ROSEWOOD PROPERTY COMPANY BEGINS CONSTRUCTION OF NEW MULTI-FAMILY COMMUNITY IN PLANO

Rosewood Property Company began construction on a new multi-family development at the Heritage Creekside mixed-use development with MetLife Investment Management as a partner. The new development in Plano, Texas is expected to be completed in 2024.

Located at 601 Belpree Drive, the modern community will consist of 326 apartments over four floors, with the property spanning 4.29 acres. The apartments will feature designer finishes with high-end appliances and fixtures. Common areas will include a highly appointed club room, co-working and creative space, high-end fitness center, golf simulator, luxury pool and multiple enabled courses. Residents will also benefit from easy access to a restored creek bed of Pittman’s Creek and other existing creeks and tributaries, blending nature with community.

“We are thrilled to open our next phase at Heritage Creekside, which brings us one step closer to establishing a new standard of living for the area,” said Tim Harris, vice president of Rosewood Property Company. “This new development was designed from the ground up to cultivate community among residents, as well as the surrounding neighborhoods. We have worked hard over the years with the city and nearby residents to create a great community that benefits the entire Plano community.

The apartments are expected to be available for rent in the fall of 2023 and move-ins will begin later in the year. The community is expected to be fully completed by 2024.

“We are very pleased to begin our partnership with Rosewood through the development of Heritage Creekside,” said Adam Ruggiero, managing director and portfolio manager at MetLife Investment Management (MIM). “The project fits well with our build-to-core strategy, which is an integral part of our core and core-plus investment approach. We are also confident about the future of Plano and the Metroplex as a whole, and welcome the opportunity to grow our presence there.

Rosewood developed and owns Heritage Creekside, a 156-acre mixed-use development near the intersection of Central Expressway and the President George Bush Turnpike. The development includes restaurants such as Flying Fish, Rodeo Goat and the soon-to-open Taco Joint, as well as Orangetheory Fitness. To complete the live-work-play aspect, this multi-family community will join additional single family homes, townhouses and apartment communities.

The design team included Hensley, Lamkin, Rachel Inc. as architect, LandDesign as landscape designer, B2 Architecture + Design as interior designer, and KFM as civil engineer. Provident General Contractors is serving as the contractor, with Veritex Bank providing the construction loan.

Rosewood Property Company has a long history of multi-family development and investment in the DFW area, including Creekside Townhouses in Richardson, Republic House in Frisco Bridges in Frisco, and Wildwood Creek in Grapevine. Additionally, Rosewood has multifamily experience in other areas of Texas, including Tobin Estates Phases I and II in San Antonio, and Aura Avery Ranch, a 339-unit multifamily community located in Austin, Texas.

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