Dallas-based multifamily real estate development company Welker Properties announced a new project in Melissa that it says will establish it as a leader in the build-to-rent market in Dallas-Fort Worth.
The $95 million development, Wolf Creek Farms Melissa Build-to-Rent, will bring 343 Class-A units to Collin County.
“In the past 10 years, Dallas-Fort Worth’s population has increased by more than 20%, creating an increased need for housing,” Andrew Welker, founder and CEO of Welker Properties, said in a statement. “This project is designed with best-in-class specialists to create a community that optimizes resident satisfaction across generations.”
Leveraging the caution of other developers
Welker Properties said it’s leveraging the caution of other developers and doubling down on its resources to build and provide what it calls much-needed housing options for residents.
Located between U.S. Highway 75 and Sam Rayburn Tollway, the gated community will bring together the best aspects of single-family homes with detached units that have their own private yards, along with the flexibility, amenities, and maintenance-free living that comes with living at a Class-A apartment, Welker said.
Wolf Creek Farms’ amenities will include a resort-style pool, dog park, fitness center, resident lounge, multiple open courtyards, Wi-Fi in all common areas and units, and controlled property access.
The units will range from one- and two-car garages to cottage-style homes with the option to rent a detached garage.
Highly rated public schools and abundant retail and services, including McKinney Town Square, The Star in Frisco, and The Shops at Legacy are within easy reach of the community, Welker noted.
“Luxury BTR communities are emerging throughout the United States, especially in the Sunbelt markets. As these areas increase in popularity, we’re proud to prioritize BTR communities that provide residents with high-quality living and the opportunity to experience everything Melissa has to offer without the long-term commitment of homeownership,” the company added.
Construction start slated for this fall
Welker Properties plans to begin construction this fall. Development will take place over the next two years with the goal of completion by the end of 2025, the company said.
Welker Properties entered the multifamily industry in 2018 with a focus on both value-add multifamily opportunities and new development in areas with strong market fundamentals and the potential for high growth.
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