Real Estate in Garland Texas
Each week, I thought it would be helpful to showcase our property that has been tokenized and is currently having equity funding raised to illustrate the top quality CRE we are making more affordable, accessible, and liquid to the market. Introducing The Draper Garland, real estate in Garland Texas.
The Sponsor, GroundFloor, offers Qualified investors the opportunity to invest in the acquisition and the development of a +/- 155-unit multifamily project. They will develop the project on 3.7 acres of land located within the downtown area of Garland, Texas. The acquisition consists of the fee-simple ownership of the land situated around South Garland Avenue. The property has convenient access to major employment centers, including Garland, the George Bush Tollway Corridor, the Plano/Richardson/Allen submarkets, and major DFW employment centers via access to DART commuter rail service located less than one mile from the subject property. The zoning for the property includes a planned development overlay, which allows for our intended use as a high-density multifamily project.
Dallas — Plano — Irving
Among the largest metro areas in the country, Dallas-Plano-Irving has been the best performing in terms of job gains over the past year. The pace has been triple the national average, all the more impressive because the national economy has settled down to its long-term trend. All major industries are sharing in the gains, with each outpacing its national equivalent. Core professional services, financial services, and construction are leading the way, with the latter up at a double-digit rate in 2019. These are especially well-paying industries, and consequently, growth in the number of high-wage jobs has also been triple the U.S. rate. The unemployment rate has declined to 3.1%, a 20-year low, even as the labor force has risen strongly. The source of many of the new entrants has been the in-migration of workers taking new jobs amid corporate expansions and relocations. In the housing market, new construction has rebounded since mid-2019. However, price increases have been no faster than the national average.
Real Estate in Garland Texas – Garland MSA
The Garland area submarket is one of the fastest-growing areas within the Dallas-Ft. Worth Metropolitan Area. DFW, for the past decade, is also the fastest-growing metropolitan area in the United States and the 4th-largest metro area in the country behind Chicago, Illinois; Los Angeles, California; and New York City, New York.
Experts project the DFW MSA to grow by 1.3 to 1.4 million people as people flock to Texas due to a pro-business environment and the low cost of living. Strategically located, the Garland submarket benefits from access to the fastest-growing employment areas in the Metropolitan Area — US 75 Telecom Corridor; Plano; Allen and the significant industrial base in Garland — stretching from US 75 along I-635 and George Bush Tollway Corridors to I-30.
Apartments in the area have achieved substantial, stable rents, as experienced by the competitive properties in the appraisal conducted for HUD. Pricing at these properties currently achieves rents per square foot, similar to the subject property’s anticipated rents at today’s comparable rents. The current economic environment may allow for some cost savings associated with the included budget. Rents may show some downward pressure in the short term, but we expect the market to recover by the time units are delivered at the Property in 18–24 months.
About the developer:
The principals of GroundFloor have led the acquisition, strategic planning, development, and disposition of over $5.0 billion of real estate globally with a key focus on residential housing, both rental and for sale, and how they integrate into existing neighborhoods, mixed-use projects or new town master-planned communities. Principals in key start-ups in multifamily apartment development, single-family home construction, and private equity real estate, they represent the broad-based market, financial and economic understanding of a variety of real estate markets.
They have recently turned their focus to the deep opportunities in the middle market, apartment new construction, and the growing demand for quality affordable rental housing. With extensive experience, the team will utilize long-term HUD 221d4 financing when viable. Focusing on the rapidly growing markets in Texas, the team seeks unique locations where demand is underserved, where projects are walkable to services and transportation centers and where projected growth provides the synergy required to deliver long-term risk-adjusted returns to investors
Real Estate Crowdfunding – Real Estate in Garland Texas
Real Estate Crowdfunding with RedSwan CRE can help you invest in properties and obtain fractional ownership. Build wealth and grow dividends. If you like this opportunity, please express interest by signing up at marketplace.redswan.io
If you would like to learn more in general about RedSwan CRE, please view the about us page
Minimum Investment only $1000!