Kiora Park, with one- and two-bedroom units, will come on line in July 2007 at 9300 Coit Rd. Units range from 669 sf to 1,484 sf; rents are set at $736 to $1,786 per month.
Unlike Legacy's other in-process product, Kiora Park has been designed with a one-acre park. "It's certainly an amenity with this project. We like to vary designs and see how well they're received," Matthew Hyder, development associate in Dallas/Fort Worth for the Foster City, CA-based Legacy Partners, tells GlobeSt.com.
General Electric Capital Corp. is Legacy's equity partner. Guaranty Bank of Dallas provided financing, including the site acquisition brokered by Charles McCallum Jr. of McCallum Properties. The development tract sits near the intersection of Coit Road and Texas 121.
"We feel demand for a project of this caliber is very high," Spencer Stuart Jr., Legacy's senior vice president and partner in Dallas, says in a press release. "Plano continues to be acclaimed as one of the best places to live in the Dallas/Fort Worth metroplex due to its combination of quality of life, environment initiatives and economic development."
Likewise, Legacy's tapped comparable sites with strong demographics for its other in-process product--the 258-unit Delano in the Las Colinas Urban Center in Irving and 278-unit, mixed-use Venue in Galatyn Park in Richardson.
Kiora Park will be a gated development with a New Zealand theme. Womack + Hampton Architects LLC of Dallas is the architect and EnviroDesign Inc., also from Dallas, is the landscape architect. Legacy Builders is the general contractor.
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