StreetLights Residential, along with Toronto-based investment firm Tricon Capital Group Inc. (Toronto Stock Exchange: TCN), has begun development on a new luxury apartment community within The Canals at Grand Park in Frisco.Dallas-based apartment developer
In all, the community — named The Maxwell — will add 325 apartment homes ranging from 502 square feet to 1,806 square feet with one-, two- and three-bedroom floor plans, which also include a limited number of two-story, two-bedroom apartments with a game room and screened-in porch alongside a private garage.
The growth in and around the Frisco area with the new Dallas Cowboys practice facility and a number of corporate relocations helped drive the development of The Maxwell, said StreetLights CEO Doug Chesnut.
"The area presents many new opportunities for StreetLights to provide this fast-growing city with superior residential living," Chesnut said, in a statement. "Further, this phase of the project has the ability to accommodate a versatile group of residents who want an active and growing urban lifestyle in a suburban setting."
The Canals at Grand Park have a variety of living options, including apartments, townhomes, senior living and single-family homes. The community is woven together with the help of parks and green spaces.
The Maxwell is the second StreetLights phase in connection with The Canals at Grand Park. The Kathryn, another Frisco apartment community in the near vicinity, is now open for pre-leasing. Each project is steps away from Founders Hall, which is the community center at The Canals at Grand Park.
The Maxwell's amenity and leasing center showcases classic American and coastal gulf architecture by LRK and Dallas-based 5G Studio. TBG is the landscape architect on the project.
StreetLights has a number of other apartment communities in North Texas in various stages of development, which include The Jordan in Uptown, The Kelton at Clearfork in Fort Worth, The Austin in Trinity Groves and The Case Building in Deep Ellum. Tricon Capital invests in real estate projects throughout the globe.