A Plano-based apartment builder has purchased land in Forney for a new rental community. Aspire Ventures acquired 14 acres near U.S. Highway 80 in the 2,000-acre Gateway development.
Aspire Ventures plans to build a 336-unit rental community on the property.
Vanguard Real Estate Advisors represented the buyer in the purchase.
Aspire Ventures has a track record of building and acquiring apartment properties, seniors housing and retail.
The company has properties in Texas, Oklahoma, Colorado, Arizona and Nevada.
Aspire Ventures built and sold the Southgate Apartments in Princeton in Collin County.
The new Forney project will be called the Lux at Gateway.
The $40 million rental community is set to open in 2024, according to planning documents filed with the state.
JHP Architecture designed the project.
Located east of Dallas in Kaufman County, Forney is one of North Texas’ fastest-growing communities. Developers are building millions of square feet of industrial space in Forney, which is creating thousands of new jobs.
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