At a glance
- The site at 250 E. Arapaho Rd. will require demolition of a vacant two-story office building before construction of the 444 units.
- The project will not collect rent until leasing begins in spring 2028, with final completion by spring 2029.
- Legacy Arapaho is Legacy's third apartment development in Richardson, after Ovation at Galatyn Park, which opened in 2024, and Galatyn Station, which opened in 2008.
Legacy Partners and CrossHarbor Capital Partners broke ground on Legacy Arapaho, a 444-unit apartment project in Richardson, Texas, after closing on a 10.4-acre site, Connect CRE reported.
The site at 250 E. Arapaho Rd. will require demolition of a vacant two-story office building before construction of the 444 units. First United Bank of Durant, Oklahoma, is providing the construction loan. Terms of the land purchase and the loan were not disclosed. Rampart Multifamily, based in Grapevine, is the general contractor.
The project will not collect rent until leasing begins in spring 2028, with final completion by spring 2029. The deal combines CrossHarbor's equity, First United Bank's construction loan and Rampart Multifamily as general contractor. The 10.4-acre site works out to about 43 units an acre.
Legacy Arapaho is Legacy's third apartment development in Richardson, after Ovation at Galatyn Park, which opened in 2024, and Galatyn Station, which opened in 2008. Since 2023, the firm has delivered four apartment communities and two single-family build-to-rent communities.
Reported by the Deals desk from Connect CRE. Published . Corrections