GRAND PRAIRIE, Texas, Nov. 19, 2020 /PRNewswire/ -- Wood Partners, a national leader in multi-family real estate development and acquisition, recently closed on a new property on S. Forum Drive in Grand Prairie, Texas. Once complete, the new community - tentatively called Alta 161 - will include 322 units comprised of one, two- and three-bedroom apartment homes. Construction is set to begin in November with an estimated community opening date of late 2021.
The new community will offer a prime location between Dallas and Ft. Worth with access to major employment hubs, a variety of retail and everything the burgeoning region has to offer. There are a wide range of nearby recreation activities, including Six Flags, AT&T Stadium, Epic Waters Indoor Waterpark, the Dallas Zoo, and numerous golf courses and local parks. Prime retail in the area includes the popular Grand Prairie Premium Outlets and IKEA.
"The 161-Corridor has seen explosive growth in recent years, and we are looking forward to joining the neighborhood with Alta 161," said Ryan Miller, Managing Director. "The proximity to Downtown Dallas and convenient access to opportunities across the region will make the new community a desirable living location for a wide range of potential residents."
Alta 161 is conveniently located near the I-20 and George Bush Tollway interchange. The I-20 and I-30 industrial economic centers host thousands of employees within a 15-minute drive. Major employers in the area include Lockheed Martin, Bell Helicopter and Airbus, along with local college campuses at UT Arlington and Tarrant County College.
Alta 161 will feature state-of-the-art amenities including a clubhouse, modern fitness facility with yoga and digital fitness programming, outdoor spaces for socializing, a resort-style pool with tanning ledges, barbecue grilling areas and fire pits. The community will also have unique outdoor spaces including an expansive wooded dog park with rolling terrain and a walking trail with Texas prairie landscaping.
About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages multifamily communities. The company has been involved in the acquisition and development of more than 85,000 multifamily homes with a combined capitalization of more than $15.6 billion nationwide. The company currently owns 68 properties across the United States with a combined total of more than 18,000 homes. Wood Partners has offices in 20 major markets nationwide including Atlanta, Austin, Boston, Charlotte, Chicago, Dallas, Denver, Houston, Los Angeles, Nashville, Orange County, Orlando, Phoenix, Portland, Raleigh-Durham, Salt Lake City, San Francisco, Seattle, Washington, D.C., and West Palm Beach.
Wood Partners Closes on New Property in Dallas-Fort Worth Area
Once complete, the new community will include 322 units comprised of one-, two- and three-bedroom apartment homes.
SOURCE Wood Partners