i3 Breaks Ground on Multifamily Project

DALLAS – (Realty News Report) – Arch-Con Corp. is breaking ground on a 251-unit multifamily project in the Dallas area for Houston-based developer i3.

The apartment community, called Highfield Preston, is a being constructed at 4465 S. Preston Rd. in Celina. It represents i3’s first project in the D-FW Metroplex.

The three-building, four-story multifamily development, designed by Niles Bolton Associates, offers one, two and three-bedroom apartments.

“We are bullish on this area of Collin County,” i3 Chief Investment Officer Matt Maglothin said. “The property is within Prosper ISD which is known for excellent schools, is less than twenty minutes to Legacy Business Park in Plano, and the Dallas North Tollway expansion should be completed as we deliver first units.”

i3 is a commercial real estate development firm based in Houston with offices in Miami and Orlando, Florida, with Phoenix and Austin planned for opening later in 2022. i3 has a portfolio of projects in the healthcare, multifamily, cold storage and retail sectors in select markets across Texas, Florida, Alabama, Louisiana and Arizona. Though based in Houston, the firm focuses on primary markets across the Southern United States.

Houston-based commercial general contractor Arch-Con has built nine projects for the i3 firm.

“Arch-Con values our long-term relationship with i3 and is eager to deliver a great product for this growing area of Texas,” said Charlie Benson, Arch-Con’s vice president of multifamily serving North Texas.

Since opening a Dallas office in 2016, Arch-Con has completed more than 30 projects and 7 million SF of industrial, office, healthcare, retail and hospitality projects in the area.

The Highfield Preston multifamily project is slated to complete in August 2023. i3 finalized the acquisition of the 7.9-acre property in December 2021, in a transaction was brokered by Simon Beakley and Collins Meier with Davison & Bogel Real Estate.

Arch-Con is a commercial general contractor founded in 2000 with experts in office, industrial, retail, hospitality, corporate interiors, healthcare, multifamily and community construction. Arch-Con is a licensed general contractor in Arizona, California, Colorado, Florida, Louisiana, Oklahoma and Texas with offices in Houston, Dallas, Austin and Denver.

Rendering: Courtesy i3