via The NRP Group

The NRP Group and H.I.G. Realty Partners broke ground on Diamond Flats, a 331-unit rental community located in the Dallas suburb of Carrollton. Santander Bank provided a $53.7 million loan.

Units at the four-story development will range from one- to three-bedrooms, with an average size of 950 square feet. First deliveries are expected in 2025. Additional amenities at Diamond Flats will include a fitness center, swimming pool, game room and coworking area.

The project will cost $69 million — that breaks down to roughly $208,000 per unit.