, Boston, Seattle, and Denver.
Elliot provided a deeper look at the three projects.
“Our site we call the Lyle is in North Dallas and has 334 units,” he said. “We also have a site in Frisco Town Center we’re calling Remy. Frisco Town Center has been an important neighborhood for us. We typically look for town centers with walkability. This is our suburban infill site.
“And then we have another project over in Fort Worth called The Settler. That’s in the River District. It’s 362 units. It’s a … mix of residential uses that includes multifamily, but also single family and duplexes.
“They’re all interesting neighborhoods for us, and we’re really excited to have three premium locations to [begin] our partnership with Equity Residential,” he concluded.
Read more about Toll Brothers/Equity Residential collaboration in the Dallas Business Journal.