FORT WORTH--Dallas-based real estate equity firm RCP Properties LLC (RCP) and Ventures Development Group LLC have formed a joint venture to develop a 209-unit luxury apartment community in the Fort Worth's Hospital District.

The project will be located on 2.12 acres of land at 400 S. Jennings Ave. The immediate area is home to five major hospitals.

“The Medical District is becoming an ever-more appealing location not just to work, but also as a place to live,” Blake Lugash, president of RCP, told GlobeSt.com. “We believe there is strong demand for high-end rental housing in this vibrant and growing neighborhood, and we have found ourselves a terrific site where we can offer an outstanding product.”

Ventures Development Group most recently completed the development of the 170-unit Phoenix apartment community which is also located in the Medical District.

“We're excited to deliver another quality multi-family development to the Near Southside,” said Rob McConnell, principal of Ventures Development Group LLC, in a release. “Views of the downtown skyline will be phenomenal, and access to the hospitals and downtown employment centers is just minutes from our site.”

The yet-to-be named community will feature a resort-style pool, fitness center, multiple lounging areas and an outdoor lounge on the fifth floor with panoramic views of downtown Fort Worth. Residents are scheduled to move in beginning in the fall of 2016.