(Read more onthe multifamilymarket.)
FRISCO, TX-After sizing up the demographics, Tonti Propertieshas decided to go the distance to develop the first EnergyStar-qualified multifamily complex in North Texas. The 270-unit LaValencia at Starwood carries an all-in development tab of $30million.
Rick Perdue, vice president of acquisitions and development forthe Dallas-based developer, tells GlobeSt.com that the extraenergy-efficient measures added roughly 2% to the cost, but theinvestment will return a premium over the long haul for La Valenciaat Starwood, a 15-acre project planned for 6805 Lebanon Rd. "Wedon't want to build a product that five years from now is going tobe outdated due to mandates," he says.
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