Located along North Dallas' Central Expressway with immediate regional access and exposure to over 200,000 vehicles per day, the property was well-positioned in one of the fastest growing and affluent housing submarkets in North Texas.  The immediate area had experienced explosive residential and class-A office growth with high-quality developments by Kaizen Development Partners, Darling Homes, Ashton Woods, Thompson Realty, and Davis Development.  

This was a unique opportunity to acquire a 7.69 acre development site located within the acclaimed Watters Creek at Montgomery Farm.  Watters Creek is a  highly-distinguished and market-dominant open-air mixed-use destination in the heart of Allen, one of Dallas' fastest growing northern suburbs.  The property benefitted from its adjacency to the amenity-rich environment of Watters Creek, which features a vibrant combination of renowned national retailers, authentic local boutiques, chef-inspired restaurants, first-class office space and luxury urban style loft apartments.  With favorable in-place, mixed-use zoning and a pro-business friendly city that was very supportive of future growth, the property allowed High Street the opportunity to continue the momentum of quality development seen in the immediate area.

Client: PCCP | Trademark Property Company
Buyer/Developer: High Street Residential
Address: 1280 Montgomery Blvd, Allen, Texas  75013

Land Area: ±7.69 acres 
Sold Date: February 2021

Estimated Development Value: ±$85 million
Completion Date: November 2022
Project Uses: 5-story buildings with 370 units
6-level, 500 vehicle parking garage 

Services Provided: Land Disposition