Construction on an $86 million apartment community at Fairview Town Center is set to begin next month. Lincoln Property Co. bought the 200-acre property on U.S. Highway 75 and Stacy Road in 2017.
Lincoln has spent $50 million on upgrades to the retail and restaurants on the Fairview Town Center property and is now constructing a 620,000-square-foot, 375-unit apartment community.
The apartments, set to open in early 2024, were designed by the Dallas-based architecture firm WDG Architecture.
Five Dallas-Fort Worth metroplex cities are among the top cities in the country for planned apartment construction in 2022: Dallas, Fort Worth, Arlington, Lewisville, and Irving.
Dallas issued 251% more multifamily building permits in 2021 than in 2020.
As people emerge from the COVID-19 pandemic, there is more of a demand for housing close to work, restaurants, and nightlife.
Nationwide, more apartments are scheduled to be built this year than in any other year since the 1980s. Dallas is the country’s fourth fastest-growing apartment market, with over 32,000 units under construction.