(Read more on the multifamilymarket.)
WYLIE, TX-Opus West Corp. and Alliance Communities aredeveloping their second Broadstone-flagged development in NorthTexas, tapping into a northeastern suburb that hasn't had any newclass A rental product in five years. Estimated to cost more than$20 million, the 303-unit Broadstone Woodbridge will be completedin March 2009.
The development JV acquired the 20.5-acre site along WoodbridgeParkway in August, started dirt work in September and expects to govertical sometime in November. “We've been looking in Wylie, Sachseand Murphy for over one year,” Brian Tusa, an Alliance partner anddevelopment director, tells GlobeSt.com. “There are very fewmultifamily sites available in that area.”
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