Dallas-based property firm Bridgeview Multifamily has purchased building sites in Arlington and Denton with plans to build two apartment projects.
Developers building millions of square feet of data center projects in North Texas still can’t keep up with demand. Almost 5 million square feet of data center space is under construction or planned.According to Bridgeview, Arlington’s rental market is 94% occupied, with an average rent of $1,254 a month.
In Denton the developer plans to build 15 three-story apartment buildings with one- and two-bedroom units, averaging 875 square feet. The rental community will include a clubhouse, pool and dog park. The development site is at East McKinney Street and Hummingbird Lane, near the company’s 288-unit Denton Forest Crossing apartments.The builder has six developments with an additional 1,966 apartments in the pipeline for sites in Texas. Bridgeview Multifamily is an affiliate of investor BV Capital.
“There is a significant housing supply and demand imbalance in Texas,” BV Capital president Rob Anderson said in a statement. “We just don’t have enough units to keep pace with in-migration trends.”apartments at 1900 Hi Line Drive northwest of downtown Dallas. The property was built in 2018 and includes more than 200 rental units. The investor is also building a 7.8-acre apartment project in Mansfield.
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