Construction is set to break ground on a 290-unit Fountainview apartment in Farmersville, Texas. The project will be carried out through the partnership between Myers Picard Property Development and Consilium Properties dubbed Ethos Property Development. Myers Picard’s Principal, Bruce Myers said the project would also provide an affordable housing alternative to other parts of Collin County.
According to Ethos, the location of the Fountainview apartment in Farmersville was targeted for its proximity to McKinney. This region has seen an influx of industrial development and several developers are working on warehouse projects around there. Additionally, the city council also expects Collins county to benefit from the future expansion of US 380. Especially since it connects eastern Collin County with jobs in Plano and Frisco.
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Development plans for the Fountainview apartment in Farmersville
Construction will take place at a 17.5-acre site just south of a recently completed single-family subdivision. The project’s location will be at the southwest corner of Princeton Avenue and Harvard Boulevard. In December 2020, the developers purchased the site with the aim of leveraging the recent unprecedented growth in the region.
The Fountainview apartment in Farmersville will be spread across ten different buildings, consisting of two and three-storey buildings. However, construction on the project will take about two years, with the first set available by spring 2024. Afterward, the full build-out will be delivered by 2025. The project’s name pays homage to a 1-acre pond with a fountain, which will serve as the centerpiece of the project. The development team involved in the apartment project includes Gallego Project Management and Broaddus Construction
Upon completion, the apartments will offer one, two, and three-bedroom units ranging from 620 to 1,340 square feet. Additionally, the property will feature shared amenities such as a pool, dog park, and outdoor cooking area. The apartment units will have rents starting at $1,080 and averaging around $1,350.
