DALLAS – The NRP Group has purchased a 10-acre plot of land in the Bear Creek Riverwalk development in Euless, TX. While the land is zoned for single-family residential, multifamily and commercial use, the new owner plans to build 300 urban apartment units.
“We are looking forward to bringing sleek and sophisticated apartment homes to this thriving location at the center of the Dallas/Fort Worth area,” says Mark Johnson, the NRP Group, in a statement.
The property is located in the northwest corner of Highway 183 and Highway 360, near the DFW International Airport.
“Bear Creek Riverwalk is the perfect location for convenient living,” Johnson says. “It’s just minutes away from the DFW Airport, within easy reach of employers throughout north Texas and near great entertainment and shopping, such as in Southlake and Grapevine, two regional lakes, as well as all of the shopping and dining a city dweller desires.”
The property was initially purchased by Stratford Land three years ago.
“When Stratford acquired the property in 2011, we knew the location was exceptional,” says Steve Sanders, Stratford Land’s senior investment manager for Texas. “NRP’s decision to build at this location affirms our investment, and we are excited to see the multifamily area of Bear Creek Riverwalk come to life.”
Construction on the 300-unit project is slated to begin this summer. Stratford hopes the retail component will soon follow.