Batson-Cook Development Company and Ventures Development Group have broken ground on a 300-unit Class A garden-style community on 11.5 acres in Terrell, Texas.
Within a 30-minute drive from downtown Dallas, The Southerly at Crossroads is part of the master-planned Terrell Market Center, with more than 550,000 square feet of retail providing built-in entertainment and service amenities. Strong demographics and the addition of major employers have made the county one of the fastest-growing in the United States.
“With apartment demand in the Dallas suburbs continuing to outpace other submarkets across the MSA, and supply limited, The Southerly at Crossroads has strong tailwinds already,” said Litt Glover, President and CEO, BCDC. “We’re thrilled to once again partner with the group of outstanding professionals at VDG.”
The Southerly will feature luxury finishes and resort-style community amenities, including a pool with cabanas, an outdoor amenity deck with kitchen space, a fire pit, a fitness center and co-working space. The property will also feature a game room, dog park, detached parking garages, carports, backyards and a gated front entry.
“We are very pleased to join with BCDC in providing a second Class A multifamily component to the Crossroads development in Terrell. This will be our sixth ground up community in the DFW metroplex, and we look forward to contributing to the growth of this area,” said Rob McConnell, Principal, Ventures Development Group.
VDG is leading the project with co-sponsor BCDC. First Horizon Corporation is the senior lender with preferred equity from Origin Investments. Texas-based Arrive Architecture Group is the architect and Construction Enterprise Inc. is the general contractor.
The partnership expects the delivery of first units in the 4th quarter of 2023.
About Ventures Development Group
Ventures Development is a fully-integrated multi-family development and management firm with offices in Southlake, Texas and St. Augustine, Fla. VDG believes in a “value creation” approach when taking on real estate development opportunities. Whether through Rezoning, Entitlement Reform or Incentive Procurement, VDG believes all great and successful development opportunities begin and end with organic value creation. For more information, visit www.venturesdevelopmentgroup.com.
About BCDC
Founded in 1963, BCDC is a wholly-owned subsidiary of Kajima USA. It is a fully integrated real estate organization providing development and capital solutions, primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, Georgia, BCDC offers a wide variety of real estate services from development and construction to equity and credit enhancements, to brokerage and property management. Learn more by visiting batsoncookdev.com.
About Origin Investments
Origin Investments helps high-net-worth investors, family offices and registered investment advisors grow and preserve wealth by providing best-in-class real estate solutions. They are a private real estate manager that builds, buys and lends to multifamily real estate projects in fast-growing markets throughout the U.S. Since its founding in 2007, Origin has executed more than $2.6 billion in real estate transactions and its principals have invested more than $75 million alongside investors. Origin prides itself on offering unparalleled service to investors and its performance ranks the firm in the top decile of the best performing private real estate fund managers ranked globally by Preqin, an independent provider of data on alternative investments. Origin is currently accepting new investors for their open Growth Fund, IncomePlus, Qualified Opportunity Zone and Multifamily Credit Funds. To learn more, visit www.origininvestments.com.
