Legacy’s multifamily portfolio in Texas surpasses 2,000 homes; Highland and Oak Grove to be developers first single-family rental communities in Texas
Legacy Partners (“Legacy”), a privately held national real estate firm, and The Resmark Companies, today announced the development of two single-family build-to-rent communities in the fast-growing northern Dallas suburbs: Highland, comprising133 homes in the Collin County city of Melissa, andOak Grove, featuring134 homes in the Denton County city of Aubrey.
Completion for both communities is anticipated in late 2025. Provident General Contractors is constructing both developments.
“While we historically have developed multifamily properties, we made the decision to pivot to single-family homes after analyzing the surrounding communities and recognizing the need to accommodate families who desire this lifestyle,” said Matt Brendel, executive managing director at Legacy. “Both communities are in fast-growing suburban communities with easy access to major employers throughout the Metroplex.”
Designed by UD Architects, Highland will offer 133 luxury one-, two-, and three-bedroom homes ranging in size from 780 to 1,500 square feet. Homes will be one- and two-stories, featuring granite countertops, upgraded appliances, smart home technology, and private fenced-in yards. The majority of homes will have attached garages. Monthly rental rates are anticipated to start at $2,100.
Highland is ideally located in the heart of Melissa adjacent to the intersection of Highland Road and McKinney Street, approximately three miles northeast of the Central Expressway and Highway 121 intersection. Melissa is a dynamic suburban community 40 miles north of downtown Dallas with excellent connectivity in and around Collin County and greater DFW.
Designed by Architecture Demarest, Oak Grove will rise at 2036 Oak Grove Lane in Aubrey and offer 134 luxury one-, two-, and three-bedroom homes ranging in size from 770 to 1,625 square feet. Similar to Highland, Oak Grove will offer one- and two-story homes, featuring granite countertops, upgraded appliances, smart home technology, and private fenced-in yards. The majority of homes will have attached garages. Monthly rental rates are anticipated to start at $2,000.
Oak Grove is conveniently situated near Highway 380 and is centrally located between Interstate 35 and the Dallas North Tollway, connecting residents to major employers, retail, and entertainment centers throughout Collin and Denton Counties. The property is just north of Lewisville Lake, 10 minutes from the new PGA Headquarters and 20 minutes from the Frisco North Platinum Corridor.
Oak Grove Exterior (Courtesy of Legacy Partners)
Both Highland and Oak Grove feature best-in-class community amenities including clubhouses with gaming rooms, co-working space, conference rooms, state-of-the-art fitness centers, resort-style swimming pools with cabanas, outdoor kitchens with grilling stations, dog parks, and substantial green space.
“Legacy has a deep history in North Texas with more than 1,500 apartment homes built since 2022 – and over 2,000 total,” added Brendel. “We’re pleased to continue to fulfill the residential demand in this market.”
These new BTR home developments will join other acclaimed multifamily communities from Legacy in the Dallas-Ft. Worth Metro Area. Last year, Legacy delivered 880 LYN on Lake Carolyn in Las Colinas’ Urban Center and Merit opened in Lewisville. Meanwhile, Ovation at Galatyn Park in Richardson and Rylan at Gateway in Forneyare anticipated to open in 2024.
Over the last decade, Legacy Partners and The Resmark Companies have partnered to develop several rental communities, including Rylan at Gateway, a new 336-residence apartment community coming to Forney, Texas.
“Legacy is a valued partner with strong development expertise and a strong reputation of execution,” said Ziv Cohen, chief investment officer, The Resmark Companies. “We are excited to extend our partnership into the BTR sector and deliver a sought-after housing product to these vibrant communities.”
About Legacy Partners
Legacy Partners (Legacy), a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay Area, owns, develops, and manages multifamily communities throughout the United States. Since its inception, the company has developed or acquired more than 80,000 apartment homes at more than $8.5 billion in cost.Legacy has regional offices in California, Colorado, Florida, Georgia, Texas, and Washington, and has developed more than 68,000 apartment homes in Arizona, California, Colorado, Florida, Nevada, Oregon, Texas, and Washington. Since inception, Legacy has worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently delivering exceptional results.Legacy provides management services for its own portfolio, as well as other owners. Combined, Legacy manages a portfolio of more than 50 multifamily communities with almost 12,000 apartment homes, and with a gross value in excess of $3 billion. For further information, please visit www.legacypartners.com
About The Resmark Companies
Founded in 1995, Resmark is a leading residential real estate investment manager that provides capital to premier homebuilders, land developers, and multifamily developers across the United States. As a fiduciary to its investors, Resmark is a best practices aggregator that provides preferred access to America’s best residential developers. The firm has participated in more than 300 investments encompassing over 90,000 single-family and multifamily residential units. Headquartered in Los Angeles, Resmark operates nationally and maintains offices in select target markets. For additional information, please visit www.resmark.com.
