Wood Partners Breaks Ground on Luxury Apartment Community Plano
Alta Market Central Will Add 300 New Apartments Next to Central Market
PLANO, Tex. – June 23, 2014 –Wood Partners announced that it has broken ground on Alta Market Central, a 300-unit luxury apartment community on 5.3 acres located in the southern part of the city near Coit Rd. and the President George Bush Turnpike. Wood Partners expects construction be completed in late 2015 and apartments to be available for lease in the second quarter of 2015.
Alta Market Central is three miles from Richardson’s Telecom Corridor, which is home to top employers such as AT&T, Bank of America, Blue Cross/Blue Shield, Cisco, Samsung, and Verizon. State Farm is currently building two million square feet of office space in the market which will produce an estimated 8,000 jobs. In addition, residents will be able to walk next door to Central Market, the top luxury grocery chain in Dallas.
Designed by Good, Fulton & Farrell, Alta Market Central, which is located at 3700 Mapleshade Lane, will include a four-story building with structured parking, a club room and fitness room, covered outdoor kitchen and grill area, outdoor lounge and an elaborate three-tiered pool. The units will feature stainless steel appliances, recycled-glass countertops, faux wood flooring, and upgraded fixtures and lighting.
According to the National Association of Home Builders’ formula to determine the local impact of multifamily housing in typical metro areas, adding 300 rental apartments will generate $23.7 million in local income, $2.4 million in taxes and other revenue for local governments, and 366 local jobs.
About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the acquisition and development of more than 49,000 homes with a combined value of more than $7.6 billion nationwide. The company currently owns 77 properties with a combined total of 20,200+ units. Wood Partners has offices in 16 major markets nationwide including Atlanta, Baltimore, Delray Beach/South Florida, Boston, Charlotte, Dallas, Denver, Houston, New York, Southern California, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our website, www.woodpartners.com.