Transcontinental Realty Investors Inc. and Abode Properties Begins Construction on Tower Bay Lofts in Lewisville, Texas
June 05 2018 - 11:33AM
Business Wire
Transcontinental Realty Investors Inc., (NYSE: TCI) and
Abode Properties in association with a local developer recently
broke ground on Tower Bay Lofts in Lewisville, Texas.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180605006289/en/
Architectural rendering of Tower Bay
Lofts currently under construction in Lewisville, Texas (Graphic:
Business Wire)
Tower Bay Lofts is a four-story, 308 unit midrise apartment
development with brick veneer/stone ashlar, wood frame, flat,
built-up roof on concrete slab foundation. Property amenities will
include, resort style pools, parking garage with observation deck
overlooking Lake Lewisville, fitness center with spin room and
rooftop deck lounge, onsite dog park and salon, bocce ball court,
storage units, bike rentals and fire pits. The clubhouse will have
a Wi-Fi café with coffee bar, club lounge with bar and TV area,
outdoor lounge with TV wall, public restrooms and a covered
patio.
At Tower Bay Lofts each unit will offer granite counter tops,
energy-star stainless steel appliances, high ceilings, faux wood
vinyl flooring, washer/dryer hook ups, private patios/balconies,
vinyl wood plank, ceramic tile and carpet.
The unit mix for the Tower Bay project is proposed to have
Efficiency units at 575 square feet, 1 bedrooms ranging from
679-840 square feet, 2 bedrooms ranging from 1036-1292 square feet
and 2 bedroom penthouse lofts at 1604 square feet.
“Tower Bay is located in the middle of the primary growth path
of the area. It is anticipated that the Lewisville market will
continue to be in the forefront of future growth of the greater
Dallas area,” commented Daniel J. Moos, TCI’s President and CEO.
“With access to great schools and an easy commute to both Dallas
and Ft. Worth, Tower Bay Lofts is in prime a location”.
Transcontinental Realty Investors maintains a strong emphasis on
creating greater shareholder value through acquisition, financing,
operation, developing, and sale of real estate across every
geographic region in the United States. A New York Stock Exchange
company, Transcontinental is traded under the symbol "TCI".
Transcontinental produces revenue through the professional
management of apartments, office buildings, warehouses, and retail
centers that are "undervalued" or "underperforming" at the time of
acquisition. Value is added under Transcontinental ownership, and
the properties are repositioned into higher classifications through
physical improvements and improved management. Transcontinental
also develops new properties, such as luxury apartment homes
principally on land it owns or acquires.
Abode Properties is a subsidiary of Transcontinental Realty
Investors Inc., (NYSE: TCI), a Dallas-based real estate investment
company. Abode’s investment and strategic focus is to acquire,
develop, and operate a portfolio of desirable multifamily
residential properties, while capitalizing on our ability to obtain
long term and static debt structures. The portfolio stands to
benefit from historically established, proven, and successful
operational practices, seasoned on-site management, and an
experienced leadership team with forward thinking capabilities in
order to realize maximum cash flows and consistent returns, while
maintaining unequaled resident and customer service. We are
disciplined and prudent allocators of capital and we will continue
growing our geographically diverse portfolio from the Southwest to
the Southeast. These markets are geographically located in areas of
the country that correspond with both sustainable and viable
economic growth activity.
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version on businesswire.com: https://www.businesswire.com/news/home/20180605006289/en/
On behalf of Transcontinental Realty Investors Inc.Chris
Childress, 469-522-4275
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