25 Jul Ventures Development Group, BCDC Start The Southerly at Crossroads in Terrell, Texas
Within a 30-minute drive from downtown Dallas, The Southerly at Crossroads is part of the master-planned Terrell Market Center, with more than 550,000 square feet of retail providing built-in entertainment and service amenities. Strong demographics and the addition of major employers have made the county one of the fastest-growing in the United States.
“With apartment demand in the Dallas suburbs continuing to outpace other submarkets across the MSA, and supply limited, The Southerly at Crossroads has strong tailwinds already,” said Litt Glover, President and CEO, BCDC. “We’re thrilled to once again partner with the group of outstanding professionals at VDG.”
The Southerly will feature luxury finishes and resort-style community amenities, including a pool with cabanas, an outdoor amenity deck with kitchen space, a fire pit, a fitness center and co-working space. The property will also feature a game room, dog park, detached parking garages, carports, backyards and a gated front entry.
“We are very pleased to join with BCDC in providing a second Class A multifamily component to the Crossroads development in Terrell. This will be our sixth ground up community in the DFW metroplex, and we look forward to contributing to the growth of this area,” said Rob McConnell, Principal, Ventures Development Group.
VDG is leading the project with co-sponsor BCDC. First Horizon Corporation is the senior lender with preferred equity from Origin Investments. Texas-based Arrive Architecture Group is the architect and Construction Enterprise Inc. is the general contractor.
The partnership expects the delivery of first units in the 4th quarter of 2023.