Broadstone Evoke Named a Top 10 Dallas Communities Under Development
With a business-friendly climate and no state income tax, Dallas is an important target for both domestic and foreign investors. In the past year, Dallas has seen strong absorption due to job growth and population gains and leads the U.S. metros in units under construction. However, rent growth is starting to slow down, after more than a year of significant increases.
This list highlights the metro’s top 10 communities under development, based on unit counts, according to Yardi Matrix data.
8. BROADSTONE EVOKE
Broadstone Evoke, a 459-unit property in Plano, is Alliance Residential Co.’s largest Dallas community yet. In 2015, the firm secured a $46.8 million construction loan from U.S. Bank for the upcoming building. Scheduled for completion by the end of the year, the asset will feature one-, two- and three-bedroom apartments, ranging from 600 to 1,449 square feet. Pre-leasing started in March and, as of July, the property was 19 percent occupied. Community amenities will include a fitness center, business center, clubhouse, swimming pool and more than 450 parking spaces.
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