The four-story multifamily community will provide housing for the robust employment base in the Grand Prairie and Arlington areas.
Presidium, a diversified real estate development, investment and management firm, has broken ground on Presidium Hill Street, a four-story multifamily community that will offer residents best-in-class amenities and an unbeatable location in Grand Prairie, Texas. When fully complete in mid-2022, the 290-unit community’s design will complement a luxurious and easygoing lifestyle for its residents in one of Dallas-Fort Worth’s most up-and-coming areas.
“This is our first construction start post-COVID, so this is a very special groundbreaking for us. Thanks to the help of our incredible project team, we were able to create a site plan that ensures Presidium Hill Street will add significant value to the Grand Prairie community, while also providing a best-in-class housing option for its residents,” said John Griggs, Co-CEO and Co-Founder of Presidium.
Designed by Dallas-based O’Brien Architects, each unit will exceed the latest energy code requirements, incorporating energy star and energy-efficient components throughout all systems. The apartment homes will feature 9’ ceilings, stainless steel appliances, wood-look flooring, and designer lighting and plumbing fixtures throughout. Common area amenities will be abundant in order to cultivate a community-based lifestyle not yet seen in the Grand Prairie and Arlington submarket. These community amenities will include a resort-style pool, a business lounge with Wi-Fi and conference rooms, a rooftop skydeck terrace, a fitness center with separate fitness-on-demand studio, a bike storage location, and a pet grooming area. Presidium Hill Street will also feature conditioned corridors and elevators.
In an effort to bring more housing choices to the area’s incredibly robust employment base, Presidium Hill Street will provide convenient access to both Highway 161 and Interstate 30, bringing easy connectivity to Dallas, Ft. Worth, DFW Airport and more. This project brings Presidium to over 2600 units of multifamily either delivered or under construction.
“Veritex Community Bank was able to provide Presidium with their banking needs and offer a smooth and quick closing process,” said Leo Smith, Vice President of Commercial Real Estate Lending at Veritex Bank. “The site that Presidium acquired has a lot of potential and we are bullish on the Grand Prairie submarket given the current supply fundamentals. We have a lot of confidence in Presidium to deliver a product to this area that is unmatched with luxury amenities that are in high demand by their residents. This is a start to a great relationship with Veritex and Presidium and we look forward to more opportunities to come.”
# # #
Founded in 2003, Presidium is a Texas-based real estate developer, owner, and operator with a 17-year operating history and an existing real estate portfolio totaling approximately $2 billion AUM. We represent a spectrum of disciplines including acquisitions, development, property management, asset management, construction, law, finance, accounting, special servicing, and public-private partnerships. Presidium is committed to providing best-in-class housing for individuals of all income levels and creating great spaces that enhance people’s lives. For more information about Presidium, visit www.presidiumre.com.