300 Unit Garland, Texas – Class A Multifamily Development

July 6, 2018

Northside at Woodlands will sit on 17.21 acres and will consist of 216 one bedrooms, 72 two bedrooms, and 12 three bedrooms. This will be a low-density development with 20.8 units per acre, and will have an average unit size of 827 square feet for a total of 248,220 net rentable square feet. The 4 buildings that make up the project will be comprised of 2 different building plans: Residential Type I and the Clubhouse building. The project will have 48 detached garages, 66 reserved parking spaces, and the remainder of the property will be parked by 387 open surface parking spaces. The total parking ratio for the project will be 1.66 parking spaces per unit with a total of 501 parking spaces provided. The residents will have access to a clubhouse and pool, and the eastern edge of the property will back up to a greenbelt and creek.

Projected IRR’s on the deal level are 38.7%.

Contact Steven Weiss at (212) 716-5631 or email me at sw@carltongroup.com for more information.

 

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300 Unit Garland, Texas – Class A Multifamily Development