ALLEN – A planned mixed-use development will start construction in December, beginning with its first apartment community.
The five-story apartment community will have 325 units and cost $75 million. It will open in 2025 as part of The Avenue development, which will include 1,600 residential units, one million sf of office space, retail, and single-family homes across 80 acres at the corner of Alma Dr. and SH 121.
The first phase will also include a 125,000-sf office building.
The apartments will be developed by Zale Properties. The Avenue is developed by Thakkar Developers.
The development’s infrastructure is financed with a $36 million loan.