The next phase of luxury apartments at The Realm at Castle Hills, a master-planned community in North Texas, is getting underway after the quick lease-up of the initial phase of the community, bringing hundreds of new apartments to the region.
The four-story, 312-unit apartment community at 3500 Bans Crowns Way in The Colony, the second phase of Discovery at The Realm, sits along the Sam Rayburn Tollway corridor in Lewisville, Texas. The second phase includes a dog park, a second fitness center, bocce ball court, fire pits and an extensive trail system, according to a statement from the developer, Bright Realty. Construction should be completed in late 2020.
In leasing up the initial phase of Discovery at The Realm, Bright Realty Chief Executive Chris Bright said residents told the company they wanted apartments that allow them to upgrade over time without having to leave the community.
"They are telling us they want the advantages of a suburban setting while living in a walkable, urban-type setting," Bright said in a statement. "Texas continues to be the top destination in the country for business, and people who live and work here need a variety of residential products to choose from.“
North Texas' population has grown with the in-migration to a population of 7.5 million people, which makes the region the No. 4 largest metropolitan area in the United States. The Realm at Castle Hills sits within miles of Toyota North America's new corporate campus in Legacy West in Plano, Texas, as well as JPMorgan Chase's growing regional hub. Construction is readying to begin on the bank's newest -- and tallest -- addition in the coming weeks.
Bright Realty teamed up with a California investor to bring a new nine-story, multitenant office building at The Realm at Castle Hills. The building will also include a first-floor restaurant and retail space.
Other projects underway at Castle Hills includes another five-story, 260-unit apartment community, an 80-unit condo project and The Cottages at The Realm, which is a new home rental community. Bright Realty also plans to begin construction on Crown Centre, a corporate campus-anchored mixed-use development.
