August 24, 2020
Presidium recently broke ground on Presidium Hill Street, a four-story, 290-unit multifamily community in Grand Prairie. A mid-2022 completion is anticipated.
“This is our first construction start post-COVID, so this is a very special groundbreaking for us,” said Johnny Griggs, co-CEO at Presidium. “We were able to create a site plan that ensures Presidium Hill Street will add significant value to the Grand Prairie community, while also providing a best-in-class housing option for its residents.”
Veritex Bank provided financing for the project, which published reports say will cost $36 million to build. “The site that Presidium acquired has a lot of potential and we are bullish on the Grand Prairie submarket given the current supply fundamentals,” said Leo Smith, VP of commercial real estate lending at Veritex.
The Presidium Hill Street project brings the Dallas-based developer to more than 2,600 apartments either delivered or under construction.
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