Rosewood Property Company and equity partner MetLife Investment Management launch development on their second multifamily property at the mixed-use Heritage Creekside development. The 338-apartment home The Buckley is on 4.8 acres near Custer Road and President George Bush Turnpike (SH 190).
“We are thrilled to move forward on The Buckley following the outstanding success of its sister property, The Ludlow,” said Tim Harris, Senior Vice President of Rosewood Property Company. The 326-unit Ludlow, honored with The Dallas Business Journal’s Best Real Estate Deal for Multifamily in 2023, came online and began leasing at the end of last year. The Ludlow’s leasing activity has been impressive, with the property expecting to be full by the Fall of 2024.
Because of the overwhelmingly positive response to The Ludlow, Rosewood Property Company is using the same development team for The Buckley. Hensley, Lamkin, Rachel Inc. serves as the architect, while LandDesign (landscape design), B2 Architecture + Design (interior decorator), KFM (civil engineer) and Provident General Contractors (general contractor) are also involved once again. Broadway Bank is the lender of record.
“As with The Ludlow, we are sharply focused on the resident experience with The Buckley,” Harris explained. “We believe that taking care of our residents is the best way to provide outsized returns for investors while helping the surrounding community and neighborhoods to thrive.”
Developed and owned by Rosewood, Heritage Creekside is a 156-acre mixed-use development that includes several restaurants such as Taco Joint, Pax & Beneficia, Flying Fish and Rodeo Goat, with Crossroads Diner planned to open later this year. OrangeTheory Fitness also has a location at Heritage Creekside. To complete the vibrant neighborhood, this multifamily community joins single-family homes, townhomes and additional apartment communities.
Rosewood Property Company has a long history of multifamily ownership and development in the DFW area, including prior phases of Heritage Creekside, the Creekside Townhomes in Richardson and Reflection at Montgomery Ridge in Allen. Additionally, Rosewood has multifamily experience in other areas of Texas, including The Tobin Estates, a three-phase development in San Antonio near Alamo Heights.
