16-story apartment tower under construction on Lake Grapevine

Enchancment has kicked off on ancompletely different North Texas residential tower — this time in Flower Mound.

Dallas-based mostly Realty Capital Residential is constructing the 16-story extreme-rise in its 40-acre Lakeside Village on Lake Grapevine.

The constructing is The primary half of a $500 million development That options the ahalfment tower, a luxurious lodge, workplaces and retail.

Referred to as 3111 Sundown, the 207-unit constructing will embrace one, two, and three-bed room tower residences, townhomes, 6,000 sq. ft of retail and restaurant space and a 5-diploma parking storage.

The mannequin new constructing is shut to the developer’s 15-story Lakeside Tower condominium constructing, which opened in 2020.

A rendering displaying the scope of the Lakeside Village enterprise.(Merriman Anderson Architects )

“After Engaged on and advertising The primary residential tower in Lakeside — Lakeside Tower — we found An excellent deal about what amenities and constructing options residents want,” Realty Capital Residential president Alex Brown said in a ready assertion. “3111 Sundown provides An beautiful dwelling selection for empty nesters and retirees that presently stay in huge homes in Southlake, Colleyville, Flower Mound and completely different neighboring suburbs.”

Brown said potential consumers are looking for to downsize and “stay a low-upkeep way of life.”

“They want an distinctive place to stay that additionally provides distinctive providers,” he said.

Models Inside the constructing will common 1,485 sq. ft. The property Might have a sixth-flooring landscaped pool deck with lake views.

Worldwide funding supervisor Barings provided construction financing for the enterprise. Chicago-based mostly Creek Lane Capital shaped a enterprise with Realty Capital Residential to fund the enterprise. Archer Western is The general contractor.

Enchancment is scheduled to be accomplished by early 2025.

The extreme-rise is An factor of The final part of the 160-acre Lakeside development, a mixed-use group on Prolonged Prairie Road in Flower Mound.

Realty Capital has been creating Lakeside since 2011, and the property now totals virtually $1 billion in worth. About $1.5 billion extra in construction is deliberate Inside The final parts.

The enterprise Is merely Definitely one of a quantity of Dallas-space residential extreme-rises deliberate To start out construction.

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