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Despite what it calls a difficult construction financing market, Cushman & Wakefield announced today it has arranged construction financing on behalf of Talos Holdings for The View of Fort Worth, a 300-unit community along the Trinity River near at the southwest corner of Northside Drive and Interstate 35W.
The funds were provided by Endeavor Real Estate Partners out of Austin and secured by Justin Shuart, Jason Pumpelly, and Brian Park of Cushman & Wakefield.
“Construction financing is becoming increasingly difficult to come by, but it’s an area in which we specialize,”
Shuart said. “We’ve built long-term relationships with lenders and developers that have excellent track records; that, along with having a quality project in a highly desirable location, made the difference.”
According to the Cushman & Wakefield release, the luxury development on Northside Drive will offer panoramic views of downtown Fort Worth. Talos Holdings expects to break ground this month and have units ready for occupancy by late 2018.
“We are truly excited to be part of such a great project in the great city of Fort Worth,” said John K. McWilliams Jr., founder of Talos Holdings. “We believe this is a one-of-a-kind property, with the views of downtown and being on the river.”
The View of Fort Worth was designed by Addison-based BGO Architects, with interiors by Imagine Design. CBG Building Co. of Lewisville is the general contractor. Lincoln Property Co. will provide management services.
The development will be a midrise community of three stories over podium parking. Units will range in size from one to three bedrooms and feature 9-foot vaulted ceilings, quartz countertops, dark-wood cabinets, stainless steel appliances, balconies or patios, and full-size washers and dryers. Planned amenities include an infinityedged pool with private cabanas and gardens, wi-fi café, athletic center, game room, pet park and dog wash, and more.
A second phase could add 200 units, bringing the project total to 500 units.
The timing is right to move forward with The View of Fort Worth, Pumpelly said. “DFW is among the top markets in the country for rent appreciation, and with the population growth the region is experiencing, that should hold true for a while,” he said.