Silver Oak Multifamily Capital, LLC announced today it has broken ground on Emerson Court, the second phase of its luxury urban apartment community located within Frisco Market Center. Emerson Court will have 312 units and was designed to complement the very successful first phase, Emerson at Frisco Market Center, that is fully occupied and has 410 units. The properties are located at the northwest corner of the Dallas North Tollway and Main Street in Frisco, Texas.
“Emerson Court provides us the opportunity to build on the success of Phase I and to create an exceptional living environment for our residents in the heart of the ever expanding City of Frisco,” said Tim Gottsacker, Managing Partner for Silver Oak. “We are thrilled to be in Frisco because of the exemplary school district; high-end shopping/entertainment, recreation and most importantly, access to an expanding employment base that will provide high quality jobs for our residents.”
Emerson Court is a four-story building that will wrap around a five-story parking structure, allowing residents direct access to their homes. The apartments will feature market-leading amenities including gourmet kitchens with stainless steel appliances and granite counter tops. There will be a state-of-the-art fitness center and two beautifully landscaped interior courtyards with an outdoor pool, fireplaces, BBQ and picnic areas. The property will have a mix of one, two and three-bedroom units and monthly rents will range from $1,100 to $2,200 per month. This pedestrian-friendly community is within walking distance of shopping, dining and entertainment.
Emerson Court’s project team includes CBG Building Company as the General Contractor and BGO Architects.
Frisco Market Center, a 100-acre mixed-use development, has added 12 restaurants since 2014. The $300 million development is anchored by Main Event and LA Fitness and sits adjacent to Frisco Square. Earlier this year, a major grocery store purchased approximately 19 acres of land along the eastern portion of Frisco Market Center for a future 100,000 + square-foot grocery operation.
Upon completion, Frisco Market Center will include nearly 500,000 square feet of entertainment, restaurants and retail, approximately 250 hotel rooms and over 1,500 residents on site. The roster of tenants already in place includes Pei Wei Asian Diner; Panera Bread; Rockfish Seafood Kitchen; Pie Five Pizza Co.; Mooyah Burgers, Fries & Shakes; FedEx Office; Floyd’s Barbershop; Ideal Dental; Simply Fit Foods; Freebirds World Burrito; Cowboy Chicken; Smoothie King; IHop; and 54th Street Grill.
Frisco Market Center’s capital partner is Chief Partners, LP, a real estate investment firm based in Dallas, Texas and Hermansen Land Development, Inc is the developer.
Silver Oak Multifamily Capital, LLC is a Dallas, Texas based real estate investment company that serves as the General Partner (Sponsor) of a series of Real Estate Funds focused on the development of well-located, high-quality apartment communities. The firm makes opportunistic and value-added investments in urban and garden style apartment communities throughout Texas and other select markets in the U.S.