Dallas-based Stillwater Capital is set to build a $64 million townhome project in Mansfield within the expansive 200-acre mixed-use development known as the Reserve.
The Reserve is slated to include 464,000 square feet of townhome development, according to documents filed with the state. Construction is scheduled to kick off this November, with completion expected in 2025, the Dallas Business Journal reported.
In a recent announcement, Stillwater Capital revealed plans for a multifamily development boasting a staggering $100 million price tag within the Reserve. The development will encompass a total of 443,000 square feet. Groundbreaking for the project is set for July. The project is expected to be ready for residents in 2025.
As previously reported by The Dallas Express, North Texas has been going through boom times in terms of development and population growth. Cities like Mansfield, Frisco, Plano, and Fort Worth have been reaping the benefits of the dynamic. Unfortunately, builders are showing less interest in Dallas, which has actually lost population in recent years.
Overburdensome regulations and slow permitting times have reportedly made the city less than ideal to build in, as reported by The Dallas Express.
Clay Roby, managing director at Stillwater Capital, expressed enthusiasm over the latest multifamily project in Mansfield. According to the DBJ, he said, “This is the next phase in a 200-acre, master-planned development by Stillwater. The Reserve is the ‘town center’ of Mansfield, and at full build-out, the walkable mixed-use district will include office, retail, residential hospitality, and entertainment.”
Once completed, the townhome development will feature a four-story building alongside two three-story buildings, offering residents a range of unit options. The project will also include a pool, an amenity center, and a dog park.
Stillwater Capital’s footprint in North Texas has been growing steadily, with the firm recently unveiling plans for a new build-to-rent community near Frisco, strategically located near the PGA of America headquarters and Omni PGA Frisco Resort.
Looking ahead, the company has its sights set on a $70 million multifamily project in Frisco. The forthcoming apartment project is expected to encompass 352 units, according to the DBJ.
