(Read more on the multifamily market.)

FRISCO, TX-After sizing up the demographics, Tonti Properties has decided to go the distance to develop the first Energy Star-qualified multifamily complex in North Texas. The 270-unit La Valencia at Starwood carries an all-in development tab of $30 million.

Rick Perdue, vice president of acquisitions and development for the Dallas-based developer, tells GlobeSt.com that the extra energy-efficient measures added roughly 2% to the cost, but the investment will return a premium over the long haul for La Valencia at Starwood, a 15-acre project planned for 6805 Lebanon Rd. “We don’t want to build a product that five years from now is going to be outdated due to mandates,” he says.

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