The NRP Group, H.I.G. Capital Break Ground on Multifamily Development Outside Dallas Texas

The first units are on track for delivery in 2025

Diamond Flats
Diamond Flats is located at 1402 Carrollton Parkway in Carrollton, Texas

The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with H.I.G. Realty Partners, the real estate platform of global investment firm, H.I.G. Capital, has broken ground on Diamond Flats, a market-rate community in Carrollton, Texas, a vibrant suburb of Dallas. The six-acre site is being transformed into a four-story development comprising 331 apartment homes. Santander Bank, N.A. has provided a construction loan for the project. 

Directly adjacent to Highway 121, Diamond Flats is strategically positioned for convenience and connectivity. Just minutes from major mixed-use developments, corporate hubs and major area employers, the development is tailored to the evolving opportunities resulting from the rapid growth of the North Dallas region.  

“Diamond Flats demonstrates NRP’s commitment to creating high-quality communities that cater to the evolving needs of Dallas’ fast-growing population,” said Alena Savera, Vice President of Development at The NRP Group. “This incredible location in Carrollton offers residents quick access to the top amenities in the Dallas-Fort Worth market. We are fortunate to work with partners like H.I.G Capital and Santander Bank, N.A. to deliver rental opportunities where apartment demand is surging.” 

Centrally located between downtown Dallas, Dallas-Fort Worth International Airport and popular mixed-use developments including Legacy West, Diamond Flats offers proximity to prominent retail and job centers including Toyota, Frito Lay, FedEx and JP Morgan. Additionally, the development is located near green spaces, hospitals, restaurants and retailers. 

Featuring spacious one- to three-bedroom units averaging over 950 square feet, Diamond Flats is designed to accommodate professionals with hybrid work schedules. Many units offer dens for working remotely in addition to community coworking amenity spaces. Residents will enjoy exceptional on-site amenities, including a fitness center with separate strength and cardio areas, a resort-style pool, tranquil courtyards, a game room and secure garage parking. Diamond Flats is the second NRP development in the Carrollton area.