Legacy Partners, a privately held national real estate firm, together with their joint venture partner The Resmark Companies, a leading residential real estate investment manager, today announced the groundbreaking for Legacy Gateway, a new 336-residence apartment community coming to Forney, Texas.
The 14-acre site for Legacy Gateway is located at 1205 Gateway Blvd. within Gateway, a 2,000-acre master-planned, mixed-use development. Forney is only 25 minutes east of Downtown Dallas in Kaufman County, which was recently named the fastest growing county in the nation by the U.S. Census Bureau.
Anticipated for completion in spring 2025 with initial occupancy in summer 2024, the 282,736-square-foot community will consist of five three-story buildings. JHP Architecture is the architect while BBL Building Company is the general contractor.
“This will be a top-of-market multifamily community within Forney’s sought-after Gateway development, offering our residents state-of-the art homes, the latest in modern amenities, and excellent access to the Dallas Metroplex in an appealing neighborhood,” said Matt Brendel, senior managing director at Legacy Partners.
Legacy and Resmark closed on the undeveloped site with a construction loan from InterBank. Vanguard Real Estate Advisors served as the broker for the transaction.
The development’s mix of 336 studio, one- and two-bedroom apartment homes will range from 540 to 1,360 square feet, with an average size of 841 square feet. Residences will feature state-of-the-art smart home technology with high-speed internet provided to all homes; stainless steel appliances; wood-style flooring; and full-size washers and dryers. Select units will have balconies and private yards, as well as kitchen islands and spacious walk-in closets.
The community will offer extensive shared amenities including a resort-style pool with tanning ledges and cabanas; expansive outdoor kitchen and lounge; gaming courtyard with lawn games and pickleball court; club room with resident lounge and kitchen; internet café; private co-working offices; and an elite indoor/outdoor fitness studio. The pet-friendly community will also have large and small dog parks. Reserved garages and carports will be available, too.
Legacy Gateway will be built within Gateway, a new development which includes luxury multifamily communities, retail, office, and entertainment venues on the north side of US 80, all linked to other commercial and office areas by the new $23 million Gateway Bridge.
Legacy Gateway is the latest community Legacy is developing in Texas. Adding almost 1,800 homes to the market this decade, Legacy’s developments also include the recently completed 880 LYN in the Las Colinas market in Irving, and three under construction: Camber Ranch in Austin, Ovation at Galatyn Park in Richardson, and Merit in Lewisville.
About Legacy Partners
Legacy Partners (Legacy), a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay Area, owns, develops, and manages multifamily communities throughout the United States. Legacy has regional offices in Northern and Southern California, Colorado, Florida, Texas, and Washington, and has developed or acquired more than 78,000 apartment homes primarily in Arizona, California, Colorado, Florida, Nevada, Oregon, Texas, and Washington. Since inception, Legacy has worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently delivering exceptional results. Legacy provides management services for its own portfolio, as well as third-party clients. Combined, Legacy manages a portfolio of over 50 multifamily communities with more than 12,000 apartment homes, and with a gross value in excess of $3 billion. For further information, please visit www.legacypartners.com.
About The Resmark Companies
Founded in 1995, Resmark is a leading residential real estate investment manager that provides capital to premier homebuilders, land developers, and multifamily developers across the United States. As a fiduciary to its investors, Resmark is a best practices aggregator that provides preferred access to America’s best residential developers. The firm has participated in more than 275 investments encompassing over 90,000 single-family and multifamily residential units. Headquartered in Los Angeles, Resmark operates nationally and maintains offices in select target markets. For additional information, please visit www.resmark.com.
