Presidium has started construction on a 344-unit luxury community in another suburb surrounding Dallas. Continuing to grow its metro portfolio, the firm broke ground on the first phase of Presidium Valley View that’s located in Farmers Branch, Texas. The multifamily project was designed by O’Brien Architects and is being built by Provident General Contractors for an expected completion in late 2023.
The five-story Presidium Valley View will offer studio, one-, two- and three-bedroom units that have 9-foot ceilings, built-in desks and mudrooms, full-size washer and dryers, private balconies, walk-in closets and smart home features. Presidium is also planning to build a variety of amenities including a clubroom area, coffee bar, game room, theater lounge, golf simulator, fitness center, social lounge, business center, pool, courtyard, yoga lawn, private dog park and outdoor kitchens.
Located at 13214 St. Lawrence Circle, Presidium Valley View is a block away from Dallas College’s Brookhaven Campus and roughly 2 miles away from the area’s popular shopping center, Galleria Dallas.
Mark Farrell, president of development for Presidium, said in prepared remarks that the Dallas-Fort Worth area has been seeing explosive job and population growth due to the low taxes and pro-business local government. Farrell added in his prepared statement that this has led to many companies relocating their headquarters to the area, including Toyota, Charles Schwab, AECOM and PGA of America.
DOUBLING DOWN ON DALLAS AREA
Presidium is also in the development stage for the second phase of the Presidium Valley View. The firm said the second phase is expected to break ground in 2024 and would add more apartment units alongside the initial 344-unit building.
In the meantime, Presidium has been working on a number of Dallas-area projects. The firm’s first new project since the start of the pandemic was a 290-unit rental community in Grand Prairie, Texas, that’s expected to be completed by mid-2022. Further west, the firm is also working on Presidium Berkshire, a 340-unit luxury community in Fort Worth, Texas, that’s slated for completion in the second half of 2022.