A Dallas-based apartment developer and investor is teaming up with a major U.S. homebuilder to do a new project in Frisco.
B/K Multifamily and Pennsylvania-based builder Toll Brothers will build an apartment community in the Frisco Square development near the Dallas North Tollway.
The 259-unit project is at Page Street and the tollway and will open in 2019.
The Kilby rental community will include a clubroom, commercial-style fitness center, multiple lounges and a resort style pool.
BGO Architects of Dallas designed the 4-story development.
B/K Multifamily is a 25-year-old real estate firm with more than 1,600 apartment units under construction.
"We are thrilled to be working with Toll Brothers," said B/K Multifamily’s Mark Beneke. "They are like-minded partners that truly understand the long-term value of Frisco Square, and the unique walkability of the site."
Started in 2000, Frisco Square is an almost 150-acre mixed-use development that includes office, retail, apartments and medical facilities. Frisco’s city hall is also located in the project.
An affiliate of Kansas City-based Maxus Realty Trust Inc. just paid more than $53 million for several buildings in the project.
The Frisco project is one of a growing number of apartment developments Toll Brothers is working on in North Texas. The developer has other projects in North Dallas, Oak Lawn and West Dallas.
"We are excited about this development as we continue to grow our presence in Texas," Tommy Rhodus, Regional Director, Toll Brothers Apartment Living, said in a statement.