The development will include an affordable component sponsored by a local housing authority.
A joint venture between Stryker Properties and Griffon Capital Management has obtained a $57 million construction loan for development of Freemont Frisco Apartments, a 313-unit residential project located in Frisco, Texas, a suburb of the Dallas-Fort Worth Metroplex. The community is slated for completion in mid-2028.
BridgeInvest provided the construction loan, with preferred equity coming from 25 Capital Partners. BBL Building Co. is the development’s general contractor.
An as-yet unspecified number of Freemont Frisco Apartments will be affordable. The community will participate in an affordable housing program in partnership with the Frisco Housing Authority, under Chapter 392 of the Texas Local Government Code. The partnership will facilitate affordable rents for some of the units…