W Properties Mixing BTR and Garden-Style Apartments in Melissa
W Properties plans to build a 252-unit garden-style multifamily community on approximately 12 acres adjacent to Everbloom (shown), the company’s 343-unit build-to-rent community in Melissa, Texas.
The company said it’s taking a different approach with garden-style apartments, a sector still working through elevated supply and concessions across North Texas.
Texas multifamily permitting across its five major metros has fallen by more than half from its 2023 peak, while Dallas-Fort Worth continues to absorb a significant pipeline of apartments already under construction.
W Properties Andrew Welker added, “BTR and garden-style apartments are different products, and we would not have started a garden-style project in that same environment. We expect to go vertical by mid-2027, positioning this community for an early 2029 leasing season, when we believe today’s supply pressure will look materially different.”
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout