Rodgers also takes the title of executive vice president for Winston Property Development while holding onto his company, Ascension Interests Inc., formed after he left the fold of First Worthing.

The Winston team intends to develop, redevelop and acquire--a philosophy that principal Richard Barge used in climbing the ladder of success as one of Dallas' Hartex boys, a trio that parlayed acquisitions from the RTC and savings and loan debacle into a multi-million-dollar hierarchy and then sold the operation in 1999. Hartex's final holding just passed the closing table.

Barge's teaming with Jason L. Nix and Roger F. Johnson on Dallas-based Winston Capital has attracted backing from sundry high net-worth individuals and institutions. Winston's headline news deal this year has been the pending acquisition of Louisiana Downs in Bossier City, LA from the Edward J. DeBartolo Corp. The latest scoop, though, is that Winston has sold its interest to a related partner in Louisiana, Barge confides to GlobeSt.com. He won't say who bought the majority stake, but did say Winston is no longer spearheading the purchase and $175-million racetrack expansion.

Now, Winston is focused on building a development company for varied projects, but primarily mixed-use designs with multifamily components, with the exception of that Central Dallas land buy. It will be strictly multifamily. The closing will come in 60 days and construction most likely in six months. And that's all Barge is revealing right now.

In two months, Rodgers, who also once worked for JPI, kicks off his first redevelopment for Winston--a $9-million project on 2.1 acres at the intersection of Cedar Springs and Wycliff. The 75-unit Prescott Apartments will be razed and another 75-unit version raised in its place. Fusch-Serold Architects of Dallas has designed the project. Its general contractor has yet to be selected.

In nine months, construction takes off on a second development at Mountain Creek, where Winston owns 60 acres just south of Interstate 20 in Dallas County. The project will complement but not be a second phase to its 232-unit Austin Bluffs. Winston has reserved 15 acres for a retail project. And a few years from now, the team hopes to be redeveloping the 336-unit Green Valley Apartments, a 23-acre holding at the soon-to-open light-rail station at Spring Valley in Richardson.

The pipeline might look filled, but there's always room for more. Rodgers says he's got his eyes peeled for acquisition opportunities, mostly in Texas, as he "evaluates" the existing portfolio.

Barge emphasizes Winston isn't going to be a merchant builder. It will remain a "closely held, private company with long-term appreciation," he says. The current portfolio contains 5,168 units in Texas' four metropolises; 20,662 acres with 30 miles of waterfront in Beaufort County, SC; and 2,398 acres in North Douglas County, CO.