Multifamily development firm Presidium has broken ground on a 340-unit luxury apartment community in Fort Worth, Texas, marking the start of the second phase of a 1,100-unit residential development by the company on the city’s north side.
Texas-based Presidium broke ground on Presidium Berkshire, a 352,000-square-foot community designed by Dallas-based firm O’Brien Architects. The property is rising on a 12-acre site near Alliance Town Center, an entertainment district about 10 miles north of downtown Fort Worth.
A unit mix has not yet been announced by the developer, but apartment interiors will include high ceilings, wood-inspired flooring, energy-efficient appliances, and walk-in showers with garden-style tubs. Common amenities at the community will include a clubhouse with gaming tables, a speakeasy-style bar, a business center, private office and conference rooms, a two-story fitness center and 38 private garages.
Additional amenities include a dog park, pet grooming station, car wash, swimming pool, second-floor roof deck and an outdoor kitchen area. The project is slated for completion in the second half of 2022.
GROWING AREA
Presidium recently completed the first part of its three-phase residential development plan with the delivery of Presidium Revelstroke, a 408-unit luxury community with a mix of one-and two-bedroom apartments. Presidium financed the project with a $57.6 million construction loan from ACORE Capital in August 2019, according to Yardi Matrix data.
John Griggs, co-founder & co-CEO of Presidium, said in prepared remarks that there is strong demand for luxury apartments in north Fort Worth due to the area’s “explosive growth,” which has drawn major companies and is quickly becoming one of the biggest logistics hubs in the country.
The third and final apartment community to be developed by Presidium as part of the plan has yet to be announced, but will have 350 units, according to the developer. Last August, Presidium broke ground on a 290-unit rental community in Dallas County dubbed Presidium Hill Street. The project is expected to be completed in mid-2022.
