Titan Development and Aberg Property Company Joint Venture Breaks Ground on 'The Trailhead at Chisholm Trail Ranch,' a Luxury Multifamily Project in Dallas-Fort Worth
284-unit complex in the Chisholm Trail Ranch development will offer high-end amenities and access to many employment and leisure opportunities
FORT WORTH, Texas, May 31, 2022 /PRNewswire/ -- Titan Development ("Titan") and Aberg Property Company, Inc. ("APC"), broke ground today on The Trailhead at Chisholm Trail Ranch, a $63 million, 284-unit luxury multifamily development in Fort Worth, Texas. The project, which is expected to be completed in the first quarter of 2025, follows Titan's strong successes in Texas' industrial, and multifamily and self-storage projects across the Southwest.
The complex is part of Chisholm Trail Ranch, a 625-acre master-planned community located just west of the Chisholm Trail Parkway – an important area toll road that opened in 2014 – with direct connections to I-20 and I-30 and only a 15-minute drive from downtown Fort Worth. The Trailhead is located on 13.5 acres on the northeast corner of McPherson and Brewer Boulevard, where residents will have easy access to major and growing employers in Dallas-Fort Worth in oil and gas, manufacturing, hospitality and aerospace industries. The area hosts large employers including American Airlines, Bank of America, Exxon Mobil and Texas Health Resources, as well as 38 colleges and universities. The master plan for Chisholm Trail Ranch includes a variety of high-end retail and restaurant options, a park, community center, and an extensive hiking/biking trail system linking local parks and schools.
Artwork, landscaping and other design features at The Trailhead will pay tribute to the legendary Chisholm Trail, which was established in the late 1800s by Lenape guide and rancher Black Beaver and Cherokee merchant Jesse Chisholm to drive cattle from Texas to railyards in Kansas. There is a large park on the property which offers residents wide spaces to relax in this low-density complex, with 284 units spread throughout seven apartment buildings. Residents will be offered studio, one-bedroom, two-bedroom and three-bedroom configurations that will include upscale fixtures, finishes and appliances. Other amenities on the property are garages and covered parking, bicycle storage, a pool, a dog park and unique outdoor activities such as a pickleball court.
Kurt Browning, Partner at Titan Development, said, "The Trailhead in the historic Chisholm Trail Ranch area is our first multifamily project in Fort Worth and we especially enjoy creating a distinctly Western theme. Partnering with Peter and Christopher at APC has been a great experience. They have been involved in the development of Chisholm Trail Ranch masterplan for more than 10 years and are highly knowledgeable about the vision and execution of the project."
"The Chisholm Trail Parkway is exploding with growth and The Trailhead is positioned to deliver much needed multifamily to this vibrant neighborhood," said Josh Rogers, Senior Vice President at Titan Development. "We believe this property, with its nearby shopping options and outdoor activities, will make this final phase of Chisholm Trail Ranch a highly attractive neighborhood with many live-work-play benefits."
Peter Aberg, President at Aberg Property Company, said, "This is our first joint venture with Titan, and we are excited to be working with another firm with deep experience building upscale, Class A multifamily properties with architectural, artistic and decorative themes, in this case classic Texas Western."
"The Chisholm Trail Ranch development is ideally situated in the suburbs of a city that has recently seen one of the highest population growth rates in the nation, and the data we gathered as we were planning our industrial properties in the area indicated that multifamily housing is essential to sustaining the economic growth of the area," added Christopher Ray, Executive Vice President, Development at Aberg Property Company. "We look forward to bringing best-in-class living arrangements to this growing new master-planned community along with our partners at Titan."
"As the fastest growing large city in the country, we're excited to see the Trailhead at Chisholm Trail Ranch taking shape to support our booming population and thriving economy," said Robert Sturns, Director of Economic Development at the City of Fort Worth. "With its proximity to the new Tarleton State campus and other nearby amenities, this multifamily development is a welcome addition to the new growth happening in southwest Fort Worth."
The Trailhead at Chisholm Trail Ranch project was funded by Titan Development Real Estate Funds II and III ("TDREF II" and "TDREF III"), which target investments in multifamily and industrial projects. This is Titan's first investment from its latest fund, TDREF III, which recently closed. Olympus Property, a full-service multifamily investment group, is an equity investor in the project. HEDK Architects serves as architect, Links Construction LLC is general contractor, and Lincoln Apartment Management will be the operator.
"Links Construction is excited to partner with Titan and APC on The Trailhead," said Lee Robinson, Director of Business Development at Links Construction. "We were fortunate to partner early and work alongside the development and design teams for a year-long workup, which allowed us to manage through material price escalation and much of the volatility the industry saw in 2021. Our operations and field teams are really set up for success and we look forward to helping shape the future of south Fort Worth."
About Titan Development
Titan Development is a leading Southwest full-service development and real estate investment firm with proven returns, via diversified asset classes across varied geographic markets. Titan has completed more than $2.5 billion in project cost since the firm was formed in 1999. Titan Development has a wealth of real estate development experience in many asset classes including private equity fund investment and management, and has offices in Austin, TX, and Albuquerque, NM.
Titan Development recently announced the close of its third fund, Titan Development Real Estate Fund III (TDREF III) at $122 million on May 12, 2022, continuing its successful strategy of focusing on multifamily and industrial investing in secondary and tertiary markets. Titan's previous fund, TDREF II, which raised $95 million, commenced in November of 2020, has identified all fund projects and is investing in 13 projects in TX, NM, CO and CA. Titan's inaugural fund, TDREF I, raised $112 million and invested in a variety of real estate asset classes.
To learn more, please visit www.titan-development.com.
About Aberg Property Company
Aberg Property Company (APC), a Dallas, Texas based real estate investment firm, formed in 2016 to develop select Class-A multi-family projects in major markets throughout Texas and New Mexico. Together, APC's main Principals, Peter Aberg and Christopher Ray, have developed over 1,000 units in these markets over the past four years. These projects share similar characteristics including premier locations, Class-A design, and unique amenity packages geared toward resident experience in these changing times.
At Aberg Property Company, we identify unique opportunities due to our leadership's extensive amount of real estate experience in land acquisition, including the zoning and marketing of well over 200 acres of multi-family land parcels over the past 25 years. Our Team's background and ability to navigate difficult zoning challenges, and local municipalities in markets with high barriers to entry, has provided consistently strong returns to our partners. Leveraging this skill set has been a critical component of APC's success as we have formed an expansive network of long-standing relationships and refined our disciplined approach to investment.
The Company remains diligent and acutely focused as we take on no more than two new developments at one time. Looking forward, Aberg Property Company is pleased to start its latest new community, The Trailhead at Chisholm Trail in Fort Worth, Texas.
About Links Construction
Links Construction was founded in 2007 and is based in Denton, TX. Primarily serving the north Texas market, Links focuses on market rate multifamily new construction and has over 3,500 apartment units completed or under construction.
Media Contacts:
Lisa Baker
Lambert
[email protected]
603.868.1967
Amy Calderon
Titan Development
[email protected]
505.917.5303
SOURCE Titan Development
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