Grand Prairie: Presidium Breaks Ground on 4-Story Residential Complex
Feature Illustration (above): Architect’s rendering of one of the buildings to be constructed at Presidium Hill Street. Courtesy: Presidium.
by Adolfo Pesquera
Grand Prairie (Dallas County) — The real estate development firm Presidium announced today the ground breaking for Presidium Hill Street, a four-story multifamily community that will offer residents best-in-class amenities.
When fully complete in mid-2022, the 290-unit community’s design will complement a luxurious and easygoing lifestyle for its residents in one of Dallas-Fort Worth’s most up-and-coming areas.
“This is our first construction start post-COVID, so this is a very special groundbreaking for us. Thanks to the help of our incredible project team, we were able to create a site plan that ensures Presidium Hill Street will add significant value to the Grand Prairie community, while also providing a best-in-class housing option for its residents,” said John Griggs, Co-CEO and Co-Founder of Presidium.
Located immediately east of State Highway 161 and on the north side of Hill Street, the project was approved in February by the Planning & Zoning Commission. The complex will composed of 198 one bedroom units, 80 two bedroom units, and 12 three bedroom units.
The site plan includes four residential buildings and a clubhouse, 444 surface parking spaces, with 134 of these set up as carports. Presidium Hill Street is laid out on a 13.1-acre site of undeveloped land.
Site plan for Presidium Hill Street apartments. Source: City of Grand Prairie.
Designed by Dallas-based O’Brien Architects, each unit will exceed the latest energy code requirements, incorporating energy star and energy-efficient components throughout all systems.
The apartment homes will feature 9-foot ceilings, stainless steel appliances, wood-look flooring, and designer lighting and plumbing fixtures throughout. Common area amenities will be abundant in order to cultivate a community-based lifestyle not yet seen in the Grand Prairie and Arlington submarket.
These community amenities will include a resort-style pool, a business lounge with Wi-Fi and conference rooms, a rooftop skydeck terrace, a fitness center with separate fitness-on-demand studio, a bike storage location, and a pet grooming area. Presidium Hill Street will also feature conditioned corridors and elevators.
In an effort to bring more housing choices to the area’s incredibly robust employment base, Presidium Hill Street will provide convenient access to both Highway 161 and Interstate 30, bringing easy connectivity to Dallas, Ft. Worth, DFW Airport and more. This project brings Presidium to over 2600 units of multifamily either delivered or under construction.
“Veritex Community Bank was able to provide Presidium with their banking needs and offer a smooth and quick closing process,” said Leo Smith, Vice President of Commercial Real Estate Lending at Veritex Bank.
“The site that Presidium acquired has a lot of potential and we are bullish on the Grand Prairie submarket given the current supply fundamentals. We have a lot of confidence in Presidium to deliver a product to this area that is unmatched with luxury amenities that are in high demand by their residents. This is a start to a great relationship with Veritex and Presidium and we look forward to more opportunities to come.”
Edited from a Presidium news release and City of Grand Prairie public records.
Adolfo Pesquera (Reporter/Editor) is a veteran news journalist. He has worked for Hearst Corp., American Lawyer Media, News Corp and Freedom Communications. His work has been published in newspapers and magazines across the USA. He is a journalism graduate of UT-RGV. He writes, edits and creates digital pages for VBX.