After getting started on a massive $1 billion
corporate campus near Nebraska Furniture Mart, Lewisville-based Bright Realty has kicked off a new $75 million, 4,000-home luxury apartment development.
The developer plans to get started on the first phase of the project, known as Discovery at The Realm, alongside State Highway 121 south of Windhaven Parkway in Lewisville later this month.
Bright Realty President and COO Eric Stanley said the decision to start the project comes on the heels of corporate newcomers settling in the nearby corridor, such as Toyota North America, Nebraska Furniture Mart, and FedEx Office.
With the employment growth rate in Dallas-Fort Worth at a consistent incline, the population will continue to expand and thrive, which will ultimately require housing to those employed in the area, said Stanley, in a statement.
The initial phase of the project will sit on more than 20 acres of land, with the first apartment homes scheduled for completion in April 2016.
Plans for the new residential community include a number of apartments buildings within a walkable community, which includes trails, parks and resort-style swimming pools. The development will also include a lakeside promenade, concierge service and spa.
This project will sit next to the new Castle Hills Marketplace shopping center, which is currently under construction at State Highway 121 and Josey Lane.
Bright Realty is working with 505 Design in Boulder, Colorado, LandDesign in Charlotte, North Carolina, and BB+M Architecture, also of Charlotte. Dallas-based Andres Construction Services is the projects general contractor.
The new community will be part of larger development at Castle Hills, which will be known as The Realm at Castle Hills. The overall project will include more than 5,000 apartment homes and 1.4 million square feet of retail, office, restaurant and theater on a total of 324 acres.
This project is a milestone for Bright Realty after CEO Chris Brights father H.R. Bum Bright got his start in real
estate more than six decades ago, Bright said.
With Discovery, we are getting back to our roots, but with a modern twist," he said.
Dallas Business Journal