Transcontinental Realty Investors, Inc. & Southern Properties Capital Announce Progress on Top Master Planned Developments - ...
May 22 2019 - 7:00AM
Business Wire
Southern Properties Capital, a subsidiary of Transcontinental
Realty Investors, Inc. (NYSE: TCI), a Dallas-based real estate
investment company, is pleased to announce the significant success
tied to Mercer Crossing and Windmill Farms development
projects.
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the full release here:
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Mercer Crossing, a master-planned
development in Dallas, Texas (Photo: Business Wire)
Mercer Crossing is at the heart of the Dallas-Ft Worth
Metroplex, located near the junction between interstates 635, 35E,
George Bush Tollway, and Sam Rayburn Tollway. Fifty companies
currently call Mercer Crossing home and 1,000 residential lots are
under completion; all under contract with national builders. The
first phase of a 1,200 unit apartment complex is also nearing
completion. This 370-acre mixed use development will be home to 174
acres of residential single-family homes and 93 acres of retail,
shopping and office space. With bike trails and shaded structures
throughout, as well as several parks and open spaces, Mercer
Crossing will provide a warm and inviting atmosphere not typically
seen in an urban setting. The community will be comprised of six
distinct and separate residential neighborhoods whose Texas Tudor
style architecture is inspired by 17th century England and meant to
evoke feelings of the English countryside. Mercer Crossing will
also boast a state-of-the-art amenity center and is close to
numerous business districts.
Windmill Farms is a gorgeous master-planned community east of
Dallas, in Forney, Texas. Located just past I-635, off Hwy 80, this
family-friendly setting is conveniently located near all the fine
dining, shopping, and entertainment that the heart of Dallas has to
offer. This neighborhood also rewards homeowners with endless
amenities including expansive swimming pools, playgrounds, ponds,
picnic areas, and highly acclaimed schools. Windmill Farms combines
the excitement of Dallas and the small-town, relaxed feel of
Forney.
The next Windmill Farms subdivision is currently being completed
by two national home builders purchasing all 250 lots. The next
three subdivisions will be completed this summer with national home
builders purchasing all 591 lots. Final designs are being reviewed
for a significant new amenity center for the new subdivisions.
Planning is also underway for two retail projects, and an apartment
complex is also planned in the area.
“Windmill Farms remains the top new home community in the top
Metroplex relocation areas, and Mercer Crossing is the newest
dynamic development in the area,” commented Daniel J. Moos, TCI
& Southern Properties’ CEO. “These developments are a perfect
example of our organization’s strategic vision, coupled with our
development capabilities.”
About Transcontinental Realty Investors
Transcontinental Realty Investors maintains a strong emphasis on
creating greater shareholder value through acquisition, financing,
operation, development, and sale of real estate across every
geographic region in the United States. A New York Stock Exchange
company, Transcontinental is traded under the symbol "TCI".
Transcontinental produces revenue through the ownership and
professional management of income producing apartments and office
buildings that are "undervalued" or "underperforming" at the time
of acquisition. Value is added under Transcontinental ownership,
and the properties are repositioned into higher classifications
through physical improvements and improved management.
Transcontinental has dramatically expanded its development
capabilities associated with luxury apartment homes through its
wholly owned subsidiary Abode Properties, principally on land it
owns or acquires.
About Southern Properties Capital
Southern Properties Capital (SPC) operates in Southeast and
Southwest USA. The Company’s core assets are tied to owning and
operating Class A multi-family apartments and two very prominent
and viable Multi Use development properties in Greater Dallas. The
Company’s business strategy is to continue to expand its Class A
multifamily portfolio through new development and financially
attractive acquisitions. To this end, SPC is joint owner of Abode
Properties with its parent Company TCI and Macquarie.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190522005173/en/
Chris ChildressOn behalf of Transcontinental Realty Investors,
Inc.469.522.4275 / press@pillarincome.com
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