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October 21, 2013

TDI Breaks Ground on Las Colinas Luxury M-F, Opens High-End Community in Allen

By Amalia Otet, Associate Editor

TDI Real Estate has broken ground on Jefferson Las Colinas, a 386-unit luxury multi-family community in Irving.

Located near the intersection of Northwest Highway and Las Colinas Boulevard, the high-end community will offer one-, two- or three-bedroom floor plans ranging from 572 to more than 1,400 square feet. Units will feature granite countertops, designer appliances, 10-foot ceilings and full-size washers and dryers. Common amenities include a resort-style pool, business center and conference room, Wi-Fi hotspots, a coffee bar and a modern fitness center.

“This is a high-profile location and the ideal setting for this project,” said Matt Brendel, TDI vice president & area partner. “These homes will have extraordinary access to highways as well as the DART light-rail system, which provides easy access to Plano, Richardson, Downtown Dallas and will reach D/FW airport by 2014.”

Financing for the project was provided by Texas Capital Bank, and PCCP LLC was the mezzanine lender, according to the Irvine-based developer.

Additionally, TDI recently completed construction on the first apartment homes of a 444-unit luxury apartment community in Allen.

Dubbed Jefferson Creekside, the upscale rental complex is located near the intersection of Custer Road and Highway 121, north of Dallas, in close proximity to major employment centers in or around Legacy, Granite and Hall office parks as well as fine shopping and entertainment destinations such as the Allen Premium Outlets and Rowlett Creek Trail.

Jefferson Creekside features a mix of one-, two- and three-bedroom apartment homes ranging in size from 650 to more than 1,400 square feet. The community boasts exclusive amenities including high-end finishes, a resort-style swimming pool with aquatic sunning ledge and tanning spa, a business center and conference room, Wi-Fi hotspots, an open-air cinema, a coffee bar and a state-of-the-art fitness center.

The construction loan was provided by Texas Capital Bank; Behringer Harvard Multifamily REIT I Inc. was the mezzanine lender, and Catlyn Capital provided the equity, according to official statements.

As a leader in the development of Class A multi-family housing, TDI currently has more than 2,100 units under development in Texas and Arizona and has asset management responsibilities for 4,800 units nationwide.

Photo credits: Jefferson Creekside official website

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