The Dallas Morning News (March 23, 2021) – The Dallas-based developer is planning a new program to build more affordable rental units.
One of the Dallas-area’s top apartment builders is headed to Denton for the first time.
Trammell Crow Residential is planning a three-story, 378-unit rental community near U.S. Highway 380 in Denton, according to planning documents filed with the state.
“This is Trammell Crow Residential’s first time building in Denton,” said Trammell Crow Residential senior managing director Matt Enzler. “The community is part of Trammell Crow Residential’s attainable housing platform, built under the Allora brand, designed to be delivered at a lower price point than our typical top of market Alexan communities.
“This will be the first Allora community in the D-FW area, and we have plans for several other Allora projects in the region.”
Trammell Crow Residential has already built one of its Allora apartment communities in Houston and is expanding the concept across the country.
“We think our attainable housing strategy can help alleviate, in part, the housing crisis being experienced nationwide, providing a high-quality rental home at an affordable price point,” Enzler said. “This particular Allora community will feature a clubhouse, swimming pool, fitness center, large living spaces and quality finishes.
“Its location in Denton provides convenient access to jobs, transportation, schools and entertainment.”
One-bedroom apartments in the new Allora rental community in Houston start near $1,100 a month.
Trammell Crow Residential is one of several North Texas apartment builders making a move toward building more affordable rental units.
Average apartment rents in North Texas at the end of 2020 were at a record of near $1,200 a month, with new units typically costing even more.
Trammell Crow Residential is one of the Dallas-area’s most experienced apartment builders, with multiple projects in the Uptown area and suburban locations.