News Summary
Frisco, Texas, is witnessing ongoing development with the groundbreaking of the Penrose luxury apartment community. In partnership with Rosewood Property Company and MetLife Investment Management, this upscale project will feature 382 luxury apartments on 5 acres, set to enhance housing options and foster a vibrant community. With modern amenities and designs inspired by local history, Penrose aims to attract residents looking for a blend of comfort and convenience in a growing area. The project’s completion is anticipated by fall 2027.
Frisco’s Penrose Luxury Apartment Project Breaks Ground as City Experiences Continued Growth
Frisco, Texas is seeing ongoing development with the recent groundbreaking of the Penrose luxury apartment community. In a collaboration between Rosewood Property Company and MetLife Investment Management, this new project is set to expand Frisco’s housing options with upscale living choices for residents. Located at 4301 Tributary Way, close to SH 121 and Spring Creek Parkway, this new community aims to offer a blend of luxury and convenience.
The Penrose development will feature 382 upscale apartment homes spread across just over 5 acres. Construction is set to take approximately two years, with leasing expected to commence in early 2027 and full completion anticipated by fall 2027. This timeline indicates a rapid addition of high-quality housing options to meet Frisco’s growing demands.
Designed with high-quality finishes and a variety of amenities, Penrose seeks to elevate the standard of living in the region. The architectural design includes a combination of brick and stone exteriors, complemented by upscale interiors meant to compete with the top-tier communities found in Frisco and Plano. These aspects are part of a broader vision for the community that emphasizes both aesthetic appeal and functionality.
Penrose is integrated into the Southstone Yards Masterplan, a larger project covering 45 acres that combines residential, commercial, and green spaces. This masterplan not only focuses on housing but also aims to create a vibrant, community-oriented environment. The development draws inspiration from Frisco’s railroad and agricultural history, creatively merging these historical elements with modern design principles.
Located strategically near major employment centers like The Star and Toyota’s North American headquarters, Penrose intends to attract individuals and families seeking a balanced lifestyle. The site promises an array of nearby amenities and recreational opportunities that cater to today’s modern residents.
To enhance the living experience, Penrose will include various amenities such as a fitness center, a resort-style pool featuring an outdoor lounge, a clubhouse with coworking space, a wellness facility equipped with cold plunge pools and a sauna, a golf simulator, and even a pet spa. These features are expected to foster a strong sense of community among residents, differentiating Penrose from other mixed-use developments in Frisco.
The development team behind Penrose includes reputable companies specializing in their respective fields, ensuring a robust and well-designed residential community. Architects from Hensley Lamkin Rachel, alongside landscape designers LandDesign and interior designers B2 Design Co., have collaborated with civil engineering experts from KFM and general contractors OHT Partners to bring this vision to life.
Financing for Penrose is being provided by Veritex Community Bank and Associated Bank, reflecting a solid financial backing for the project and its future residents. Rosewood Property Company is well-known for previous developments in North Texas, such as The Ludlow and The Buckley in Plano, as well as The Gilman in Las Colinas. The company is also expanding its footprint into the Carolinas with a focus on multifamily growth, showcasing its commitment to enhancing urban living across wider regions.
As housing demands continue to rise, Penrose exemplifies Frisco’s evolution into a dynamic residential and commercial hub within the DFW Metroplex. The project represents not just a collection of apartments but also a commitment to building a community where residents can thrive amid convenience, luxury, and a unique living experience.
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Additional Resources
- Candy’s Dirt
- Wikipedia: Frisco, Texas
- Community Impact
- Google Search: Frisco Texas apartments development
- Local Profile
- Encyclopedia Britannica: Texas
- Multifamily Biz
- Google News: Frisco Texas multifamily housing
