Watterscape rental community is being built on S.H. 121.
A Florida fund is investing in a new Allen apartment community.
Fort Lauderdale-based Targa is providing equity funding for the new Watterscape apartments being built on State Highway 121 in Allen.
The 469-unit rental community is a project of Dalcor Cos and is on Watters Road at S.H. 121. Targa, a private rep estate investment fund, is putting $5 million into the new Allen project.
The four-story rental community will include will a pool, four courtyards, a club room, fitness room, a business center, collaborative work areas and a dog spa.
“This is an excellent project from a developer with a successful 35-year track record of development and a national construction manager that has built premier multi-family projects in Texas, Florida, and Hawaii,” David Greer, Principal at Targa, said in a statement.
Moss Construction is building the project in a joint venture with Landmark. Dalcor owns and manages more than 4,000 apartment units in Texas and Florida. Targa raises funds to invest in rental communities in Florida, Texas and Hawaii.
The company was formed by Greer and partner Chad Moss.