The Dallas–Fort Worth multifamily market was already one of the nation’s hottest in the beginning of 2017, and it remains so. Currently, the market has 50,588 apartments under construction (second only to New York City), with 30,000 or more expected to be complete by the end of the year, according to the Dallas Morning News:
“Seems like forever I’ve been quoting folks that the pace of apartment building in North Texas is sure to slow soon,” wrote Steve Brown, the paper’s real estate editor. “I wouldn’t count on that.”
Thirty percent of the units under construction are in the north end of the market, in Frisco-Proper, Allen/McKinney, and Richardson, while 11% are in the market’s city center. Many of the new buildings are mixed-use, New Urbanist, luxury communities, built to appeal to the city’s influx of young professionals.
Right now, the two largest projects by square footage under construction in D-FW are some of these New Urban-style ones, and are both in Frisco (Wade Park and Frisco Station). Other notable multi-family projects include various towers in central Dallas, and mid-rise lofts in Fort Worth. The 3rd largest construction project right now is the Toyota Corporate Campus, in Plano, and while it is strictly commercial/office, it too provides a window into the nature of D-FW’s apartment growth.
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