DALLAS – [August 15, 2022] – Kalterra Capital Partners is pleased to announce its second high-end, mutifamily development in Waxahachie with Rowan Properties. The Fitzgerald, a 184-unit currently under construction, is directly adjacent to Park Place Apartments, which Kalterra developed and sold to Rowan Properties in May 2021.
Building on the success of their previous partnership, Rowan Properties purchased The Fitzgerald from Kalterra during the pre-construction phase, making it a win-win for both parties.
“We are confident in the success and reputation of Kalterra Capital Partners and are excited to be working with them again,” said Mike Burch, Principal of Rowan Properties. “Waxahachie is a growing, vibrant market with strong demographics and a long-term future, and we expect The Fitzgerald to experience the same level of success as Park Place.”
The 7-acre site falls within the rapidly growing Ellis County submarket, located 30 miles south of the DFW Metroplex. Just east of Hwy 287 and directly adjacent to Waxahachie’s Sport Complex, the project will serve the growing demand for Class-A luxury apartments in the county.
“The Fitzgerald is another example of Kalterra’s commitment to bring design-forward, multifamily housing communities to areas within 30 minutes of metroplexes,” said Clint Nolen, managing partner and co-founder of Kalterra Capital Partners. “We’re thrilled to build on the experience from our previous multifamily development in Waxahachie and partner with Rowan Properties again to bring another premier development to this area.”
Like its predecessor, the new property will offer future residents nearby shopping and restaurants, recreation and employment opportunities. The Fitzgerald will consist of one- and two-bedroom units with quartz countertops and stainless-steel appliances. The property will include a luxury pool, grilling stations, a volleyball court, top of the line fitness center, dog spa and movie theatre/game room.
Kalterra Construction and the Brownstone Construction Group are collaborating on the development of The Fitzgerald, making this the fifth project the duo has worked on together. The goal for completion is Q2 2023.
“It is always a pleasure to partner with Kalterra Construction,” said Wil Brown, president of Brownstone Construction Ltd. “Their highly knowledgeable team and competitive leadership in this industry is unmatched. We look forward to having our fifth collaboration in the books.”
Kalterra Capital Partners
Kalterra Capital Partners is a Dallas-based private real estate company specializing in the ground-up development of upscale multifamily and mixed-use properties in Texas. The company is an emerging industry leader with a diverse team of disciplined, investor-focused partners aiming to deliver 30 communities by 2030.
Story by The Waxahachie Sun