{"id":1004056590,"date":"2012-12-25T20:00:50","date_gmt":"2012-12-26T04:00:50","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=90480"},"modified":"2020-04-06T04:27:22","modified_gmt":"2020-04-06T12:27:22","slug":"jv-to-develop-35m-apartment-community-north-of-dallas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-to-develop-35m-apartment-community-north-of-dallas\/","title":{"rendered":"JV to Develop $35M Apartment Community North of Dallas"},"content":{"rendered":"<p>By Camelia Bulea, Associate Editor<\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/Aura-Castle-Hills-Dallas.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-90486\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/Aura-Castle-Hills-Dallas.jpg\" alt=\"\" width=\"300\" height=\"187\" \/><\/a>Global Growth Trust has formed a joint venture with Hunt Realty Investments and Trinsic Residential Group to develop a Class A apartment community in Lewisville, about 25 miles north of downtown\u00a0Dallas.<\/p>\n<p>Known as Aura Castle Hills, the $34.9 million garden-style community will include 316 apartment units with one-, two- and three-bedroom floor plans. The developer also announced that the new apartment project will be built on a site that is part of Castle Hills, a 2,500-acre master-planned community that was named \u201cCommunity of the Year\u201d in 2011 by the Dallas Homebuilders Association.<\/p>\n<p>Aura Castle Hill is located about five miles from the Dallas North Tollway and I-35, providing residents with easy access to large employment areas, retail centers and entertainment venues.<\/p>\n<p>The community will feature a clubhouse, business center, fitness center, dog park, resort-style swimming pool and attached and detached garages, according to a statement from Global Growth Trust, which owns a 56 percent interest in the joint venture.<\/p>\n<p>The company has been a very active developer in the last 12 months, having invested about $135.5 million in four multifamily developments, according to a news release. The other three projects are:<\/p>\n<ul>\n<li>Woodfield Long Point \u2013 a 258-unit project in Mount Pleasant, near Charleston;<\/li>\n<li>Circle Crosstown\u00a0\u2013\u00a0a 344-unit multifamily project in Tampa;<\/li>\n<li>Circle Alexander Village \u2013 a 320-unit Class A garden-style community in Charlotte, N.C.<\/li>\n<\/ul>\n<p>Dallas-based Trinsic Residential Group will serve as the project\u2019s developer and general contractor.<\/p>\n<p><em>Artist rendering of proposed development courtesy of Global Growth Trust.<\/em><\/p>\n<p>For more news from Dallas, <strong><a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-employment-boom-continues-across-dfw-metroplex-leading-to-tight-apartment-conditions-and-renewed-construction\/1004064354.html\" target=\"_blank\" rel=\"nofollow\">click here<\/a><\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Growth Trust has formed a joint venture with Hunt Realty Investments and Trinsic Residential Group to develop a Class A apartment community in Lewisville, about 25 miles north of downtown Dallas.<\/p>\n","protected":false},"author":271,"featured_media":1004507104,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21742],"tags":[],"class_list":["post-1004056590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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