Multifamily Development Planned for Addison Road and Airport Parkway

The City Council approved a rezoning request at its April 12 meeting that will allow for the development of a five-story multifamily community at the corner of Addison Road and Airport Parkway. The applicant, JPI, is a DFW-based company that develops multifamily housing throughout North America, with their primary focus on the DFW, Phoenix, and Southern California markets.

The design for the complex includes 287 multifamily units and 5,650 square feet of “retail ready” space at the ground floor. This retail ready space will initially be programmed for other uses (fitness amenity and dwelling units), and will be able to convert to retail, office, restaurant, or service use if a market for those uses ever emerges. Seven units will be constructed as live/work units, with two-level floor plans split between the 4th and 5th floors. Plans also call for 24 efficiency units, 191 1-bedroom units, and 65 2-bedroom units. A co-working space is provided on the 5th floor, adjacent to the live/work units. The average monthly rent is anticipated to be $1,900 for an 850 square foot apartment.

A 4,260 square foot public plaza is provided at the Airport Parkway frontage to provide for an outdoor seating area and passive open space amenity. The site plan also includes the implementation of a 10-foot trail at Addison Road and a 6 to10-foot trail at Airport Parkway in accordance with the Town's Master Transportation Plan. The developer plans to break ground next year and complete the project in 2025.