DALLAS -- May 31, 2016 -- StreetLights Residential and partner Tricon Capital Group Inc. (“Tricon”, TSX:TCN) recently broke ground on phase two of a three-phase residential project within The Canals at Grand Park. The four-story apartment development, named The Maxwell, will add 325 new units to this robust neighborhood in Frisco, Texas. Apartments range in size from 502 to 1,806 square feet, offering studio, one-, two- and three-bedroom floor plans in addition to limited two-story floor plans known as "treehouse units." These two-story, two-bedroom treehouse units feature a game room and screened-in porch along with a private garage.
Following phase one of the StreetLights development, The Kathryn, which is now open for pre-leasing, The Maxwell combines exceptional design with ultimate convenience. The community provides easy access to the downtown Frisco area and accommodates residents with an active lifestyle where they can take a leisurely walk down the paseo which includes community fireplaces, TVs and tables with seating along the way. In addition to the paseo, the resident courtyard provides an open gathering area complete with grill stations and a fire pit. Other amenities include a coffee bar, lounge and resident kitchen/bar, along with an indoor/outdoor conference/dining area that opens up to a large covered porch.
The Kathryn and The Maxwell are just steps away from Founders Hall, a spacious community center offering indoor and outdoor activities for the entire south side of The Canals at Grand Park. Residents can gather with friends and relax by the pool or access the state-of-the-art athletic club.
The Canals at Grand Park offers superior living options for a wide range of residents, including townhomes, urban living, senior living and single family homes. The design integrates parks and lush green spaces, connecting the variety of developments within the community.
“The growth in and around the Frisco area is incredible with all of the corporate relocations and the new Dallas Cowboys practice facility. We are excited to add The Maxwell to The Canals at Grand Park community and contribute to the booming development of the Frisco landscape,” said StreetLights CEO Doug Chesnut. “The area presents many new opportunities for StreetLights to provide this fast-growing city with superior residential living. Further, this phase of the project has the ability to accommodate a versatile group of residents who want an active and growing urban lifestyle in a suburban setting.”
StreetLights’ goal for each project is to create a unique and engaging community from the outside in that begins with community-driven design. The Maxwell displays classic American and coastal gulf architecture with exceptional leasing and amenity spaces designed by LRK and 5G Studio. TBG designed the landscape for the numerous outdoor spaces on the property.
Other StreetLights Dallas-Fort Worth developments include The McKenzie, a 22-story residential high-rise, which recently broke ground in the Knox-Henderson neighborhood; The Jordan, a 23-story residential high-rise located just off McKinney Avenue in the Uptown area of Dallas, recently opened and is now leasing; The Kelton at Clearfork, a four-story residential community, comprised of 392 units, located in Fort Worth, Texas, is now leasing; Phase one of the three-phase, 1,050-unit master planned community in Frisco, The Kathryn - The Canals at Grand Park, is now pre-leasing with a mix of 365 flats and townhomes; The Austin (Trinity Green) is a four-story residential community, comprised of 353 units, located in the Trinity Groves area of Dallas; and, The Case Building is a 17-story residential high-rise in Dallas’ Deep Ellum neighborhood. For more information about The Jordan, The Kelton, The Kathryn, The Austin (Trinity Green) or The Case Building visit streetlightsres.com.
About StreetLights Residential
StreetLights Residential specializes in new urbanist apartment homes and mixed-use developments. Its business plan focuses on building around neighborhoods with the highest home prices (price per square foot). With in-house development, design, and construction expertise the StreetLights team focuses on building custom luxury communities which rival the experience, lifestyle, and amenities of living in an urban boutique hotel. Since StreetLights’ inception in 2011, the company has grown to more than 120 employees in its development and construction companies and has offices in Dallas, Austin, Houston, San Diego, Nashville and Phoenix. For more information, visit www.streetlightsres.com.
About SLR Construction
SLR Texas Construction was formed in 2011, with regional offices in Dallas, Austin and Houston. The core leadership of SLR Texas Construction has worked together for 15+ years and has completed several thousand multifamily units ranging in product type from suburban stick to luxury high-rise. The group prides itself on being able to successfully implement complicated urban, high density projects.
About Tricon Capital Group Inc.
Tricon is a principal investor and asset manager focused on the residential real estate industry in North America with approximately $2.8 billion (C$3.6 billion) of assets under management. Tricon owns, or manages on behalf of third party investors, a portfolio of investments in land and homebuilding assets, single-family rental homes, manufactured housing communities, and multi-family development projects. Its business objective is to invest for investment income and capital appreciation through its Principal Investment business and to earn fee income through the Private Funds and Advisory business. Since its inception in 1988, Tricon has invested in real estate and development projects valued at approximately $17 billion. More information about Tricon is available at www.triconcapital.com.
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